BANGKOK, Feb 21 – The Thai Industrial Sentiment Index (TISI) in January declined to 97.3 from 98.8 in December last year, according to the Federation of Thai Industries (FTI).
FTI chairman Payungsak Chartsutipol said the TISI reduction was because of lower production quantity, fewer overall orders, higher production costs affected directly and indirectly by the Bt300 minimum wage, rising energy prices, and worries on the Thai baht’s appreciation as well as the world economy.
The Industrial Sentiment Index in the next three months is projected to reach 101.5, the projection rising from 100.6 in December last year. The growing figure is forecast to be from the overall order volume, overall sales volume, production quantity, and business profits.
Mr Payungsak said the main factors affecting the Thai industry last month were entrepreneurs’ concerns on the impact of oil prices on the industrial sector, followed by currency exchange rates, the world economy, internal politics, and interest rates.
The FTI chairman said entrepreneurs asked the government to provide training courses for small- and medium-sized enterprises (SMEs) in using tools to prevent risks from currency exchange rates, annul or reduce personal income tax in some cases, support entrepreneurs to group themselves to create and strengthen business networks, as well as promoting exchanges of technology and experience among entrepreneurs and academics, and between entrepreneurs to boost Thailand’s industrial development.
