BANGKOK, Oct 7 – Japan’s hosting of the 2020 Olympic Games may contribute to tourism and the construction sector in Thailand, according to a senior Commerce Ministry official.
Nuntawan Sakuntanaga, International Trade Promotion Department director general, attributed Thailand’s positive export trend in the final quarter of this year to Japan’s preparations for the Olympic Games in Tokyo.
The country’s exports in the first eight months of the year were down 4 per cent while a 2 per cent growth was predicted for Q4, she said.
“The central bank of Japan’s economic stimulus measures since early this year has strengthened the country’s economy, exports and confidence in the business sector, contributing to surging stocks, depreciating yen and economic expansion,” she said.
She said Thailand should cash in on the opportunity to promote Thailand’s exports and investments in Japan particularly businesses involving tourism and construction.
She said Thailand’s food industry under the “Thai Kitchen to the World” policy could penetrate the Japanese market and attract foreign tourists to the country during the sports event.
Materials for the construction of hotels, highways, sport-related infrastructure, furniture and decorative products will be in great demand in Japan and Thailand’s chance of selling the goods to Japan is high, she said.
Phatai Sooksommai, executive director of Thailand’s International Trade Promotion Office in Japan, said the Tokyo administration will build new stadiums and athletes villages for the Olympic and Paralympic games.
Additional budgets will be earmarked for other infrastructure developments such as airport runways, new railways and train stations, he said, adding that Japanese contractors might have to find joint ventures for some of the construction projects.
Mr Phatai said the pre-Olympic mega projects will lead to the massive employment of at least 152,000 labourers nationwide.