BANGKOK, 29 July 2015 – Japanese businessmen in Thailand said they believed the Thai economy would improve in the latter half of this year due to the government’s economic stimulus and acceleration of budget disbursement by government units.
Japan External Trade Organization (JETRO) President and Chief Representative for ASEAN and South East Asia Masayasu Hosumi has revealed in a recent interview that the overall performance of Japanese businesses was not doing well during the first 6 months of this year.
Mr. Hosumi added that the performance declined by 4% when compared to the second half of last year due to declining spending of the Thai public. However, he believed that the situation would pick up later this year.
He expected a business growth of as much as 20% as a result of higher confidence in the Thai government’s stimulus measures. Car exports are also expected to do better in the second half after an export figure for June showed a negative growth as old models were being replaced.
JETRO is urging the Thai government to quickly implement economic stimulus measures, improve basic infrastructure in Bangkok and its vicinity and remove certain restrictions to allow migrants to start a business as well as maintain the Thai currency’s stability.