The government recent lifting of Covid lockdowns in several provinces and allowed certain businesses and activities to resume resulting in Thailand’s industries sentiment index to have risen for the first time in six months.
The Federation of Thai Industries’ (FTI) Thai industries sentiment index for September stood at 79 points, with the FTI attributing the improvement to the softening of the COVID-19 situation and the government’s relaxation of Covid restrictive measures. Certain businesses, including malls, were allowed to reopen.
The FTI’s index forecasting industries’ sentiment for the next 3 months rose to 93, due to entrepreneurs’ belief that Thailand’s upcoming reopening to tourists would enable the tourism sector and the economy at large to recover. The FTI also cited progress in the nationwide COVID-19 vaccination drive and continued relaxation of Covid measures as having contributed to the rise of the forecast index.
Federation of Thai Industries (FTI) Chairman Suphan Mongkolsuthee said that in spite of the improvement in sentiment, close attention needs to be paid to rising oil prices, effects on raw materials for the Thai food industry brought on by floods, and the ongoing shortage of semiconductor chips for the automotive and electronics industry. Owing to these factors, Mr. Suphan said he would like the government to extend current debt moratorium measures for businesses afflicted by Covid restrictions for 6 months to 1 year. (NNT)