Leading business person projects 4% GDP Growth

BANGKOK, March 5 (TNA) -- The CEO of Thailand's leading shopping mall chain expects the economy will grow by 4 per cent this year driven primarily by rising consumer spending and sustained investments in the Eastern Economic Corridor (EEC). Tos Chirathivat, the chairman of the executive committee and CEO of Central Group said that the economic outlook for 2018 was promising as the all the fundamentals were beginning to fall into place not least of which is the government's final approval of general elections. As such Mr Tos projects that the GDP will be able to grow by at least 4 per cent as indicated by the strong rise in consumer spending. A worrying trend, however, is the prevalent preference among Thais for foreign goods which grows at a sustained 10 per cent every year. Local goods has not enjoyed the same rate of rise. Positive developments in the Eastern Economic Corridor (EEC) has been a fundamental contributor in increased investments in the industrial and tourism sector in the eastern region. Correspondingly, this will also promote increased investments in the retail and real estate sectors. With this much investment going on, the EEC looks likely to become the 2nd Bangkok. (TNA)