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.
Thailand relaxes COVID-19 measures to help revive economy
During the past couple weeks, new infection cases have been down from roughly 20,000 daily cases to 17,000 -19,000. Moreover, the number of daily discharges is exceeding infections, which has led to the conclusion that the situation is improving.
Thailand relaxed more virus related social curbs on September 1st, in dozens of cities including Bangkok, in a move that may indicate that the country’s economy, hit hard by COVID-19 will soon revive, lead by the export sector and sound financial fundamentals.(more…)
Southeast Asia to relinquish its lead over Latin America says Moody’s
While the emerging economies of Southeast Asia have outperformed their counterparts in Latin America for most of the past two decades, their lead will slide in the next few quarters as Southeast Asian governments clamp down to fight the pandemic’s lingering second and third waves.
The Delta surge is casting larger clouds over the global recovery and emerging markets are in the thick of it. Despite the ebbing of the coronavirus variant in India, where it first emerged, its spread in Southeast Asia, Africa, and the Middle East has steepened the road to recovery in these regions.(more…)
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