BANGKOK, Thailand – Despite the devastating floods that hit Thailand in 2011, forcing a freeze in automotive and computer chip manufacturing critical to the global supply chain, the country’s GDP is expected to reach six percent this year according to the Bank of Thailand.

In fact, the latest Bloomberg Emerging Markets (www.bloomberg.com/news/2012-02-22/thailand-proving-best-after-china-among-global-emerging-markets.html) report ranked Thailand second only to China as one of the most-promising emerging and frontier markets for investors. Thailand was also ranked as the easiest place to do business of all top 15 emerging markets in the study.

Thailand’s government has invested over $11 billion in future flood defenses to protect the country’s infrastructure which plays a significant role in attracting major investments from the world’s most innovative companies, including GE, Ford, Kraft and Pfizer. The Thailand Board of Investment, the government’s investment promotion agency, recently reported that despite flooding, foreign investment applications for Thailand increased by 92 percent year-over-year in the first two months of 2012, to over $5 billion.

“Thailand’s strategic location at the center of Asia is an asset that will only increase as the new industrial economies and their populations’ GDP and purchasing power rise,” said Atchaka Sibunruang, Secretary-General of the Thailand Board of Investment.

“Our country’s world-class infrastructure is comprised of well-developed supply chains for automotive and technology manufacturing and our workforce has a knowledge base in those industries that has advanced for decades. These strong economic fundamentals will continue to solidify Thailand as a leading economic power in the future.”

Thailand’s strengths lie in its position as the largest car manufacturer in Southeast Asia and the producer of around 40 percent of the world’s computer hard disk drives. The country’s vast natural resources have also made it the world’s top producer of rubber, the second largest exporter of sugar and the top rice exporter. These assets, along with quick access to 575 million of Southeast Asia’s consumers, make the country a prime investment location for multinationals in the decades ahead.

With manufacturing expected to fully recover to pre-flood levels by the end of the second quarter, and domestic and export markets on the rebound from the global financial crisis, Thailand’s location at the center of Asia’s rapidly expanding consumer market looks ever more attractive to future investors.

For more information about the Thailand Board of Investment, visit www.thinkasiainvestthailand.com.

Image Courtesy of  Wutthichai / Shutterstock.com

The article Thailand Economy Recovering from 2011 Floods appeared first on The Toonari Post - News, Powered by the People!.

Predicted high tides this weekend have caused thousands of Bangkok residents to evacuate the city for drier ground after the government announced an official five-day holiday. Three months of unusually heavy rains have left 381 dead and 110,000 displaced. An estimated 4.6 to 16 billion dollars in property destruction has also been wrought in areas of northern and central Thailand.

Although the major commercial areas of Bangkok have remained less affected, some residential areas are heavily submerged. On Sunday, water levels were expected to reach 2.6meters, or over 8 feet. Despite the destruction, many breathe a sigh of relief knowing that the economic core of Bangkok, and major world producer of computer hard disk drives, is still intact.

However, Bangkok officials are hesitant to admit victory over the deluge when flood waters offer an ideal breeding ground for diseases such as malaria and dengue fever. Clean drinking water has also become limited, and many international governments are issuing travel advisory statements.

Some residents outside of major cities have become cut off from relief efforts and supplies. UNICEF is providing thousands of mosquito nets to limit the spread of disease, and the Red Cross is donating bottled water and relief kits.

The Washington Post notes the vast environmental differences concerning flooded and dry sections of Bangkok, home to over 9 million people.

“The desperate images of disaster contrast sharply with scenes of total normality — from night-owls drinking cocktails in red-light districts to tourists enjoying relaxing foot massages in faux-leather chairs downtown.”

CNN.com reports, “Prime Minister Yingluck Shinawatra has urged stores not to stockpile goods, amid concerns that panic buying was leading to a shortage of essential items.” The government warns citizens that although they are trying to speed the process of draining flood water into canals and the sea, it may take over a month for water levels to return to normal.

This method of coping has not left everyone satisfied. Frustrated by the lack of concrete information being dispersed by the government, filmmaker Kriangkrai Vachiratamtorn created a viral animation that explains why the floodwaters are particularly high this year.

Vachiratamtorn likens the floodwaters to a pod of 50 million whales trying to make their way through Bangkok to the Gulf of Thailand. The video series has already seen over 700,000 hits and can be watched with English subtitles at: http://www.youtube.com/user/roosuflood#p/u/4/b8zAAEDGQPM

WitthayaP / Shutterstock.com

The article Floods in Thailand Enter Bangkok appeared first on The Toonari Post - News, Powered by the People!.