External factors cited as Thailand's competitiveness rankings dip slightly
Play
Thailand's competitiveness rankings have fallen slightly this year because of its high vulnerability to external factors, but other factors show improvement, said Tevin Vongvanicha, chairman of Thailand Management Association's Centre for Competitiveness.
Thailand is in 30th place on the International Institute for Management Development (IMD) global competitiveness list and 32nd on the World Economic Forum’s list this year.
“This year, Thailand’s rank dropped by one place on both the IMD and WEF lists, given that its economy, which relies on exports, was highly sensitive to external factors, particularly China’s economic slowdown,” said Tevin, who is also chief executive of PTT, the country’s largest energy conglomerate.
Thailand may have to be cautious over China’s economic slowdown, the US Federal Reserve’s likely interest-rate increases, money-market volatility and capital outflows from emerging markets, he said.
