Connect with us

National

Asian Development Bank raises Thailand’s 2010 GDP growth to 7%

The Asian Development Bank (ADB) has increased Thailand’s gross domestic product (GDP) performance this year to 7 per cent, up from its April projection of 4 per cent, thanks to healthy private demand, ongoing investment and lingering effects of monetary policy measures.

Aishwarya Gupta

Published

on

The Asian Development Bank (ADB) has increased Thailand’s gross domestic product (GDP) performance this year to 7 per cent, up from its April projection of 4 per cent, thanks to healthy private demand, ongoing investment and lingering effects of monetary policy measures, it was disclosed Tuesday.

Doing business in Thailand

The major factor weighing down growth next year is the sharp slow down in the global economy, particularly the contraction of the economies that are Thailand’s major export markets – US, EU, and Japan. This will have a large negative impact on Thailand’s exports of both goods and services which has been the major source of income and the driver of the output growth in the past few years. The US dollar value of exports of goods is expected to expand by only 8 percent in 2009, compared to around 20 percent this year.

ADB raises Thailand’s 2010 GDP growth projection to 7%

This is precisely the path on which Thailand’s government is embarked, and one in which the country will slowly move from being an attractive investment destination for its low cost high skilled manufacturing to a country that derives increasing prosperity from its innovative and creative economy.

At the heart of productivity improvement is the quality of the country’s human resource.Examples from Korea, Taiwan, and Singapore above have shown that improving the skills and knowledge of their human resource has enabled them to move towards a knowledge economy, which has in turn raised and sustain their productivity and competitiveness. However, these were possible through the collaborative efforts of the government, private sector, and academic institutions.
Political stability would help to regain investors as well as assure them the clarity and continuity of policy directions.

These could help promote investments in Thailand by the private sector amidst the unfavorable external environment.Greater public investments in infrastructure will also boost investor confidence and investments. Public investments would not only inject funds directly into the economy, but better infrastructure services will stimulate further investments and productivity of firms. Firms in the 2007 survey indicated that inadequate infrastructure services have led to increased costs, such as logistics costs, which have discouraged them from investing.

View original here:
ADB raises Thailand’s 2010 GDP growth projection to 7%

Comments

National

Human trafficking cases in Thailand hit decade low due to COVID-19

Thailand has pointed to improved efforts to stop trafficking in recent years, under scrutiny from the United States and following criticism of its failure to tackle abuses in its lucrative seafood and textile sectors, as well as the sex trade.

Avatar

Published

on

BANGKOK, Jan 21 (Thomson Reuters Foundation) – Police in Thailand last year launched the lowest number of human trafficking investigations in a decade as coronavirus restrictions on businesses and borders hindered criminal networks, according to a soon-to-be released government report.

(more…)
Continue Reading

National

Thai cabinet allows illegal migrant workers to sign up for 2-year work permit

Migrant workers from Cambodia, Laos, and Myanmar, who are in Thailand illegally, will be able to obtain a 2-year work permit under a special arrangement offered to help contain the spread of COVID-19.

National News Bureau of Thailand

Published

on

Samut Sakhon One Stop Service

BANGKOK (NNT) – Cabinet has approved a special arrangement for illegal migrant workers from neighboring countries, allowing them to register for 2-year legal work status in Thailand, following the case of a new COVID-19 outbreak among the migrant workers’ community.

(more…)
Continue Reading

National

Thailand blocks online gambling websites

In the past week, the Ministry of Digital Economy and Society has asked all internet service providers and mobile carriers to block access to online gambling websites.

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – Online gambling websites, which are easy to access by children and youth, have become a topic of concern for the Prime Minister, who has ordered strict suppression of these illegal websites.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,609 other subscribers

Trending