Mr. Supattanapong Phanmechaow, Deputy Prime Minister and Minister of Energy addressed in the seminar titled “The future of Thai economy, who determines the destiny” is organized by TNN Channel 16 that the outbreak of Covid-19 began to subside after the government took various measures. And it is expected that by the end of 2021, everything will be at a certain level of goals. But still have to defend against the infested Delta species.
The government must find preventive measures to minimize the impact on the economy and is confident that from now on the situation will be better but everyone must help each other to comply with public health measures.
The overall Thai economy is structured to depend on service businesses. The outbreak caused tourism to disappear and the government had to stimulate other areas of the economy to close the income hole here. In the second quarter of 2021, Thai GDP grew by 7.5%, so if the lockdown measures were relaxed from September 1 onwards and maintain the situation, the results are likely to be positive and continue to expand until the beginning of 2022.
As for other security, the private sector will be able to adjust and develop businesses well. The growth in private profits saw opportunities for investment in Thailand and abroad. And see foreign countries who want to invest in Thailand, The Office of the Board of Investment (BOI) reported that the first half of 2021 requested 400 billion baht in investment promotion, more than double the same period last year. It is expected that by the end of this year, there will be up to 600 billion baht.
Service income Consumption, It is expected to improve sequentially from the loosening of lockdown measures. which the government has support measures such as “half each person” including the remaining “we travel together”. As for the income from tourism, it is expected that it will take some time for people to return to travel around the world.
By preparing a channel to open the country, “Phuket Sandbox”, which has attracted ten thousand people and has already booked more than 5 hundred thousand rooms, which will be a model for opening other tourist attractions. Including many countries watching as a model as well.
The government has to increase the number of tourists under public health safety measures to close the hole from the lost tourism as soon as possible.
In terms of infrastructure, over the past 6 years, there are 160 projects that will use them as a base for investment which will gradually be completed as a good infrastructure. Which is interesting for more than 40% of investors in the early days, most of them in the Eastern Economic Corridor Development Project or the EEC. It is the part that can be extended to move forward.