Thailand's economy is predicted to grow at almost 6% this year, despite setbacks from a massive flood last year that caused ripple effects throughout the international auto and technology industries.
-James Moss, Nomura
Thailand's economy is predicted to grow at almost 6% this year, despite setbacks from a massive flood last year that caused ripple effects throughout the international auto and technology industries. US investment in Thailand is already worth $13 billion, and with this new projection from Nomura, it's not surprising that bilateral trade between the US and Thailand rose nearly 13 percent last year.
Such heavy investment in Thai banks is expected with firms like Toyota and GE locating their hubs in Thailand, a country known for its position as one of the fastest-growing economies in the world, and as a leader in the expanding automotive, electronics and food processing industries. Thai banks and US investors are issuing loans in Thailand for its hi-tech manufacturing and services sectors that operate at a noticeably higher level than other Southeast Asian countries, and therefore offer a relatively low-cost operation with a workforce that is educated and at the center of the world's most active and promising growth market.
