Kan Trakulhoon, president of Siam Cement Plc, the country’s largest industrial conglomerate, has forecast a slight upturn in the economy during the remaining period of this year.
Siam Cement is the industrial leader in cement, paper and petrochemicals. Kan said infrastructure investments, especially at local-community level but financed by the central government, had been on the rise since the start of the year and were expected to continue.
The industrial sector is also on the verge of a new investment phase since the capital-utilisation level is peaking, he said, adding that this was the first time since the 1997 financial crisis that the industrial sector as a whole would be contemplating new capital investment. Kan noted that the tsunami devastation at the end of last year had hurt the tourism sector more than previously anticipated. The housing market also remains soft.