Thailand’s industrial confidence dips ahead of April wage hike
The Industrial Confidence Index (ICI) of Thailand has declined despite continued export growth, as businesses, especially SMEs, expressed concern over the upcoming minimum wage hike in April.
Bangkok (NNT/VNA) - The Industrial Confidence
Index (ICI) of Thailand has declined despite continued export growth, as
businesses, especially SMEs, expressed concern over the upcoming minimum wage
hike in April.
President of the Federation of Thai Industries Jen Namchaisiri revealed that the February ICI polling 45 industrial sectors declined to 89.9 from 91 in January.
The decline was due to concerns over rising principle costs for raw materials, the upcoming wage hike, and greater competition. Exporters are also concerned about currency risks and potential trade barriers.
Large businesses remained confident, thanks to an increase in purchase orders and sales abroad, especially in the auto and auto parts, food, electronics, and petrochemical industries.
The auto industry in February reportedly produced more than 178,000 cars, an increase of 15.3 percent compared to the same period last year.
Domestic car sales totalled over 75,000 vehicles, an increase of 10.3 percent while car exports hit over 102,000 vehicles, an increase of 4.05 percent.
Auto exports have expanded for the fourth straight month, with major buyers being the Middle East, Central and South America, and Australia.-VNA
President of the Federation of Thai Industries Jen Namchaisiri revealed that the February ICI polling 45 industrial sectors declined to 89.9 from 91 in January.
The decline was due to concerns over rising principle costs for raw materials, the upcoming wage hike, and greater competition. Exporters are also concerned about currency risks and potential trade barriers.
Large businesses remained confident, thanks to an increase in purchase orders and sales abroad, especially in the auto and auto parts, food, electronics, and petrochemical industries.
The auto industry in February reportedly produced more than 178,000 cars, an increase of 15.3 percent compared to the same period last year.
Domestic car sales totalled over 75,000 vehicles, an increase of 10.3 percent while car exports hit over 102,000 vehicles, an increase of 4.05 percent.
Auto exports have expanded for the fourth straight month, with major buyers being the Middle East, Central and South America, and Australia.-VNA
You should also see
Energy industry needs nearly 5 trillion VND of investment in 2021-2030
The total investment capital demand for the whole energy sector in the 2021-2030 period is between 4.13-4.8 trillion VND (163.01-189.46 million USD), according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.
See more
World
Thai central bank intervenes to stabilise currency
The Bank of Thailand (BoT) said it has intervened in currency markets at times to ease any excessive moves in the THB, adding that the current policy rate is robust and conducive to economic recovery, reported the Bangkok Post.
World
Vietnam appeals for maximum self-restraint, end to hostilities in Middle East
A representative of Vietnam appealed to all the parties concerned to exercise maximum self-restraint and to end hostilities, while addressing a United Nations Security Council (UNSC) open debate on the Middle East and Palestine situation on March 25.
World
Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) has reported.
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
World
Argentinian media praises Dien Bien Phu Victory
Argentinian newspapers have called Vietnam's Dien Bien Phu Victory (May 7, 1954) a symbol of the national liberation movement of oppressed and colonialised peoples worldwide.
