According to Moody’s Investors Service, the country’s GDP is estimated at 2.8 percent in 2011. In a separate report, which highlights the risks facing Japanese car and electronics manufacturers in Thailand, the credit rating agency also speculated that Honda Motor Co. would see a profit drop by 10 percent as the disaster forced its operation stoppage.
Its share prices may fall accordingly. Also sharing the same situation could be Isuzu Motors Ltd., which has just launched a new model commercial vehicle. Most of its production is in Thailand.
Nissan Motor, Toyota Motor could be a little affected if they are able to find automotive parts elsewhere. Canon Inc. should get market share from Nikon Corp and Sony Corp., both of which produce high-end DSLR cameras in Thailand.
Thailand’s seven industrial estates that were flooded will be rehabilitated within 45 days after floodwaters recede with government financial aid, Deputy Prime Minister/Commerce Minister Kittirat Na Ranong said Monday.
After meeting with engaged agencies and industrial entrepreneurs of the flooded industrial tracts—which comprise a significant portion of Thailand’s industrial capacity—the Factory Land, Saha Rattana Nakhon, Bang Pa-in, Rojana and Hi-Tech in the nearby central province of Ayutthaya, as well as the Bangkadi and Nava Nakorn estates in Pathum Thani.
Once the water level starts to recede or is stable, floodwaters will be pumped out immediately.
He said that the government’s plan for financial support is so that production can resume as soon as possible. A budget of several hundred billion baht is expected to initiate rehabilitation, including loans for entrepreneurs to buy new machinery and a budget of over Bt25 billion for reconstruction of basic infrastructure.
Vaccine shortage could derail Thailand’s economic recovery
As much of the Asia-Pacific region is gearing up for a 2022 reopening and recovery, Thailand is now lagging behind many countries in vaccine procurement and sluggish vaccine campaign threatens the country’s economic recovery.
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
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