Thailand: Industry Ministry expects 2.5-3.5 percent sector growth this year
Thailand’s Ministry of Industry has projected up to 3.5 percent economic growth for the industrial sector, citing government stimulus measures and recovering export markets. However, high fuel costs and new Omicron coronavirus variant remain key challenges going forward.
Bangkok (NNT/VNA) – Thailand’s Ministry of Industry has projected up to 3.5percent economic growth for the industrial sector, citing government stimulusmeasures and recovering export markets. However, high fuel costs and newOmicron coronavirus variant remain key challenges going forward.
The Ministry of Industry expects Thailand’s industrial sector to see sustained2.5-3.5 percent economic growth this year. It also anticipates improved exportsector performance amid easing COVID-19 restrictions in partner countries andfurther economic campaigns introduced by the government.
Minister of Industry Suriya Juangroongruangkit said his ministry plans toenhance supply chains and work more closely with related agencies in key areas.These include electric vehicle manufacturing promotion, special loans for industrialrobotics and automation deployment, the promotion of biotechnology industry,and the development of smart electronics industry.
The Ministry of Industry is also expected to open a center for biotechnologypromotion in April. Additionally, it will propose its action plan for smartelectronics industry promotion to the national industry development committeein the first quarter.
Despite the expected sector-wide growth, the Ministry of Industry has cautionedthat the spread of the Omicron coronavirus variant should be closely monitored.Other areas of concern include high fuel prices and worker shortages,particularly in labor-intensive industries./.
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Illustrative image (Photo: thainews.prd.go.th) 
