Phase 3 reopening generates more than 200bn baht monthly cash flow

15/06/2020

BANGKOK(NNT)-With many establishments returning to business as usual, Phase 3 of COVID-19 restriction easing has generated no less than 200 billion baht cash flow in the economy per month. To encourage businesses to adapt to the New Normal, the Thai Chamber of Commerce has launched a forum for the brainstorming of ideas on the next business trends that must comply with health regulations for safe business operations.

At the Thai Chamber of Commerce’s (TCC) seminar on the government’s Phase 3 of COVID-19 restriction easing, TCC Chairman Kalin Sarasin urged the private sector to prioritize health and safety protocols, as the resumption of business has resulted in no less than 200 billion baht monthly cash flow in the economy.

Some businesses are, however, still not allowed to operate due to higher risk of coronavirus transmission and a concern over the possibility for a second outbreak. Businesses in this category will be allowed to reopen in Phase 4 in the future.

The TCC chairman said he is confident the business sector can handle the precautionary measures, and are ready to welcome international investors and visitors, which will allow the economy to regenerate.

He said the general public are now willing to go out shopping, generating cash circulation in local economies, and helping to prevent economic performance from dropping further.

The TCC expects Thailand’s GDP this year will shrink by 3-5 percent, which is more optimistic than the IMF’s prediction at negative 6-7 percent.

A Senior Research Fellow at Thailand’s Development Research Institute (TDRI), Miss Saowaruj Rattanakhamfu, presented research on Work From Home benefits for both employers and employees, as this approach helps reduce the costs related to utilities, travel, clothing and recreation by an average of 3,000 baht each month.

Courtesy: Published at Business Thailand TV on June 13, 2020

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