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Thailand’s construction market is now driven by public infrastructure

Thailand’s construction market is driven by public investments in infrastructure as Government spending continues to focus its efforts in developing a robust transportation system.

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Thailand is currently one of the most exciting hubs for contractors in Southeast Asia today, with a construction market value estimated at USD41.4 billion last year, according to a white paper released last week by corporate strategy consulting firm Solidiance.

New buildings and infrastructures amassed throughout the kingdom at a faster clip over the last few years, a trend that would indicate an especially busy year ahead for Thai real estate.

Overall, the number of buildings in the country increased 1.4 percent on average every year between 2012 and 2014.

Overview of Thailand’s construction sector

Thailand’s construction market is estimated to reach up to USD 41.4billion by 2016, with about USD 17.9billion coming from private investments and about USD 23.4 billion from the public sector, which includes the infrastructure segment.

Public infrastructure

Of the USD41.4 billion siphoned into Thai construction last year, USD23.4 billion can be traced to the public sector.

This mainly covers lavish public expenditure on infrastructure, aligning with the Thai government’s renewed thrust toward improving the country’s transportation system.

Since 2015, transport officials have executed plans to increase infrastructure investments in Bangkok’s mass rapid transit line, although delays have been widely reported.

 

Growing condo market in metropolitan Bangkok

Such increase in public works have literally widened the path to residential construction in the Thai capital. With public transit lines currently under construction, Bangkok’s city center is gradually expanding, Solidiance researchers contended.

The government has also approved the development of the Eastern Economic Corridor, which concentrates on construction of transport infrastructure, sea, and rail. This move will further support Thailand’s position as a major economic zone in ASEAN.

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National

Thailand to further ease COVID-19 restrictions

The Cabinet approved to ease the level of control over the country under the COVID-19 situation including relaxing businesses and activities in 4 areas.

National News Bureau of Thailand

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The Cabinet approved to ease the level of control over the country under the COVID-19 situation including relaxing businesses and activities in 4 areas.

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Economics

BoI plans more efforts to promote BCG economy

National News Bureau of Thailand

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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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Asean

ASEAN, Canada, UN Women launch 5-year programme to advance Women, Peace and Security Agenda

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Joint Press Release ASEAN, Canada, UN Women jointly launch 5-year programme to advance Women, Peace and Security Agenda
Jakarta/Ottawa/New York, 24 February 2021 – The Association of Southeast Asian Nations (ASEAN), Canada and UN Women jointly launched today a five-year programme to expand and strengthen women’s leadership and participation in conflict prevention, resolution and recovery in South-East Asia.

The CAD 8.5 million (US $6.36 million) programme, “Empowering women for sustainable peace: preventing violence and promoting social cohesion in ASEAN”, is funded by Global Affairs Canada to support ASEAN and the implementation of the ASEAN-Canada Plan of Action 2021-2025, with the support of UN Women as a lead UN partner.

“Canada is proud to launch this flagship initiative that uses the women, peace and security approach to promote inclusive and sustainable peace and security in the region, while addressing the systemic gender inequality,” said Diedrah Kelly, Canada’s Ambassador to ASEAN.

ASEAN has made important strides to advance women, peace and security agenda, including the adoption of the first ‘Joint Statement on Promoting Women, Peace and Security in ASEAN’ in 2017, the launch of the ASEAN Women’s Peace Registry in 2018, and convening the first ASEAN Symposium on Women, Peace and Security in 2019 and the ASEAN Ministerial Dialogue on Strengthening Women’s role for Sustainable Peace and Security in 2020.

Secretary-General of ASEAN Dato Lim Jock Hoi said, “ASEAN is working concertedly to advance women, peace and security agenda across the three ASEAN Community Pillars as part of our commitment to promote gender equality and the roles of women in the implementation of the ASEAN Comprehensive Recovery Framework.”

The COVID-19 impact has increased the risks for women and girls in fragile and conflict-affected contexts and this challenges us to re-examine threats to human security. “The pandemic highlights the important linkage between peace, humanitarian and development and the critical need for women’s leadership and participation to ensure effective and comprehensive response, from policy decision-making to peace building and pandemic response,” said Jamshed Kazi, UN Women Representative and Liaison to ASEAN.

The new programme reflects the commitment of ASEAN and Canada to promote gender equality and to respond to an increasingly widespread calls across the globe for women to be empowered to lead and participate in peace and development.

ASEAN includes Brunei, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam.

For more information, please contact:
Montira Narkvichien
Regional Communications Specialist
UN Women Asia and the Pacific
Tel: +66 2 288 1579 | Mobile: +66 81 6688900 | Email: [email protected]

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