Thailand sees highest economic growth in 15 years

20:49, September 01, 2010      

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Thailand enjoys its highest economic growth in 15 years during the first half of this year despite political turmoil, Industry Minister Chaiwuti Bannawat said on Wednesday.

Gross Domestic Product (GDP) growth for the first half of 2010 is about 10 percent, the highest since 1995, Chaiwuti made the remarks during a speech at a seminar held by the Board of Investment of Thailand (BoI).

Last week, the National Economic and Social Development Board (NESDB) said a report that economy in the second quarter of 2010 grew by 9.1 percent, thus the first half of 2010 Thai economy expanded by 10.6 percent.

The minister said as Thailand has a strong economic structure and global economy is improving, all of this has combined to lift the country to significant levels of economic growth coming out of the global recession.

Having seen GDP of the first half, the NESDB decided to change the estimated GDP of the second half the year from 3.4 per cent to 7.5 percent, he said.

"I even think that GDP in the second half of the year could reach eight percent if political situation get back to normal," the minister said.

The minister said that the government is now trying to amend political conflict as that will not only bring peace to Thailand, but also benefit the country's economy.

He added that he and Prime Minister Abhisit Vejjajiva will visit China next week and try to persuade Chinese investors to invest in Thailand.

Abhisit is scheduled to visit China in early September. During his stay in China, he will also visit the Shanghai World Expo.

Source: Xinhua


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