Thailand

Thailand’s economy appears to be regaining momentum following last year’s devastating floods that adversely affected exports and GDP. Consumer demand is on the rise and the state-backed rebuilding programme is channelling funds into infrastructure. There are still concerns, however, over the sustainability of the recovery if some of the country’s major markets fall back into recession.

In subtropical South-east Asian climates, where air conditioning accounts for about 50% of a building’s energy use and up to 30% of operating costs, energy efficiency requires keeping cold air inside and hot air out. Some sector participants estimate that improvements to the “building envelope” can reduce the energy required to cool a building by 50-80%.

A new set of agricultural strategies for the 2012-16 period were approved by the Thai cabinet at a meeting in mid-March, with much of the focus placed on improving food sustainability, promoting the cultivation of high-quality produce and enhancing international competitiveness.

The decision by yet another major player in Thailand’s retail industry to go ahead with an initial public offering (IPO) has fuelled speculation that the sector could be bouncing back from a challenging year, although smaller, independent stores are still struggling to overcome a slump in sales.

The once elusive promise of “zero energy”, a long-sought milestone in the construction industry, has recently become an attainable objective both globally as well as in Asia. Despite the progress, adapting construction techniques and technology to tropical climates remains a challenge that has only been overcome by a handful of private sector companies.

Thailand’s government is confident the country’s economy is well on the way to recovery, following the devastating floods in late 2011, to return to the high levels of growth witnessed before the disaster. Recovery efforts will take time, however, as further investments in infrastructure and social support are still required.