Commerce Chamber believes economy will grow once vaccinations are widespread


BANGKOK (NNT)Economic analysts have expressed a belief that if the government is able to hit its target of vaccinating 70 percent of the population, the economy could still grow 3-4 percent this year, urging the private sector to help fund the undertaking.

President of the Thai Chamber of Commerce Sanun Angubonkul, underlined that the Thai economy is dependent on tourism and it is thus imperative that the country reopens soon.

Acknowledging that the government is in the process of acquiring 100 million doses of COVID-19 vaccine to inoculate 50 million people, or 70 percent of the population, Sanun said that the faster the process is carried out the quicker the economy can return to growth.

The president made known that the private sector is ready to fund the acquisition of vaccines to be administered to employees and would support quicker dispersion of the jabs along with promoting an understanding among the public. Other areas in which the private sector is ready to provide support include locations, personnel and technology.

The chamber believes that if the 70 percent target is reached this year, the economy could see 3 percent growth in the third quarter and 4 percent growth in the fourth quarter when the tourism season starts.