Market watchers have said they are largely optimistic about Thailand’s economy, despite the recent political unrest in the country.
They believe its growth fundamentals are still in place, supported by the strong growth in its exports recently.
Observers also said the unrest may also present a good opportunity for foreign investors, as the government has been making business conditions more attractive.
It's been more than a week of protests in Bangkok by the “Red Shirts” group.
But Thailand is still getting the green light from analysts for foreign investments.
That is because they believe the country’s growth fundamentals are still in place. And the unrest may, ironically, offer opportunities to buy into Thailand’s growth.
Leon Perera, group managing director, Spire Research and Consulting, said: “This is a good time in terms of foreign direct investment, buying shares directly in those who are setting up companies, because I think during this period of time, the Thai Board of Investment would probably be more prepared to offer generous incentives in order to welcome investors, so as to demonstrate that it is still able to bring in foreign investors, in spite of the political issues.
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
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