FTI speculates more investors will move to Thailand
The Federation of Thai Industries (FTI) has published a brief on the situation and trends in the electrical and electronics industries for the period January-September 2019, which notes that the total export value of electrical appliances products has dropped by 2.15 per cent over the same period last year to Bt576 billion, while that of electronic products (including telecommunication groups) has seen a 11.36 per cent decrease to Bt822.07 billion.
However, despite the decrease in exports for both sectors, the FTI estimates that they could well bounce back at the end of 2019 as the international trade dispute is pushing several companies and investors to move their production facilities to Southeast Asia. According to FTI, the top destinations include Thailand, Vietnam and Cambodia.
FIT also attributed the likely upswing in the electrical and electronics trend to the government’s policy to extend investment promotion measures in the Eastern Economic Corridor (EEC) and SMEs promotion campaigns toward next year, which should attract more investors to Thailand instead of neighboring countries.
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