BANGKOK (NNT) – Because private sector concerns about the many risks to the economy still exist, despite the stimulus measures, the Chambers of Commerce of five regions have submitted a white paper to the government outlining recommendations for further moves.
President of the Thai Chamber of Commerce and Board of Trade of Thailand, Kalin Sarain, explained that chambers from across the country held a seminar on preparing businesses for recovery in 2021. All attending acknowledged that, even with a vaccine for COVID-19, enterprises will still have to adapt to the New Normal. Conclusions from the conference are to be compiled into a white paper for presentation to the government and relevant agencies, so that action can be taken. The focus of the chambers includes export, stimulation of local economies with an emphasis on tourism as well as water management, to avoid drought and flooding.
Dean of the University of the Thai Chamber of Commerce and President of the Center for Economic and Business Forecasting, Thanawat Polwichai, said the Thai economy has already started to show signs of recovery, with improved consumer and investor confidence. Clear recuperation is expected to be seen during the fourth quarter this year, particularly in the automotive, agricultural and consumer goods sectors, on the back of state stimulus measures. Overall contraction has been estimated at 6 percent for the year, with some uncertainty still lingering due to political tensions.
