Thailand’s industrial index showed positive growth for the third consecutive month in November, thanks to the government’s economic recovery efforts. The Federation of Thai Industries now expects the sentiment score to continue rising over the coming months.
The Federation of Thai Industries (FTI) said the Industries Sentiment Index (ISI) for November 2021 stood at 85.4 points, showing a 3-month consecutive growth from the improving COVID-19 situation.
FTI Chairman Suphan Mongkolsuthee said the more relaxed COVID-19 measures introduced by the government have allowed some economic activities to restart, along with the reopening of Bangkok, Krabi, Phang Nga, and Phuket to foreign visitors.
The FTI is projecting the ISI score will continue increasing to 97.3 points over the next 3 months.
Businesses are still however concerned about the potential outbreak of COVID-19 cases and wanted the government to speed up the rollout of the second COVID-19 vaccine doses, as well as boosters, while keeping disease surveillance measures high in order to prevent the transmission of the new Omicron variant.
Also, businesses are urging the government to speed up the import of foreign workers from neighboring countries in order to solve worker shortages in the labor market.
They also want the government to provide a form of compensation for the increasing production costs, including a subsidiary to maintain electrical prices, while at the same time continuing to introduce economic stimuli and supporting locally made products through government and private procurements. (NNT)