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Thailand`s economy to grow 8% as targeted

The continued increase in investment and consumption would help drive the Thailand`s economic growth…

The continued increase in investment and consumption would help drive the Thailand`s economic growth of 8% as targeted next year, according to a veteran marketer.

Speaking at a seminar on Marketing Direction in 2004, Apirak Kosayothin, president of the Marketing Association of Thailand, said he believed the economy would expand 8% next year as projected by the government given many favorable factors.

The local and foreign investment was expected to continue to grow along with the planned establishment of free trade areas with many countries. As well, local consumption was believed to increase in the same direction.

The government`s clear policy to support strategic industries had enabled businessmen and industry operators to set their investment targets concretely, which would benefit the economic growth.

He said sunrise industries in 2004 would be tourism services and related businesses partly because of the government`s impressive success in hosting Asia-Pacific Economic Cooperation (APEC) Summit in October.

Other industries include property and related businesses, consumer products, and telecommunications.

To ensure the sustainable economic growth, he suggested, the government play a greater role in supporting the research and development, particularly for small- and medium-size enterprises.

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