Workers operate machines at Kobuta Farm in Chonburi province (Photo: VNA)Bangkok (VNA) – The Federation of Thai Industries (FTI) forecasted that thecountry’s economy, particularly exports, will be driven by high-potentialindustries such as agriculture, food, cars and auto parts, as well as bio-circular and green (BCG) manufacturing.
BCG,which was declared a national agenda item in 2021, aligns with global campaignsto protect the environment. Accordingly, manufacturers are encouraged to adopttechnologies that add value to their products and cause minimum impact on the environment.
KriengkraiThiennukul, chairman of the FTI, said demand for products from these industrieswill continue to grow next year and the export sector is expected to benefitfrom this trend.
Thailand’sJoint Standing Committee on Commerce, Industry and Banking said the country’s GDPis forecast to grow by 2.8-3.3% next year, with exports estimated to increase by2-3% and inflation at 1.7-2.2%. The2024 economic growth projection includes the government's plan to implement a 10,000-THB digital money handout to everycitizen over 16 years old.
TheFTI expects the value of food exports to tally 1.65 trillion THB (46.3 billion USD) in 2024. Food export value increasedby 4.6% year-on-year to 1.16 trillion THB from January to September this year and itis projected at 1.55 trillion THB for the whole year.
Kriengkraisaid renewable energy development should also gain momentum next year asforeign investors demand clean energy to fuel their businesses in Thailand.
Renewableenergy is becoming more important as the world steps up efforts to reducecarbon dioxide emissions from fossil fuels to slow down globalwarming.
According to Kriengkrai, techcompanies want 100% renewable energy as they aim to reach net-zero targets./.
