Question

How Thailand political effect to fashion garment industry nowadays?

Answer 1

ANSWER:

The fashion garment industry sectors make for the top revenue in Thailand, employing more than one million workers. Owing to increased international trade activities, the textile and apparel sectors have contributed significantly to the economic and social development of the country. The government of Thai was found to play a significant role, by giving support to enhance the global competitiveness of Thai fashion garment industry. Thailand is ramping up its competitiveness by focusing on value-added products, innovation, and technologies. Moreover the government also provides additional incentives along with development of infrastructure to further support growth in the country’s garment industry. But due to political instability the industry lowered its growth projections for the year and is lobbying the government to reduce tariffs on fashion garment imports to aid in supply chain reorganization. Prolonged and escalating protests have also under-mine the confidence of investor in fashion garment industry, affecting both local as well as foreign investments, and exacerbate delayed public infrastructure investment. It may result in reduction in foreign capital inflows, deterring foreign direct investments and, accordingly, future growth prospects of the country's economy.