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Friday, March 29, 2024

Thailand urgently needs a post-pandemic economic plan

Supavud Saicheua is an adviser to Kiatnakin Phatra Financial Group.

Shortly after launching a nationwide COVID-19 vaccination campaign last month, Thai Prime Minister Prayuth Chan-ocha set a deadline of 120 days to reopen the country to foreign tourism and resume normal economic activity.

Pandemic-related restrictions were further eased on June 21, with dining in Bangkok restaurants allowed up to 11 p.m., along with gatherings of up to 50 people.

Less than a week later, the government made a surprise U-turn, banning dining in restaurants and prohibiting all activities involving more than 20 people for Bangkok and nine other provinces, effective for 30 days.

Even if they are rescinded in 30 days, these new measures will inflict significant economic losses, and further dent consumer confidence. Added together, the 10 provinces account for more than 50% of Thailand’s gross domestic product,…

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