Heavy industry will be doing well in 2010

BANGKOK, 7 December 2009 (NNT) – The Director General of the Export Promotion Department, Srirat Rastapana viewed that heavy industry would do well in 2010 due to all regional countries’ economic stimulus measures and the establishment of a Free Trade Area (FTA).

Ms Srirat stated that the entrepreneurs in the electronic appliances and automotive industry were confident that the export value of the products in the fourth quarter of 2009 would increase while the export figures would continue to improve in 2010. She added that the regional Asian market is a good hub for Thailand’s heavy export as a result of good economic measures from the government in each regional country as well as the outcome of the FTA which would be effective on 1 January 2010.

The factors affecting Thailand’s heavy exports include the Thai Baht appreciation, higher logistics cost than competitors, and labor shortages in the production field.

The industries that have good prospect for growth in 2010 include the automotive industry that will likely export 600,000 cars, an increase of 14% from 2009, as well as the printing industry.

Ms Srirat also said that the Department of Export Promotion (DEP) had coordinated with the officials concerned such as the Electricity Generating Authority of Thailand (EGAT), Metropolitan Waterworks Authority of Thailand (MWA) and Social Security Office (SSO) through the Commerce Ministry to ask for a temporary time extension on debt repayment to alleviate their financial burdens, and to help them continue their operations.