Diversified and globally integrated to a high degree, Thailand’s economy has also proven itself to be resilient to shocks of recent years, both external and internal. The country’s decades-long incentives-based policy for attracting foreign direct investment (FDI) has been one of the great successes of developing-market economics, having boosted the...
The Kingdom of Thailand, formerly known as Siam, is situated in the heart of South-east Asia. Thailand lies between the Lao People’s Democratic Republic to its north-east, Myanmar to its north-west and western, Cambodia to the south-east, and Malaysia on the southern border.
In the light of the devastation caused by flooding, I have huge sympathy and admiration for the courage, dignity and determination of Thai people. Thailand is open for business and can be confident of its future, and the world should be confident as well.
Long-term trends have Thailand’s economy tilting ever closer to its own region, renewing a focus that had taken a back seat as the growth of manufacturing in the country led to a greater exposure to the world’s most developed economies. Natural market forces are one catalyst, as consumer demand in nearby countries such as China and Indonesia is on...
One of the most important changes to the Thai economy expected for 2012 came on April 1, when the minimum wage in Bangkok and six other of Thailand’s 75 provinces was boosted from about BT220 ($7) to BT300 ($9.60) – a 36% jump. The wage hike will be applied to all provinces in January 2013, and will fulfil one of the current government’s major...
How did the floods of late 2011 affect the administration’s priorities? What reforms are most pressing following such a natural disaster?
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