Thailand’s worst flooding in memory has caused damage to almost 10,000 factories, forcing some 660,000 employees temporarily into unemployment, according to Deputy Industry Minister Suphap Kleekachai.
Mr Suphap said that a total of 9,859 factories have closed – both inside and outside the industrial estates affected by the worst flooding — while the disaster has affected at least short-term and perhaps longer-term unemployment for 660,000 workers who were employed by the factories. Seven industrial estates in Ayutthaya and Pathum Thani — Saha Rattana Nakhon, Bang Pa-in, Rojana, Hi-Tech, Factory Land, Nava Nakorn and Bangkadi — were earlier forced to close due to the deep floodwater.
9,859 factories have closed, 660,000 workers unemployed
Lat Krabang Industrial Estate in Lat Krabang district and Bangchan Industrial Estate in Min Buri district are on high guard to fight the deep floodwater expected to flow into the areas in the next few days.
He said 838 factories in the seven industrial parks and estates in Ayutthaya and Pathum Thani were hit by the flood and that 382,693 workers were unemployed which caused direct damage of nearly Bt500 billion, while indirect damage could add another Bt300 billion to the losses.
Mr Suphap said the ministry would set up a working group to inspect all factories to evaluate the damage incurred. Details and exact costs of the collective damages wil be submitted to the government for its consideration of extending assistance.
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.(more…)
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