webfact Posted April 22, 2020 Share Posted April 22, 2020 Thailand will work on strengthening local economy first: Somkid By THE NATION Deputy Prime Minister Somkid Jatusripitak has called on the Finance Ministry, the Bank for Agriculture and Cooperatives as well as the private sector to work with local communities to develop large projects and come up with necessary measures to strengthen the local economy. These projects will be launched in June as part of the government’s plan to restore the Covid-19 battered economy and will be funded partly by the Bt1 trillion loan the Finance Ministry will be taking. Somkid added that Thailand has to focus on strengthening the local economy first as it will take a while before the global economy recovers. Since Thailand’s export and tourism sectors are not likely to get better soon, the government will also promote local investment and domestic consumption to boost the economy. He said that though Thailand has effectively curbed the outbreak, the government has to carefully consider all scenarios before deciding to relax some restrictions. Source: https://www.nationthailand.com/business/30386565 -- © Copyright The Nation Thailand 2020-04-23 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
Popular Post Justgrazing Posted April 22, 2020 Popular Post Share Posted April 22, 2020 21 minutes ago, webfact said: Since Thailand’s export and tourism sectors are not likely to get better soon TAT's profound optimism and creative projectionism will sort that out Somkid .. Don't you worry about that pal .. 3 3 Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted April 22, 2020 Popular Post Share Posted April 22, 2020 39 minutes ago, webfact said: Since Thailand’s export and tourism sectors are not likely to get better soon, the government will also promote local investment and domestic consumption to boost the economy. What a daft plan, asking all the skint Thais that have been forced out of working for months to boost the economy with money they dont have anymore 10 Link to comment Share on other sites More sharing options...
Popular Post baansgr Posted April 22, 2020 Popular Post Share Posted April 22, 2020 11 minutes ago, RichardColeman said: What a daft plan, asking all the skint Thais that have been forced out of working for months to boost the economy with money they dont have anymore I think the idea of promoting and investing in the local economy means getting these people back to work...and not in the tourism industry. Locally produced and manufactured goods that are required by everyone. 5 Link to comment Share on other sites More sharing options...
Popular Post Grumpy John Posted April 22, 2020 Popular Post Share Posted April 22, 2020 Don't see this being a big suck Ces! In a village where I live it's rice, corn and mangoes and everything is grown on a time line that is locked into the seasonal weather. In towns and cities there maybe some opportunities to get new projects going but I suspect if it's not already being done their isn't sufficient interest to do something new....unless the government subsidies the krap out of it. 3 Link to comment Share on other sites More sharing options...
kingstonkid Posted April 22, 2020 Share Posted April 22, 2020 1 hour ago, RichardColeman said: What a daft plan, asking all the skint Thais that have been forced out of working for months to boost the economy with money they dont have anymore Ah but they will tell people that if they spend money now that they will get a tax break so everyone will buy with CC or loans 1 Link to comment Share on other sites More sharing options...
Popular Post Thailand Posted April 22, 2020 Popular Post Share Posted April 22, 2020 Back to work would be the optimum approach to get money in to the hands of the locals to start spending and getting the local economy rolling again. Problem is of course many of them do not have jobs to go back to, the tourism industry in tatters for a long time to come as are other industries. Massive job creation programs of some sort but the government will need to spend big, not rely on the 20 richest. 4 Link to comment Share on other sites More sharing options...
Popular Post FarFlungFalang Posted April 23, 2020 Popular Post Share Posted April 23, 2020 So he wants to strengthen the economy without letting people go to work?Excellent.Buffoon is the word I'm thinking of. 9 Link to comment Share on other sites More sharing options...
Popular Post colinneil Posted April 23, 2020 Popular Post Share Posted April 23, 2020 Is Somkid living in the real world? He has been quiet recently, so he is thinking, i better say something, let people know i am still here.???? 4 1 Link to comment Share on other sites More sharing options...
ChrisY1 Posted April 23, 2020 Share Posted April 23, 2020 The economic zsar has spoken....since he's been sidelined in favour of the elite mega rich, I guess he has to seen to make a contribution....of course, it doesn't change anything and he's still a dill ! 2 Link to comment Share on other sites More sharing options...
Brickbat Posted April 23, 2020 Share Posted April 23, 2020 Keep the baht strong and get the masses to borrow more. in the long run, if the world reduces its dependency on China , Thailand’s elite could gain even more. There are quite a few odd million here who work for peanuts. 1 Link to comment Share on other sites More sharing options...
