World

Thailand predicted to see zero growth this year

Kobsak Pootrakool, senior executive vice-president at the Bangkok Bank (BBL), has predicted the Thai economy to see zero growth at best this year, as increasing COVID-19 infections are expected for at least another 2-3 months and the tourism industry will not recover in the fourth quarter as projected.
Thailand predicted to see zero growth this year ảnh 1People wear masks at a shopping mall in Bangkok (Photo: AFP/VNA)
Bangkok (VNA) - Kobsak Pootrakool, senior executivevice-president at the Bangkok Bank (BBL), has predicted the Thai economy to seezero growth at best this year, as increasing COVID-19 infections are expectedfor at least another 2-3 months and the tourism industry will not recover inthe fourth quarter as projected.

BBL previously projected Thai economic growth to be 1-2 percent this year.

As reported by local media, Kobsak, also former minister tothe Prime Minister's Office, said the rapid spread of the pandemic has taken aheavy toll on the economy and domestic businesses nationwide.

New outbreaks can also occur later if inoculations fail tocover the whole nation, he warned, adding that another risk is emergingvariants of the virus.

According to him, the epidemic has changed consumerbehaviour as people are now more likely to save money rather than spend becauseof the uncertainty.

Kobsak said the prolonged outbreak is also affecting foreign travellers'confidence. Tourism accounts for 10-15 percent of GDP and it is unlikely torecover in the fourth quarter this year as previously expected.

The escalating number of infections in Thailand also affectsthe export-oriented manufacturing sector as many factories have been forced tocease production, he added./.
VNA
#Kobsak Pootrakool #Bangkok Bank #COVID-19 #local media #domestic businesses #new outbreaks #vietnam #vietnam news agency #vietnamplus
Follow VietnamPlus

Related News

See more

Timor-Leste President Jose Ramos-Horta (Photo: VNA)

Timor-Leste diversifies economy, seeks to attract investment

The President noted Timor-Leste is pursuing sustainable development, stronger regional connectivity and expanded international cooperation while seeking investment opportunities in energy, tourism and emerging economic sectors to reduce its dependence on oil and gas revenues.

Minister Counsellor Nguyen Hai Luu, Deputy Permanent Representative of Vietnam to the UN (Photo published by VNA)

Vietnam cooperates with UN to advance gender equality

Minister Counsellor Nguyen Hai Luu highlighted Vietnam’s positive achievements in promoting gender equality, noting that 13 of the 20 targets under the national strategy on gender equality had been met or exceeded by 2025.

General Secretary of the Communist Party of Vietnam Central Committee and President To Lam meets with Russian President Vladimir Putin in Moscow on September 9, 2026. (Photo: VNA)

Russian public, experts praise top Vietnamese leader’s visit

Positive reactions to General Secretary and President To Lam’s visit have reaffirmed Vietnam’s steady foreign policy amid global changes, while highlighting the enduring trust and friendship between Vietnam and Russia, which are working together to create new breakthroughs in bilateral cooperation.

Thailand eases rules for foreign enterprises

Thailand eases rules for foreign enterprises

The regulatory adjustment is part of Thailand's efforts to simplify regulations governing foreign business operations and clarify licensing requirements, while simultaneously fostering economic development and enhancing the country's international competitiveness.

Julie Le Saos, Advisor for Asia, Oceania and the Americas to the French President (Photo: Pacific Newsroom)

France seeks to promote strategic cooperation with Vietnam: official

According to the Élysée Palace, a key objective of the visit to France by Party General Secretary and President To Lam is to drive the implementation of the Comprehensive Strategic Partnership, established in 2024, thereby helping reinforce the strategic autonomy of both nations and supporting Vietnam’s ambitious development goals.

A cargo port in Semarang, Central Java province, Indonesia. (Photo: Getty Images/VNA)

Malaysia, Indonesia seek to lift two-way trade

Malaysian Minister of Investment, Trade and Industry Datuk Seri Johari Abdul Ghani said improved trade facilitation could substantially increase transaction volume, with the Border Trade Agreement playing an important role in facilitating economic activities.

Vietnamese Ambassador to India Trinh Minh Manh (fifth from right) and Vietnamese Consul General in Mumbai Le Quang Bien (sixth from right) at the flight route inauguration ceremony (Photo courtesy of the Vietnamese Embassy in India)

Indian airline launches direct Mumbai–Hanoi route

The new route operates four flights a week and is the first direct Mumbai–Hanoi service operated by an Indian airline. Hanoi has become Akasa Air’s seventh international destination and its second destination in Southeast Asia, after Phuket, Thailand.