BANGKOK, 12 Feb 2014 The construction sector is eyeing business expansion to countries in the ASEAN Economic Community (AEC) while also maintaining regular customers in the domestic market.
According to Mr. Tat Thongpak, the Managing Director of Project Planning Service Public Company Limited (PPS), the 2014 outlook for Thailand’s construction sector seems bleak when compared to those in the previous years. He attributed the sector’s falling growth rate to the government’s delay in implementing its 2.2 trillion baht Infrastructure Development Project, prompting the sector to hold back its investment plans in the country.
Mr. Touch said his company has thus adjusted its strategy by turning more to expanding its engineering consultancy and construction management services to neighboring ASEAN countries such as Myanmar and Laos. He added that the PPS’s 2014 goal is to seal at least one deal in Myanmar. Mr. Touch also said the PPS would still maintain its presence in the domestic market by putting more emphasis on contacts with real estate developers, reasoning that the property sector still attracts continuous investment.