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Flood-hit Japanese businesses in Thailand to stick around

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BANGKOK, 29 February 2012 (NNT) – The Japanese Chamber of Commerce (JCC) in Bangkok has estimated that the overall Thai economy will recover quickly from the flood devastation during the first half of 2012 while reporting that only 8% of Japanese businesses have been relocated elsewhere.

Chairman of the Japanese External Trade Organization in Bangkok and the Economic Survey Committee of the JCC Bangkok, Setsuo Iuchi, said the overall situation of Japanese joint ventures in Thailand in 2011 had improved albeit a decline in the latter half of the year as a result of the flooding. The committee’s survey found that 64% of Japanese companies in Thailand had a tendency to perform better this year, especially those in the textile and food industries, upon anticipation of rapid economic revival by mid-year.

It has been forecast that 46% of Japanese goods produced in Thailand will be exported back to Japan. The chairman noted that other top destinations would include Indonesia, India and Vietnam while Myanmar was expected to quickly emerge as the sixth target export market of Japan.

Read more: NNT

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