2023 positive for Thailand as EECO predicts full economic recovery
The Thai economy should return to the pre-pandemic level by mid this year thanks to the recovery of the tourism sector and private consumption, the Eastern Economic Corridor Office (EECO) reckons.
The agency said on Monday that it believes the economy will expand by 3.8% this year.
“However, there is still the risk of declines in export due to rising production costs and high-interest rates,” EECO said.
The economy expanded by 4.5% in the third quarter of last year, it said
“Investment in production and construction sectors in the third quarter of last year rose despite rising production costs,” it said.
EECO said the operators of 376 projects in industries targeted for the Eastern Economic Corridor (EEC) have won investments worth 247 billion baht for the first nine months of last year.
The target industries include next-generation automotives, medical and wellness tourism, agriculture, food for the future, robotics, aviation and logistics, biofuels and biochemicals, and digital technologies.
“Investment in these industries is expected to expand further,” EECO said.
It added that 77 factories worth 6.66 billion baht had been set up in the EEC in the third quarter last year, 13 of which worth 1.66 billion are located in Chachoengsao, 40 worth 2.43 billion baht in Chonburi and 24 worth 2.55 billion in Rayong.
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