Popular Post Brickbat Posted April 23, 2020 Popular Post Share Posted April 23, 2020 51 minutes ago, ChrisY1 said: The economic zsar has spoken....since he's been sidelined in favour of the elite mega rich, I guess he has to seen to make a contribution....of course, it doesn't change anything and he's still a dill ! Nobody in this Govt is a dill. They are a well oiled machine who answer to the top brass who only get richer, even in crisis. The dills are us who have taken a hit in our standard of living ( strong baht) in the last 5 years and the masses who have no clue about simple economics . 3 Link to comment Share on other sites More sharing options...
unamazedloso Posted April 23, 2020 Share Posted April 23, 2020 som kid would probably do a beta job!???? 1 Link to comment Share on other sites More sharing options...
Popular Post yellowboat Posted April 23, 2020 Popular Post Share Posted April 23, 2020 5 hours ago, webfact said: the government will also promote local investment and domestic consumption to boost the economy. Yeah, it took one of the worst events in history for the Thai government to look to its poor people to save the economy. Just think if they had given more and taken less six years ago: not chasing away tourists, not giving more breaks to the rich who cannot export, opening the country to business. 2 1 Link to comment Share on other sites More sharing options...
Isaan sailor Posted April 23, 2020 Share Posted April 23, 2020 Now that China's devaluation has sunk the western currencies to six-week lows--they can concentrate on in-country tourism. Why not? No western tourists will see Thailand as a good deal. 2 Link to comment Share on other sites More sharing options...
JoeMc Posted April 23, 2020 Share Posted April 23, 2020 Open up the open air markets immediately and let the locals make some sort of living ..masks compulsory Link to comment Share on other sites More sharing options...
Almer Posted April 23, 2020 Share Posted April 23, 2020 5 hours ago, RichardColeman said: What a daft plan, asking all the skint Thais that have been forced out of working for months to boost the economy with money they dont have anymore They can take a loan 1 1 1 Link to comment Share on other sites More sharing options...
Caldera Posted April 23, 2020 Share Posted April 23, 2020 "Promoting domestic consumption" will be tough, many jobs have been wiped out and others cut back (no extra overtime income etc.). The high level of consumer debt - maxed out credit cards in particular - would make that challenging even without the coronavirus crisis. Link to comment Share on other sites More sharing options...
Popular Post billd766 Posted April 23, 2020 Popular Post Share Posted April 23, 2020 2 hours ago, Almer said: They can take a loan Who would give a loan to a person who has no money, no job and little chance of repaying the loan? 3 Link to comment Share on other sites More sharing options...
Susco Posted April 23, 2020 Share Posted April 23, 2020 9 minutes ago, billd766 said: Who would give a loan to a person who has no money, no job and little chance of repaying the loan? They just did that in the US 1 Link to comment Share on other sites More sharing options...
billd766 Posted April 23, 2020 Share Posted April 23, 2020 26 minutes ago, Susco said: They just did that in the US Is the US a part of Thailand, as the thread is about strengthening the local economy in Thailand. 1 Link to comment Share on other sites More sharing options...
Susco Posted April 23, 2020 Share Posted April 23, 2020 (edited) 13 minutes ago, billd766 said: Is the US a part of Thailand, as the thread is about strengthening the local economy in Thailand. I must have missed where you said who in THAILAND would give a loan to a person who has no money, no job and little chance of repaying the loan? Silly me Edited April 23, 2020 by Susco Link to comment Share on other sites More sharing options...
sammieuk1 Posted April 23, 2020 Share Posted April 23, 2020 59 minutes ago, billd766 said: Who would give a loan to a person who has no money, no job and little chance of repaying the loan? Anyone of the 12,000 or so generals that racketeer the country is my guess???? Link to comment Share on other sites More sharing options...
Almer Posted April 23, 2020 Share Posted April 23, 2020 2 hours ago, billd766 said: Who would give a loan to a person who has no money, no job and little chance of repaying the loan? Any body with house papers they do it all the time. 1 Link to comment Share on other sites More sharing options...
billd766 Posted April 23, 2020 Share Posted April 23, 2020 4 hours ago, Susco said: I must have missed where you said who in THAILAND would give a loan to a person who has no money, no job and little chance of repaying the loan? Silly me Yes, silly you. Go to the top of the page and carefully read the thread title once again, bearing in mind that the thread is posted in Thailand News Thailand will work on strengthening local economy first: Somkid By webfact, 14 hours ago in Thailand News Did you see any mention of the USA in the thread title? 1 Link to comment Share on other sites More sharing options...
billd766 Posted April 23, 2020 Share Posted April 23, 2020 2 hours ago, Almer said: Any body with house papers they do it all the time. They might have done before, but I think that they are a bit wiser now with upwards of 15 million people out of work. Link to comment Share on other sites More sharing options...
Almer Posted April 23, 2020 Share Posted April 23, 2020 2 minutes ago, billd766 said: They might have done before, but I think that they are a bit wiser now with upwards of 15 million people out of work. Its the horse and the gate i think, all in all a terrible situation which i liken to playing russian roulette, which stands a good chance if ending badly 1 Link to comment Share on other sites More sharing options...
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