Deputy PM confirms Thai economic recovery

SURAT THANI, Nov 20 – Deputy Prime Minister Somkid Jatusripitak told the national meeting of the Thai Chamber of Commerce that the Thai economy was recovering due to investment in all sectors and the economic growth would be faster next year. In the 35th annual meeting of the nationwide chambers of commerce in Surat Thani, Mr Somkid said the Thai private sector played important roles in driving the economic growth and the national economy expanded by 4% in the third quarter of this year. He said the government’s investment projects were boosting confidence and Thailand was ready to welcome investment from other countries that were increasingly investing in Southeast Asia. Mr Somkid predicted the Thai economy would grow by more than 4% next year due to investment by state enterprises that possessed the majority of investment budgets in the country. Besides, he said, the Eastern Economic Corridor was attracting foreign investment. He expected investment projects in the EEC would begin with their bidding contests within the first quarter of next year. He asked members of the Thai Chamber of Commerce to help develop local businesses and generate the income of community residents to support the government in strengthening the grass roots’ economy. He also recommended the private sector use big data to maintain their competitiveness. (TNA)