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Moody’s forecasts 2.8% GDP Growth for Thailand

According to Moody’s Investors Service, the country’s GDP is estimated at 2.8 percent in 2011. In a separate report, which highlights the risks facing Japanese car and electronics manufacturers in Thailand, the credit rating agency also speculated that Honda Motor Co. would see a profit drop by 10 percent as the disaster forced its operation stoppage.

Aishwarya Gupta

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Moody’s Investors Service has predicted that the flood crisis would cause a sharp fall in Thailand’s gross domestic product this year.

According to Moody’s Investors Service, the country’s GDP is estimated at 2.8 percent in 2011. In a separate report, which highlights the risks facing Japanese car and electronics manufacturers in Thailand, the credit rating agency also speculated that Honda Motor Co. would see a profit drop by 10 percent as the disaster forced its operation stoppage.

Its share prices may fall accordingly. Also sharing the same situation could be Isuzu Motors Ltd., which has just launched a new model commercial vehicle. Most of its production is in Thailand.

Moody’s Investors Service has predicted that the flood crisis would cause a sharp fall in Thailand’s gross domestic product this year.

Moody’s Investors Service has predicted that the flood crisis would cause a sharp fall in Thailand’s gross domestic product this year.

Nissan Motor, Toyota Motor could be a little affected if they are able to find automotive parts elsewhere. Canon Inc. should get market share from Nikon Corp and Sony Corp., both of which produce high-end DSLR cameras in Thailand.

Thailand’s seven industrial estates that were flooded will be rehabilitated within 45 days after floodwaters recede with government financial aid, Deputy Prime Minister/Commerce Minister Kittirat Na Ranong said Monday.

After meeting with engaged agencies and industrial entrepreneurs of the flooded industrial tracts—which comprise a significant portion of Thailand’s industrial capacity—the Factory Land, Saha Rattana Nakhon, Bang Pa-in, Rojana and Hi-Tech in the nearby central province of Ayutthaya, as well as the Bangkadi and Nava Nakorn estates in Pathum Thani.

Once the water level starts to recede or is stable, floodwaters will be pumped out immediately.

He said that the government’s plan for financial support is so that production can resume as soon as possible. A budget of several hundred billion baht is expected to initiate rehabilitation, including loans for entrepreneurs to buy new machinery and a budget of over Bt25 billion for reconstruction of basic infrastructure.

 

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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.

National News Bureau of Thailand

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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.

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96% of Foreign Investors still confident in Thailand says BOI

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National News Bureau of Thailand

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BANGKOK (NNT) – With the COVID-10 pandemic causing significant disruption around the world including in Thailand, the Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

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Thailand Tops Bloomberg’s Emerging Markets List

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Boris Sullivan

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Thailand and Russia are well placed to be among the emerging-market standouts that could beat expectations next year, according to a Bloomberg study of 17 developing markets gauging their outlook for 2021.

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