BANGKOK, 24 March 2015 – Industry Minister Chakramon Phasukvanich has predicted that the Thai industrial sector will be able to grow 4 percent this year while being driven by the digital economy policy.
Commenting on the overall industrial business of Thailand, Mr Chakramon estimated that this year greater expansion will be seen in the sector, compared to last year. Following the projection of economic growth of 3.5-4 percent by the National Economic and Social Development Board and the Bank of Thailand, the minister said the industrial growth will fall in the same range, possibly reaching 4 percent.
Mr Chakramon noted that growth will be particularly evident in the construction, automobile, textile and agricultural industries. However, he cited the current slump in people’s spending as the biggest hurdle to industrial expansion.
As the government has announced a policy to establish a digital economy in Thailand, the minister affirmed that the policy will result in higher efficiency of industrial manufacturing, especially in terms of speed, accuracy and cost reduction.