Thailand achieves better competitiveness rate


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Traisuree: PM satisfied with the result

Prime Minister Prayut Chan-o-cha is pleased with the improvement in the country’s competitiveness revealed by the World Competitiveness Center, said deputy government spokesperson Traisuree Taisaranakul.

Fitch Ratings, meanwhile, maintained Thailand’s sovereign credit rating at BBB + despite the economic slump caused by the Covid-19 pandemic.

Ms Traisuree said General Prayut acknowledged the competitiveness ranking announced by the center under the Swiss-based International Institute for the Development of Management (IMD) and is pleased with the country’s position.

In the ranking of the center of 64 economies, Thailand got the 28th place, an improvement of one place from last year despite a slight drop in the overall score, which is consistent with the economic slowdown caused by the crisis. of Covid-19.

Countries are analyzed and ranked based on how they manage their skills to create long-term value, IMD said.

Ms Traisuree said that while the country’s overall performance was improving, some sectors on which economic skills were built had been hit hard over the past year.

A glaring example is the tourism sector which suffered one of its worst downturns due to the pandemic.

Ms Traisuree said General Prayut stressed that the rehabilitation of the industry must accelerate with the target now set for the country to reopen its tourism in 120 days.

The Tourism Sandbox program, which will launch in Phuket next month, is leading the way. Tourists from countries with low or medium risk of Covid-19 transmission will be allowed to enter Phuket from next month.

However, they must be fully vaccinated and spend two weeks on the island before they can travel to other parts of the kingdom, says the Center for Covid-19 Situation Administration (CCSA).

The prime minister also said that reviving the economy must go hand in hand with the enforcement of strict public health measures and the recently launched government campaign for mass vaccination of the public.

Meanwhile, Patricia Mongkhonvanit, chief executive of the Office of Public Debt Management (PDMO), revealed on Friday that Fitch had kept the country’s sovereign credit rating at BBB + with a stable outlook.

Public finances have remained strong thanks to prudent management and the latest 500 billion baht loans obtained to offset the financial impacts of Covid-19 on businesses and the public.

She said Fitch was confident the government would be successful in managing the risks associated with rising public debt.

In April, the average maturity (ATM) of public debt was rather long, at 9.5 years.

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