Thailand: Damage from flooding to economy can reach 811 million USD
The flooding in northern Thailand has been the most severe in the past 80 years and impacted the economy by as much as 27 billion THB (about 811 million USD), the Federation of Thai Industries (FTI) has reported.
Damage from flooding to the Thai economy can reach 811 million USD (Photo: nationthailand.com)
Bangkok (VNA) - The flooding in northern Thailand has been the most severe in the pa൩st 80 years and impacted the economy by as much as 27 billion THB (about 811 million USD), the Federation of Thai Industries (FTI) 🐟has reported.
FTI chairman Kriengkrai Thiennukul said the federation has estimated that the floods have caused 25-27 billion THB in damage to the economy and entrepreneurs in the area. He also revealed that 60 FTI members in Chiang Rai have been affected by the floods, including damage to factories, machines, cars, and office equipment.
The FTI Chiang Rai office has been ordered to evaluate flood damage, so measures to compensate for the damage can be launched this week, he said.
He added that FTI members who produce consumer items have been asked to increase production capacity to meet the demand of people amid the flood crisis.
Most of the members in Chiang Rai province were in the agricultural processing industry, he added.
Kriengkrai affirmed that the federation has prepared urgent measures to rehabilitate business for its members who were directly or indirectly affected by the flooding./.
Thai Prime Minister (PM) Paetongtarn Shinawatra has ordered the establishment of a national centre to monitor the flood situation across the country, as well as two new agencies to coordinate the flood response and post-flood recovery efforts.
Thailand plans to hold discussions between its water resources management agencies and relevant agencies of Myanmar to tackle the common problem of flooding, as part of efforts to prevent a repeat of the devastating flooding that struck the two countries last week, an official has said.
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