Captains of industry in Thailand are expressing optimism about the economic outlook for the coming year, as both private and state sectors are expected to invest heavily in restoring infrastructure damaged by recent flooding. The restoration efforts are anticipated to create jobs and stimulate growth.
Thapana Sirivadhanabhakdi, president and CEO of Thai Beverage, agrees with Charoen Pokphand chairman Dhanin Chearavanont, who highlighted the potential for economic expansion due to strong rehabilitation packages from the government and business sectors. These packages would result in increased investment, expenditure, construction work, and employment opportunities.
As floodwaters recede, the business sector is expected to return to normal within one to two weeks. Thapana believes that businesses have learned valuable lessons in risk management and preparation from the disaster. ThaiBev has found opportunities to outsource beer and beverage production to other manufacturers in the region, aligning with the upcoming ASEAN Economic Community in 2015.
Somprasong Boonyachai, chairman of the group executive committee of Shin Corp, also expressed confidence in economic growth for next year, driven by the massive spending on infrastructure restoration.
Despite some companies, like GMM Grammy, missing their profit targets for the current quarter, industry leaders believe that the next quarter will see businesses bounce back, supported by government spending and the resumption of operations for affected companies.
