Thai Wah Plc, a starch and starch-based food company, is optimistic about the global economy in 2023 and projects revenue growth of nearly 20% to 12-13 billion baht.
Though some analysts predict a global recession this year, Thai Wah sees opportunities to benefit from its business expansion in Asia-Pacific and the recovery of demand for its products as China’s economy reopens, said Ho Ren Hua, chief executive of Thai Wah.
Last year the World Bank warned of a global recession in 2023 after central banks raised interest rates in response to high inflation.
Beijing announced the reopening of its borders from Jan 8.
“We…
