No asset bubble in Thailand, says state think-tank

[snoop1130]

No asset bubble in Thailand, says state think-tank

By THE NATION

 

Danucha Pichayanan

 

World Economic Forum (WEF), in coordination with Marsh & McLennan Companies and Zurich Insurance Group, has compiled "Regional Risks for Doing Business reports (2018-2019)", with the latest one up for discussions at the WEF annual meeting in Davos, Switzerland in January 2020, said Danucha Pichayanan, deputy secretary general of Office of the National Economic and Social Development Council (NESDS).

 

The report gathered opinions of executives in the economic sector during January to April 2019, through a survey questionnaire “From the following list, check the five global risks that you believe to be of most concern for doing business in your country within the next 10 years. 

 

“In Thailand, it was conducted by the Faculty of Commerce and Accountancy of Chulalongkorn University,” the deputy general secretary added.

 

There were over 12,000 respondents globally with 102 in Thailand. According to the report, the top five concerns of Thai businessmen were asset bubble, failure of national governance, cyberattacks, man-made environmental catastrophes, and profound social instability.

 

“At the time of the survey, Thailand was preparing for an election which could have affected their answers, in term of confidence," he said.

 

“ Declining interest rate, potential rise in property prices had possibly led to their concern about asset bubble. However, the Bank of Thailand has a strict policy to prevent that from happening”.

 

On the second point, the report defined national governance as having a good governance system, sound anti-corruption measures and institutional management. “Malaysian businessmen were most concerned with this as national governance was ranked fourth in the survey in Malaysia” Danucha added.

 

“However, it was not a major concern in Thailand as the government had been improving operational efficiency through the mechanism of the National Strategy Committee and the National Reform Committee”.

 

With regard to the threat of cyberattack, the Cybersecurity Act had been enforced to help increase the government and private sector’s confidence in digital information.

 

Meanwhile, man-made environmental problems was a major concern in Thailand in view of the health issues related to PM 2.5 - particulate matter less than 2.5 micrometres, in the air. Measures have since been implemented to deal with the problem.

 

On the issue of profound social instability, the deputy general secretary said the government cared about the importance of information. It tried to create harmony among people by reducing inequality, raising farmers’ income by guaranteeing the prices of rice, rubber and palm among others. Besides, the government's welfare card helps support low-income earners. 

 

The deputy general secretary concluded that risks listed in the survey were those international businessmen face at different levels, depending on their locations. 

 

The report would be up for discussions at the WEF meeting.

 

Source: https://www.nationthailand.com/news/30378464

 

-- © Copyright The Nation Thailand 2019-11-18

Follow Thaivisa on LINE for breaking Thailand news and visa info

[billd766]

It is true I tell you.

 

The moon IS made of green cheese and the world really IS flat.

 

If you don't believe me, ask these guys at the state think tank.

[CNXexpat]

17 minutes ago, snoop1130 said:

“At the time of the survey, Thailand was preparing for an election which could have affected their answers, in term of confidence," he said.

All text after this sentence has to be seen in this context. What means: don´t believe a single word.

[bluesofa]

27 minutes ago, snoop1130 said:

No asset bubble in Thailand, says state think-tank

Following on from the way 'top people' in Thailand deny things, then they happen: Next week's news - Asset bubble bursts in Thailand.

[HeyHeyHey]

37 minutes ago, snoop1130 said:

“At the time of the survey, Thailand was preparing for an election which could have affected their answers, in term of confidence," he said.

I mean... didn't I say that?

 

 

[HeyHeyHey]

1% of richest Thais own 66.9% of the country

 

there was an article recently that 100 people own something like 36% of the stock market (number might be wrong, I can't find the article)

 

unlimited empty land everywhere you look - Bangkok included... zoning and regulations non-existent, but the asking prices like Manhattan

 

After you pay the price you can enjoy evenings with lovely plastic burning smell like I do right now

[Destiny1990]

Can we get the no asset bubble assurance  in full writing dated and with signature ?

[Jimbo2014]

I spotted an oxymoron in the title! - No asset bubble but a global asset bubble with record low interest rates and record high debt.  Thailand is no exception and the government is pushing Thai's to spend bigger and increase debt.  30M THB 60 meter apartments in the city and no asset bubble.  

https://www.bangkokpost.com/opinion/opinion/1748139/is-it-all-the-bank-of-thailands-fault-

[CALSinCM]

No asset bubble; just a massive consumer debt bubble instead while the banks shove their heads in the sand.  What possibly could go wrong.

[RichardColeman]

14 hours ago, snoop1130 said:

No asset bubble in Thailand, says state think-tank

I believe the word is 'STALE', not state

[racket]

This actually means that we have an asset bubble.. 

[hotchilli]

15 hours ago, snoop1130 said:

No asset bubble in Thailand, says state think-tank

A bubble exists in the form that's where the think tank reside!

They actually believe their own BS

[Redline]

The land of no responsibility 

[worgeordie]

21 hours ago, snoop1130 said:

“ Declining interest rate, potential rise in property prices had possibly led to their concern about asset bubble. However, the Bank of Thailand has a strict policy to prevent that from happening”.

Like last time...

regards worgeordie