Thai economy will take years to recover after COVID-19

Kalin Sarasin, chairman of Thai Chamber of Commerce (TCC).
Kalin Sarasin, chairman of Thai Chamber of Commerce (TCC).

BANGKOK – It could take up to a year for getting back to normal after the coronavirus crisis, said the Thai Chamber of Commerce (TCC).

The Board of Trade of Thailand held a seminar on New Normal for Business Sector.

Kalin Sarasin, TCC chairman said the crisis would not end in one or two months but could prolong to one year.

He said TCC kicked off the project to ensure the safety for people after reopening of businesses.

TCC worked with the Public Health Ministry to classify businesses into four groups: White (essential low-risk services such as those involving food and medical supplies), Green (medium-risk), Yellow (medium -high risk) and Red (high risk)

The white group is considered essential for people’s livelihoods and was allowed to resume businesses in the first phase.

TCC also helped design “Thai Care” initiative to promote new normal lifestyles after the pandemic.

Somkiat Tangkitvanich, president of the Thailand Development Research Institute (TDRI) said the Covid-19 pandemic could prolong upto a year and one and a half years and it could take three years for the Thai economy to return to the way it was before the pandemic.

Kamnuan Ungchusak, an adviser to the Disease Control Department and to the public health minister said the pandemic would end when a COVID-19 vaccine would be available.

In Thailand, seasonal flu happens every year from June to August, it needs to be prepared to handle the situation, he said. (TNA)