Thailand’s construction industry is now facing labour shortage resulting in stagnancy of new projects, according to the Construction Institute of Thailand.The institute director Chakporn Oonjitt said the construction industry cannot expand or begin new projects due to a severe labour shortage, particularly in housing development projects.
He said this resulted in the delay of housing transfers to home buyers, and predicted that the existing labour force is still insufficient for 2012-2013 state and private construction projects.Mr Chakporn said the construction sector grew by 15 percent this year, with at least Bt900 billion investment cost, but project expansion could not reach the target it should have.
The National Statistical Office reported a shortage of at least 300,000 labourers, according to the the institute director, adding that the country’s construction industry needs up to 2.9 million workers this year due to increasing projects, above averages of other years of 2.3-2.6 million.
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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
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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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