Chamber of Commerce expects 2014 expansion to reach 5% at most

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TRANG, 23 November 2013 The Chamber of Commerce has admitted the political situation at present will have effects on the country’s economy, although it expects economic expansion to reach 5% next year due to windfall from the mega infrastructure projects. 

Somsak Parisuttho Hemthanon, Governor of Trang province, also attended the 31st national Chamber of Commerce meeting at Thammarinthana Hotel in Trang.

Phonsin Patcharingtanakun, Deputy Chairman of the Chamber of Commerce, said at the meeting that Thailand’s competitiveness has been ranked between the 35th-38th place in the world by the World Economic Forum, and the political situation may affect this ranking in the future. Mr. Phonsin viewed that the best solution would be for each side in the conflict to look forward and give priority to the economy, because the economy drives all other aspects of the country.

Regarding this year’s economic growth, the Chamber of Commerce expects a 3-3.5% expansion. In next year, a maximum expansion of 5% may be achieved due to the capital influx from the 2 trillion Baht investments in infrastructure at the year’s end. Mr. Phonsin said the Chamber of Commerce was in favor of the investments, but noted that in order to bring about concrete benefits and create worthy investments; the projects should be completed transparently and without corruption.