Thailand' reopening plan expected to aid economic growth

Bangkok (VNA) – Thailand’s plan to fully reopen the country within 120 days would support economic growth of 2.3 percent this year as forecast by the Fiscal Policy Office (FPO), said the office's director-general Kulaya Tantitemit.

Thai Prime Minister Prayut Chan-o-cha said on June 17 that the nation will fully reopen by mid-October, with all businesses able to resume normal operations and visitors free to travel across the country. Roughly 50 million people will have received at least one COVID-19 vaccine jab by then.

Kulaya said the 120-day target falls in the fourth quarter, in line with the FPO's forecast made in April that foreign arrivals will return to Thailand in greater numbers during this period.

The FPO predicted if the country can fully reopen this year, Thailand will record around 2 million foreign arrivals, of which 190,000 are expected to arrive in the third quarter and another 1.7 million in the fourth quarter.

Thailand's economy has struggled because of the severe impact of the pandemic. In April, the FPO reduced its economic growth forecast for 2021 to 2.3 percent, down from 2.8 percent in January, primarily due to the third wave that began in April.

Meanwhile, the Federation of Thai Industries (FTI) said the reopening target will help improve business confidence, even if there is a risk of more COVID-19 infections.

A full reopening of the country will boost the economy, said FTI vice-chairman Kriengkrai Thiennukul, adding that the tourism sector and related businesses such as restaurants, spas and factories that supply products to these businesses will recover./.