The University of the Thai Chamber of Commerce (UTCC) President Thanawat Phonwichai has revealed the latest TCC Confidence Index (TCC-CI) report for September 2020, showing a 4th consecutive month of improved business confidence.
365 samples were taken nationwide by the TCC-CI for September 2020 and it reports a score of 32.5, higher than the previous months. The score is still, however, below the 50 benchmark, due to persisting concerns over the COVID-19 pandemic and the current political landscape, the government’s decision to extend the State of Emergency, an underperforming export sector in August and a slightly weakened Thai baht currency.
The UTCC President suggests the government should enforce pricing control measures, as most people have been affected by the COVID-19 crisis, resulting in lower spending.
He urged the government to maintain political stability, to improve confidence among investors, find measures to reduce informal household debt and attract more foreign investors to conduct businesses in Thailand. (NNT)