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Thai economy to return to pre-pandemic level this year: Office

The Thai economy is expected to return to the pre-pandemic level in 2023 thanks to the recovery of the tourism sector and private consumption, according to Thailand’s Eastern Economic Corridor Office (EECO).
Bangkok (VNA) – The Thai economyis expected to return to the pre-pandemic level in 2023 thanks to the recoveryof the tourism sector and private consumption, according to Thailand’s EasternEconomic Corridor Office (EECO).

The office predicted that the country’s theeconomy will expand by 3.8% this year despite the risk of declines in export due to rising production costs andhigh interest rates.

In the third quarter of 2022, the Thai economygrew 4.5%, it said, adding that investment in production and construction sectorsrose despite rising production costs.

According to the EECO, operators of 376projects in industries targeted for the Eastern Economic Corridor (EEC) havewon investments worth 247 billion baht (nearly 7.2 billion USD) for the first nine months of last year.

The target industries includenext-generation automobiles, medical and wellness tourism, agriculture, foodfor the future, robotics, aviation and logistics, biofuels and biochemicals,and digital technologies.

Investment in these industries is expectedto expand further, EECO said.

It added that 77 factories worth 6.66billion baht had been set up in the EEC in the third quarter last year, 13 ofwhich worth 1.66 billion baht are located in Chachoengsao,40 worth 2.43 billion baht in Chonburi and 24 worth 2.55 billion in Rayong./.
VNA
#Thai economy #Eastern Economic Corridor Office (EECO) #digital technologies #Eastern Economic Corridor (EEC) #Vietnam #Vietnam news #Vietnam News Agency
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