ASEAN: Thailand sees highest economic growth in 15 yrs

Thailand enjoys its highest economic growth in 15 yrs during 1-H of this year despite political turmoil, Industry Minister Chaiwuti Bannawat said Wednesday.
Gross Domestic Product (GDP) growth for 1-H of Y 2010 is about 10%, the highest since Y 1995, Chaiwuti made the remarks during a speech at a seminar held by the Board of Investment of Thailand (BoI).

Last week, the National Economic and Social Development Board (NESDB) said a report that economy in Q-2 of Y 2010 grew by 9.1%, thus 1-H of Y 2010 Thai economy expanded by 10.6%.

The minister said as Thailand has a strong economic structure and global economy is improving, all of this has combined to lift the country to significant levels of economic growth coming out of the global recession.

Having seen GDP of the first half, the NESDB decided to change the estimated GDP of 2-H the year from 3.4 to 7.5%, he said.

“I even think that GDP in 2-Half of the year could reach 8% if political situation get back to normal,” the minister said.—Paul A. Ebeling, Jnr. www.livetradingnews.com

The minister said that the government is now trying to amend political conflict as that will not only bring peace to Thailand, but also benefit the country’s economy.

He added that he and Prime Minister Abhisit Vejjajiva will visit China next week and try to persuade Chinese investors to invest in Thailand.

Abhisit is scheduled to visit China in early September. During his stay in China, he will also visit the Shanghai World Expo.

Posted by Shayne Heffernan on Sep 1st, 2010and filed underAsia, Markets.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site