Investors' confidence in Thailand intact despite export fall: deputy PM

Thailand has secured confidence of varied investors despite a decline in the Southeast Asian country' s export industry during this year's first half, said Deputy Prime Minister M.R. Pridiyathorn Devakula on Tuesday.

Though Thailand's export industry has dropped in value by 5 to 6 percent during the first six months of this year, its tourist industry has increased by 28 percent during the same period, said the deputy prime minister.

"The tourism which accounted for about 3.5 percent of the gross domestic product has kept the country from running in the red. The tourism sector has obviously made more earnings than the export industry," M.R. Pridiyathorn commented.

He said the investors' confidence has not faded off so far this year. Some 1,200 manufacturing projects have been granted permission during the first six months of this year. That was a record number of industrial projects given permission to operate in this country, he said.

More than 300 of those projects involve the making of alternative energy and hi-technology products, the deputy prime minister said.

Meanwhile, the Thai currency which currently drops to 34.90 baht per one U.S. dollar will see the exporters sell their merchandise at reduced prices, he said.

He forecast that the Thai export industry will begin to pick up above the red line during the fourth quarter of this year. Endi