The Ministry of Public Health has disclosed that there is progress on the COVID-19 vaccine in Thailand, being developed by Chulalongkorn University’s team.
It will soon enter the human trial phase. Once it finishes the third phase, Thailand can produce its own vaccine in the Kingdom.
In addition, Thailand has also contacted AstraZeneca, the vaccine company, and the Oxford vaccine development team for the production rights to manufacture their vaccine in the country, once it is available.
According to the World Bank Thailand’s report concerning the impact of COVID-19 on Thailand’s people and economy, the Thai economy is expected to decrease by at least 5 per cent in 2020.
Four issues are a weak global value chain, no international tourists, contracting sales, and declining private consumption.
The Government is taking action to respond this with six support packages, including cash transfers, infrastructure projects, liquidity support for firms, tax relief, debt restructuring for firms and households, and investment in training and the digital economy.
World Bank Thailand has also suggested that future policies should be initiated to protect the economy with resilience, especially for vulnerable people, SMEs, and tourism.