The developing economies of East Asia will grow less rapidly this year than previously expected, says the World Bank. But domestic demand and economic stimulus measures will allow growth to accelerate again next year. The euro zone crisis and a looming “fiscal cliff” in the United States continue to pose “considerable risks” to the global outlook, but in East Asia and the Pacific — a region that includes countries such as China, Thailand, and Indonesia but not Japan and India — robust domestic demand is helping growth remain well above that in other parts of the world.
The healthy growth of Asian economies including Thailand’s has attracted the interest of international investors.
The Royal Bank of Scotland (RBS) is moving forward in playing a greater business role in Thailand by adding infrastructural investment to its core business of transaction services and targeting sustainable growth in accordance with the country’s strong economic momentum. Manfred Schmoelz, the interim country executive for RBS Thailand, said the bank will focus mainly on profitable business areas after the global business restructuring of the group and play a more prominent role in higher-growth-potential markets.
We’ll experience another surge of investments in the Asia region in the next 1 to 3 years. This could have quite an effect on pinpointing those profitable business areas that Manfred mentioned. Those infrastructural investments will further push the adoption of GIS to gain advantages over the competition. We’ve already seen a huge impact it’s had on Thailand with banks quickly recovering from the recent floods and moving forward with improvements to their risk assessment processes.