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Thai Government plans 5% Growth in 2012

Thai Prime Minister Yingluck Shinawatra said in a seminar entitled “Decoding GDP 2012” that she is confident that the country’s strong fundamentals would enable the government to push Thai economic expansion to five per cent this year through three major strategies.

Aishwarya Gupta

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Thai Prime Minister Yingluck Shinawatra said  in a seminar entitled “Decoding GDP 2012” that she is confident that the country’s strong fundamentals would enable the government to push Thai economic expansion to five per cent this year through three major strategies.

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The first is to promote exports to the Middle East, India, ASEAN members, and other countries having free trade agreements with Thailand such as China, Japan, Australia and New Zealand, Ms Yingluck said in a seminar entitled “Decoding GDP 2012” held by the Economic Reporters Association. The government will also accelerate development of basic infrastructure to facilitate connections to Thailand’s neighbouring countries, aiming to be a hub of trade and investment.

High Speed train development and flood prevention on the roadmap

Transport development to link the Dawei deep-sea port in Myanmar, the Laem Chabang deep sea port in Thailand and the Chennai Port in India will help support shipping of goods from the Andaman Sea to the Gulf of Thailand. In the long term, the government will expedite construction of high speed trains and transportation routes worth Bt2.24 trillion in total.

Meanwhile, a budget of Bt350 billion will be spent on preventing flooding and generating employment and incomes to stimulate the economy.

As a third emphasis, the government will stimulate household spending by increasing their purchasing power which will also help boost sales for small- and medium-sized enterprises, Ms Yingluck said.  The government will boost household spending through its policies such as its village fund project and a fund to promote women’s role as women can also play a larger role as breadwinners to support their families. The prime minister said she hoped that the Thai economy will recover “in the form of a V shape” and that the recovery should be seen in the second quarter of this year.  (MCOT online news)

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Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

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Pr News and BOI

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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National News Bureau of Thailand

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Export growth better-than-expected in December 2020. However, amid the second wave of COVID-19 infections, exports could fall below previously forecasted levels in 2021.

BANGKOK (NNT) – The Finance Ministry has reduced its 2021 economic growth forecast for a second time to 2.3% from 2.8% growth, after a third wave of coronavirus infections struck Thailand this month.

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Economics

Developing Asia growth set to rebound to 7.3% in 2021 (ADB)

Thailand slow vaccination progress coupled with a surge of infections has prompted Kasikorn Research Centre to lower its growth projection for the Thai economy this year from 2.6 percent to 1.8 percent. However, ADB’s forecast for Thailand growth in 2021 remains set at 3% (and 4.5% in 2022).

Olivier Languepin and Asian Development Bank

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MANILA, PHILIPPINES (28 April 2021) — Economic growth in developing Asia is set to rebound to 7.3% this year, supported by a healthy global recovery and early progress on coronavirus disease (COVID-19) vaccines, according to a new report from the Asian Development Bank (ADB).

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