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Bank of Thailand worried by potential shift of investment

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The Bank of Thailand BoT expressed concerns over the investment climate in Thailand after the recent protests of the anti-government United Front of Democracy Against Dictatorship UDD and the following riots took place. BoTs Senior Director, Suchart Sakkarnkosol disclosed on Monday that the BoT had dispatched BoT officers to collect data from domestic and international entrepreneurs whose businesses were affected by the rally and the riots.

He stated the obvious impact might not show in the short run but tended to influence Thai businesses in the long run. Foreign investors might shift their investment interests to Thailands neighboring countries such as Indonesia and Vietnam, while domestic investors might postpone their investment decision due to the lack of confidence.

via BoT disturbed by potential shift of investment

Despite lingering political crises, foreign investors still show confidence in Thailand’s potential growth.

BoI indicated that the ongoing political crisis had not yet be affected the investment, but if political tensions were resolved, it would contribute positively to the investment atmosphere.

Businesses for which investors seek promotional privileges with the highest investment value include service and public utility with 115 projects and investment value of Bt77 billion; vehicles, machinery and metals with 85 projects and value of Bt20 billion; processed agricultural products and  foods with 68 projects and a value of Bt17 billion; and electronic products with 63 projects and a value of Bt9 billion.

She said foreign direct investment (FDI) projects seeking investment promotions in the first four months of this year had the investment value of Bt53 billion, up 140 per cent from Bt22 billion in the corresponding period last year.

Mrs Atchaka attributed the increased FDI to the global economic recovery and more foreign investor confidence in Thailand.

Japanese investors remain the most active applicants with an investment value of Bt26 billion.

Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

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Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

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Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

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BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

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