Thailand
Thailand: Sentiment registers eight-month high in November
The Thailand Industry Sentiment Index (TISI) in November rose to 85.4 points, the highest in eight months, as the reopening of the country, ongoing stimulus packages and export expansion boosted confidence among large and small manufacturers, says the Federation of Thai Industries (FTI).
In October, before the government allowed fully vaccinated foreign tourists to enter without quarantine, the index stood at 82.1 points.
“The reopening of the country benefits 45 industries. All sectors, covering large, medium and small operators, have enjoyed business growth,” said Supant Mongkolsuthree, chairman of the FTI.
The November TISI was based on a survey of 1,381 entrepreneurs across 45 industries. Many respondents said they were more worried over the foreign exchange rate this time than in October, but were less concerned about oil prices.
Negative factors, including Covid-19, high energy costs, expensive freight rates and a shortage of workers in manufacturing and construction sectors, are still concerns.
“The business sector doesn’t want the government to impose lockdown measures to control the pandemic again because it will affect the domestic economy,” said Mr Supant, referring to the growing worry over the new Covid-19 variant Omicron.
The Joint Standing Committee on Commerce, Industry and Banking is scheduled to meet today to discuss the Omicron situation. Business leaders are monitoring the new variant and want the government to tighten preventive measures to brace for the possible negative impact of the virus.
Suparat Sirisuwanangkura, vice-chairman of the FTI, said the federation wants the government to speed up administering second doses and boosters to protect against Omicron.
Source: https://www.bangkokpost.com/business/2228259/sentiment-registers-eight-month-high-in-november