26 Oct 2022 Thai Economy Public construction investment to grow in 2022-2023 bolstered by megaprojects, but close attention must be paid to several risk factors (Current Issue No.3353) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star The investment value of public construction projects is expected to see ongoing growth during the remainder of 2022 and into 2023. The improvement can be attributed to a low base in the same period of the previous year, resumed construction of ongoing projects that were suspended and delayed during the COVID-19 pandemic and newly bid projects that will start construction in 2023. Given this, KResearch projects that the overall value of public construction in 2023 may reach THB 840-850 billion, growing 2.5-3.5 percent YoY, compared to a low-base estimated growth of 1.7 percent for 2022. The 2023 investments will be driven chiefly by megaprojects, especially the Eastern Economic Corridor (EEC) program, the first phase of the Thailand-China high-speed train project, and the Mass Rapid Transit South Purple Line project. However, cost management is a challenge for the industry. As evidenced, construction material costs remain higher than pre-pandemic levels; labor costs are rising due to the minimum wage hikes over the past two years; and funding costs are increasing in response to the Monetary Policy Committee (MPC)’s tightening monetary policy. Another issue is preparation for possible flooding that may cause damage to construction sites and delay work in some areas. View full article Login / Register Or Enter the code from the poll Annotation This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow. Thai Economy Public expenditurePublic expenditurePublic sector Related Analysis View all 12 Mar 2018 Thai Economy Households are Cautious about Spending in 1Q18 According to a survey on household economic conditions for February, views of Thai households across the country toward economic conditions and the cost of living over the next three months remained unchanged. This is reflected in the 3-month Expected KR-ECI that was static at 47.1 in February. Households still had positive views toward income and employment, given the daily minimum wage rise slated for April 2018, while prices of some key agricultural produce, namely “Hom Mali” rice and cassava, have begun to increase. However, households were concerned about growing debt.... Read more 0 KB 0 KB 19 Feb 2018 Thai Economy Thai economy continues to grow in 2018 Growth of 4.0% is expected (Business Brief No.3727) The Thai economy in 4Q17 was buoyed by high growth in exports and tourism, while household consumption started to improve compared to... Read more 0 KB 0 KB 9 Feb 2018 Thai Economy Official launch of EEC: Key to Thailand’s Economic Development (Current Issue No. 2899 Full Ed.) The National Legislative Assembly (NLA) has approved the Eastern Economic Corridor (EEC) bill which is expected to boost investor confidence in large-scale, long-term investments by providing private investors additional incentives, namely non-tax privileges and a speedier process for licensing, in addition to the government's efforts to promote EEC investment through infrastructure projects and tax incentives. ... Read more 0 KB 0 KB 22 Jan 2018 Thai Economy Thai Household Debt May Fall to 77-78% of GDP in 2018 (Current Issue No. 2896) In 3Q17, Thailand's household debt fell from 78.4 percent of GDP – as recorded in 2Q17 – to 78.3 percent of GDP, which could be the res... Read more 0 KB 0 KB 18 Jan 2018 Thai Economy Economy Likely Unfazed by THB5-22 Daily Minimum Wage Hikes Nationwide (Business Brief No.3722 Full Ed.) The National Wage Committee recently agreed to raise the daily minimum wage to THB315.97, on average, or a range of THB308-330 across the... Read more 0 KB 0 KB 12 Jan 2018 Thai Economy Household sentiment toward economy continues to improve for 3 straight months, sending positive signal for private consumption in 1Q18 ... Read more 0 KB 0 KB View all