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From online Webinar on “Thailand Economic 2021 Insight and the Impact of Global Economic on Thai Economic” on March 4, 2021, which had hold by Thai Gem and Jewelry Traders Association (TGJTA) cooperated with The Gems, Jewelry and Precious metal Confederation of Thailand (GJPCT).

Ms. Pornpen Sodsrichai, Director, Macroeconomic Office presented that the Thai economy overview is likely to recover but it is not cover every sector yet because it takes time to recover. However, the recovery will be obvious in 2022, for both the export and service businesses but it depends on the opening country and tourist policy, as well as the thorough vaccination. Moreover, it is expected that Measures to open the country for welcome foreigners would be gradually stepped by step and, it might start with business group and investors to be able to control get in and out and, prevent the new infection from foreigners effectively before welcome the general tourist.

Gem and Jewelry businesses, it shown that foreign purchasing power in the gems and jewelry sector has improved as the international economy is getting better than in 2020, especially the US market. Due to the economic stimulus of Joe Biden, the new president of the United States which makes the world trade atmosphere better as well.

For adaptation to New Normal during the business recovery after the epidemic of Covid-19 crisis, entrepreneurs have to cooperate with the government and prepare the skills for labor, improve the skills of the labor group for expanding business in the future including the competitive adaptation in the Covid-19 situation which is motivated factor in many businesses adjust to a digital system (Digitalization) such as a product trading platform by adjusting work processes to be digitized (Digitalization) in the business that can support the business.

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