DPM convinces investors strong Thai baht provides investment opportunities

 

   

BANGKOK(NNT) - Deputy Prime Minister Somkid Jatusripitak has urged investors to make their investments during the present appreciation of Thai currency, boosting confidence among international investors looking to invest in the Eastern Economic Corridor.

 

Deputy Prime Minister Somkid Jatusripitak, has delivered his Thailand 2020 speech, in which he said the trade war between China and the U.S. is still generating uncertainties, plus increased risks in the global economy, and should prompt Thailand to make more effort to attract foreign investments, especially in the Eastern Economic Corridor (EEC) where the government has pursued several major projects including the Don Muang - Suvarnabhumi - U Tapao Airports Connector high speed railway; the Laem Chabang Port Phase 3 development, and Map Ta Phut Industrial Estate Phase 3 development, to promote investment.

 

He said the country must focus on technological advancement and security, through the Regional Comprehensive Economic Partnership (RECP) and in the Indo-Pacific region which covers some 30 countries.

 

The DPM admitted the economic performance in Q1-2 this year has receded from the previous year, with GDP dropping from 4.8 to 2.8 percent, which is partly a result of the delay in forming an elected government, as well as the trade war which affects Thailand’s export sector. He said the Q3-4 performance and next year, should see the Thai economy perform better than the current growth estimate of 2.9 percent thanks to the government’s economic stimulating measures, thus Thai investors should make their investments during the present period of a strong Thai Baht. He also assured the forum that the 2020 economy will recover better than current estimates.

 

The DPM also mentioned that the government gives a high priority to the introduction of a 5G mobile network, aiming to be the first country to adopt the new cellular technology in ASEAN, with the auction date set for February 2020 at the earliest, or March 2020 at the latest.

 

-- © Copyright NNT 2019-11-07

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10 minutes ago, webfact said:

The DPM admitted the economic performance in Q1-2 this year has receded from the previous year, with GDP dropping from 4.8 to 2.8 percent, which is partly a result of the delay in forming an elected government, as well as the trade war which affects Thailand’s export sector.

always somebody else's fault.... and yet they can't get their stories straight, maybe they are from different countries/governments, one sides says tourism is sluggish, less tourists then they previously estimated, exports are dropping on a daily basis, baht extremely appreciated mostly due to outside hot money and yet he said "" has urged investors to make their investments during the present appreciation of Thai currency ""

1 minute ago, Mavideol said:

always somebody else's fault.... and yet they can't get their stories straight, maybe they are from different countries/governments, one sides says tourism is sluggish, less tourists then they previously estimated, exports are dropping on a daily basis, baht extremely appreciated mostly due to outside hot money and yet he said "" has urged investors to make their investments during the present appreciation of Thai currency ""

No accounting for stupidity TIT .

Any info on the EEC and how it is going is there significant investment yet? 

Tomorrows headline '' Thailand Investment Hub''...

27 minutes ago, keith101 said:

No accounting for stupidity TIT .

"Alice in wonderland" comes to mind

41 minutes ago, findlay13 said:

"Alice in wonderland" comes to mind

Didn't that have a happy ending? No not that kind.

Here's how someone who doesn't understand anything about economics speaks, if you haven't noticed yet many companies are running away from Thailand because of the totally overestimated Baht!
How do you plan to attract new investors in a country where politics is insecure and money is managed by people who only try to do what rich friends want?
Liberalize your labor laws (for foreigners), simplify visa procedures and give companies the chance to hold a majority!

No mention of which investors the DPM convinced.

The Economics Czar has spoken and all will be well. Just put on these rose-colored glasses.

Hope as a Strategy - works every time. 

When your GDP drops by 2% points from Q3/4 2018 to Q1/2 2019, that's dramatic. Nearly 50% drop-off. And Thailand wasn't growing at an emerging market >6% pace to begin with.

Is there anyone in this government with a functioning brain? 

Missus told me that Toyota have just or are going to lay off quite a bit of their workforce. Look around shops closing everywhere, no one's got money (apart from the rich) GDP's halved and yet they're telling people everything's ok. The bubble might not burst but it's sure deflating.

2 hours ago, webfact said:

BANGKOK(NNT) - Deputy Prime Minister Somkid Jatusripitak has urged investors to make their investments during the present appreciation of Thai currency, boosting confidence among international investors looking to invest in the Eastern Economic Corridor.

That makes no sense.  Suppose he means he wants locals to invest so the government can show strong numbers.   Every time I see his poker face, I see a red flag. 

Investors with the sort of loot they're after are smarter than this guy.

1 hour ago, FarFlungFalang said:

No mention of which investors the DPM convinced.

L'il old ladies with a few thousand euros stuffed in their mattresses?

They honestly think everyone else is as stupid as themselves 

Convinces in the headline, urged in the story. Two very, very different things.

Propping up and inflating the London housing market is where the strong embezzled Baht is going????????????

Piffff, the Indian tourist trade will more that make up for the short fall. Next report will be 10 billion indians and trillions of baht spent make up the short fall in exports.. No problem.

Just tell them the returns are 10% per month that will get them in, as in another story of a 3d ponzi scheme. 

16 hours ago, FarFlungFalang said:

No mention of which investors the DPM convinced.

It begins with "C" and ends with "A"

On 11/7/2019 at 1:22 PM, Oziex1 said:

Any info on the EEC and how it is going is there significant investment yet? 

I believe Japan has been making significant investments in the EEC since about 2016 and accounts for probably 90% of all investments apart from the Thai government's investment in EEC infrastructure.