BoT: Thai economy thriving this year

The Bank of Thailand (BoT) forecasts a brighter economy in 2012 with a 4.8 percent growth, remarking that government spending will remain an important factor boosting the Thai economy.

Garments face troubled times

Vietnam's garment and textile industry will face a downturn in contracts next year due to the poor economic conditions in the US and Europe, despite monthly export revenue of more than 1 billion USD, the Ministry of Industry and Trade said (MoIT).

Ministry statistics showed the sector would reach its export turnover target of 13-13.5 billion USD this year due to the growth in the first nine months of the year which saw the industry hit an export record of 10.5 billion USD, the highest level in the past four years.

Garment makers face slowdown

The garment industry may well face slow development despite experiencing export growth of 28 percent in the first nine months of this year, according to the Vietnam Textile and Apparel Association (VITAS).