Vietnam Daily News

Thai private sector believes in continued recovery

Written by Dailynews.vn Friday, 03 February 2012 12:46

The Thai economy will begin to recover steadily if the government can accomplish its water management plan, said Chairman of the Thailand Business Council for Sustainable Development Prasert Bunsumpun.

The economy will be able to expand by 5 percent as speculated if flooding is no longer a threat, the National News Bureau of Thailand quoted Prasert as saying at a seminar relating to the country’s GDP in 2012 .

It is now time for Thailand to identify its direction in the area of investment promotion in the medium and long terms, he said.

Prasert explained that while other ASEAN members have already developed clear investment policies, Thailand ’s investment figure has declined by as much as 7 percent a year.

Meanwhile, President of the Federation of the Thai Industries Payungsak Chartsutipol said at the seminar that the Thai economy is on the road to recovery, citing a higher-than-expected number of cars manufactured this time around.

He also quoted entrepreneurs from the production sector as saying that more orders have been placed continuously. In addition, more foreign investors have begun to buy land and invest in Thailand ’s industrial estates, signifying that their confidence has returned./.

Source: en.vietnamplus.vn/Home/Thai-private-sector-believes-in-continued-recovery/20122/23899.vnplus