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of goods throughout every region of the country, regional connections to neighboring countries
and improvements for entrepreneurs in the agricultural sector, the commercial sector and the
service sector for concurrence with transactions in the digital age will help promote growth in
every sector.

• Industrial Production
Industrial production has better directions from government policies to support investments
in industries, goals with capacity for a New Growth Engine and growth in exports to trading partners
with growing economies including higher domestic demand from domestic economic growth.
• Tourism
The push for Thailand to become a hub for tourism and consistent tourism promotion

policies helped to increase the number of tourists entering Thailand, especially high-spending
quality tourists who also drive growth in related industries.
• Special Economic Zones
The policy to establish special economic zones or special investment zones in order
to designate areas with advantage from investment and clear development goals helps to build

confdence in investors from business sectors and industrial sectors, resulting in investments in
infrastructure, industries, and construction of residences to support growth in the aforementioned areas.

Negative Factors
• Global Economy
Some major trading partner companies have unclear and vague economic policy
directions. Furthermore, problems arising from elections in the European Union such as the

Netherlands, France and Germany in addition to sluggish economies in some countries may
prevent the global economy from recovering as expected.
• Private Sector Investments
Unclear global economic conditions have caused the private sector operating
businesses overseas to delay investments to reduce risks from the aforementioned fuctuations.

The private sector operating in domestic businesses are expected to have more spending and
investment from clear economic policies of the government. However, this would remain low
from household debt and domestic purchasing power which has not achieved goals.
• Household Sector
Household debt is high from residential loans, other consumption loans and automobile
loans. Residential loans and automobile loans are long-term debts requiring many years to

pay off. Thus, household net income for spending is at infexible levels with effects causing
stagnation in the business sector and consumer goods production.
• Domestic Economy
Government policies to stimulate household economies did not go according to plans.
This caused confdence in the household and private sectors to be lower with potential effects

on the overall national economy.

20 SMART PEA
Annual Report 2016 Provincial Electricity Authority