Economics

Thai Exports to grow 4% in 2021

Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand 5.2 percent in 2021 from a contraction of 4.4% this year.

Published

2 months ago

January 2, 2021

National News Bureau of Thailand

BANGKOK (NNT) – The Department of International Trade Promotion (DITP) forecasts that exports in 2021 will gradually return to expansion mode, based on signs of economic recuperation globally and the distribution of a vaccine to protect people against COVID-19.

DITP Director-General Somdet Susomboon, explained today that the office expects exports in 2021 will achieve 4 percent overall growth by the end of the year in line with projections by other public agencies and the private sector.

Developing countries in Asia’s emerging market category, including China, India and five nations of ASEAN, are slated to recover fastest overall. The World Trade Organization’s prediction is 7.2 percent global economic expansion in 2021. All of these factors will benefit Thai exports.

Other contributors to Thai trade include the delivery of anti COVID-19 vaccines, which should improve economic confidence and prompt consumption, economic stimulus in many nations and a hike in orders from trade partners.

Exports related to COVID-19 such as food, hygiene products, home entertainment and work from home tools will continue their uptrend as a new wave of infections has recently hit several countries.

Economics

BoI plans more efforts to promote BCG economy

Published

11 hours ago

February 26, 2021

National News Bureau of Thailand

BANGKOK (NNT) – The Board of Investment (BoI) is working with related agencies to rev up promotion of the bio-, circular and green (BCG) economy to help drive growth over the next 5 years.

BoI Secretary-General Duangjai Asawachintachit said the BoI is looking into more business categories for high technology as part of efforts to promote the BCG economy.

She said the government is focused on developing the bio-economy as Thailand has more than 30 million people working in the farm sector, yet most of them remain in poverty.

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Ecommerce

Will Covid-19 unleash a new generation of digital nomads?

Published

21 hours ago

February 26, 2021

Oxford Business Group

Will Covid-19 unleash a new generation of digital nomads?

– Covid-19 has facilitated the widespread adoption of remote working
– Despite travel restrictions, countries are seeking to attract digital nomads
– Dubai and Mexico have emerged as key destinations for foreign remote workers
– As travel resumes, many anticipate a new wave of roaming digital nomads

With Covid-19 facilitating the widespread adoption of remote working practices, some emerging markets are seeking to attract digital nomads through a series of incentives and special visas.

Despite border closures and travel restrictions resulting from the virus, various countries are stepping up efforts to incentivise the movement of so-called digital nomads – people who work remotely and relocate relatively freely.

For example, in October the Dubai government launched its virtual working programme, an initiative that gives foreign professionals the opportunity to move to the emirate and continue to work remotely in their current jobs.

The one-year programme, launched after Dubai reopened its borders to international tourists in July last year, is designed is attract professionals, entrepreneurs and those working in start-ups.

Given its strong ICT infrastructure and healthy start-up scene, Dubai has been seen as an increasingly attractive option for digital nomads in recent years, with officials marketing the emirate as a place where people can live and work by the beach.

As a further incentive, in January officials began offering free vaccines to those on the programme.

Economics

BoI Plans More Efforts to Promote BCG Economy

Published

2 days ago

February 25, 2021

National News Bureau of Thailand

BANGKOK (NNT) – The Board of Investment (BoI) is working with related agencies to rev up promotion of the bio-, circular and green (BCG) economy to help drive growth over the next 5 years.

BoI Secretary-General Duangjai Asawachintachit said the BoI is looking into more business categories for high technology as part of efforts to promote the BCG economy.

She said the government is focused on developing the bio-economy as Thailand has more than 30 million people working in the farm sector, yet most of them remain in poverty.

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