Thailand approves job measures, PM calls for economic revamp

[webfact]

Thailand approves job measures, PM calls for economic revamp

 

FILE PHOTO: Thailand's Prime Minister Prayuth Chan-ocha attends a family photo session with new cabinet ministers at the Government House in Bangkok, Thailand August 13, 2020. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand approved plans to create a quarter of a million jobs and will look to restructure its economy to be less reliant on global demand, its prime minister said on Tuesday, the latest measures to mitigate the fallout of the coronavirus pandemic.

 

Southeast Asia's second-largest economy suffered its biggest contraction since the Asian crisis in the second quarter as the global impact of coronavirus, which has infected only a few thousand people in Thailand, battered tourism and slowed consumption.

 

The government agreed to the private sector hire 260,000 new graduates for a year, Prayuth Chan-ocha told a briefing after a cabinet meeting.

"This does not include other employment plans of about a million jobs. There will be a job expo," he said, without elaborating.

 

Last week, the government announced stimulus plans worth a combined 68.5 billion baht ($2.18 billion) - 45 billion baht for handouts and 23.5 billion baht for adding jobs.

 

Cash handouts had not yet been discussed as more details were needed, Prayuth said.

 

Thailand needed to diversify its economy, which is heavily reliant on external markets, through large investment projects to increase income and support long-term growth, he said.

 

"As we depend on exports and tourism, when there are problems with them, our economy will slump," Prayuth said. "We need to build a new economy".

 

Thailand is this year expected to record less than a fifth of the nearly 40 million foreign tourists it received in 2019, due largely to a ban on visitors in place since April to keep the coronavirus at bay.

 

The government also plans to study a land bridge project to link the Gulf of Thailand to the Andaman Sea, Prayuth said.

 

(Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Martin Petty)

 

-- © Copyright Reuters 2020-09-09

 

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[RichardColeman]

57 minutes ago, webfact said:

"As we depend on exports and tourism, when there are problems with them, our economy will slump," Prayuth said. "We need to build a new economy".

So his plan is to build an economy based on domestic production and consumption ? Guys a total nut case 

[sammieuk1]

260,000 Maj-Gens at the double ????

[brain150]

2 hours ago, RichardColeman said:

So his plan is to build an economy based on domestic production and consumption ? Guys a total nut case 

What is "nuts" about it ? It's the only way anybody should have ever done it !!!

[american2]

I hope the job fairs, training, and Government sponsered jobs are not just concentrated in Bangkok.

Great news for Thailand that the Kra Canal (another China debt trap) has been canceled.  Maybe a land (road and rail) bridge, Adaman to Gulf,  will prove feasable.  Just don't borrow from China for any projects.

[bluesofa]

4 hours ago, webfact said:

The government also plans to study a land bridge project to link the Gulf of Thailand to the Andaman Sea, Prayuth said.

Didn't some official dismiss that one out of hand yesterday?

Perhaps this is the rule: Even-numbered days = on. Odd-numbered days = off.

[PatOngo]

4 hours ago, webfact said:

PM calls for economic revamp

Now, to find a capable, competent finance minister!

[PatOngo]

4 hours ago, webfact said:

Thailand approves job measures, PM calls for economic revamp

Somtamenomics!

[trainman34014]

He's not the man to lead the country to any future prosperity; he's already proved that with his dismal handling of the economy since 2014 !

[yellowboat]

6 hours ago, webfact said:

and will look to restructure its economy to be less reliant on global demand,

And what has he done since usurping power back in 2014?  0

[NoshowJones]

6 hours ago, sammieuk1 said:

260,000 Maj-Gens at the double ????

You forgot about Lt/Gens. ????

[NoshowJones]

3 hours ago, PatOngo said:

Now, to find a capable, competent finance minister!

In Thailand?? You only have to see how incompetent the present unelected "PM" is.

[PatOngo]

27 minutes ago, possum1931 said:

You forgot about Lt/Gens. ????

...........and Rear Admirals! 

[PatOngo]

2 hours ago, trainman34014 said:

He's not the man to lead the country to any future prosperity; he's already proved that with his dismal handling of the economy since 2014 !

_{......but I'm sure his wealth has increased 10 fold or more!}

[steven100]

8 minutes ago, PatOngo said:

...........and Rear Admirals! 

you seem to be posting alot today .... are you bored in Aussie

[steven100]

8 hours ago, webfact said:

Thailand approved plans to create a quarter of a million jobs and will look to restructure its economy to be less reliant on global demand, its prime minister said on Tuesday, the latest measures to mitigate the fallout of the coronavirus pandemic.

good work from Khun Prayut Chan O Cha and his government. Focus on jobs and getting the economy back running again. He is absolutely correct in saying that Thailand needs to invent other areas of income and be less reliant on global tourism. Thailand needs to look at domestic tourism more and less on international travelers. 

[PatOngo]

1 minute ago, steven100 said:

you seem to be posting alot today .... are you bored in Aussie

No, Aussie is great! Free chemo. Would be nice if I could get back to see my family though. Unfortunately, the gate is shut! How's your family holding up?

 

[Grumpy John]

11 minutes ago, PatOngo said:

...........and Rear Admirals! 

There's something gay about calling sailors with high rank Rear Admirals!    Why were they never called Lieutenant Admiral or just One Star Admiral.  

[steven100]

3 minutes ago, PatOngo said:

No, Aussie is great! Free chemo. Would be nice if I could get back to see my family though. Unfortunately, the gate is shut! How's your family holding up?

 

no family ... got out of that recently thank goodness, cheats and lairs. 

Anyway, getting tired of covid, just wish it would all end soon. 

[spidermike007]

Prayuth is one of the least serious, and least competent men in Thailand. If he were serious, he would have competent and outstanding tourism and finance ministers. Capable of creative thought. Fearless. Visionary. Instead? Pipat? Who are we kidding? 

 

Thailand needs good leadership, something they have been lacking for a long time now. 

[Grumpy John]

I got distracted by the Rear Admiral thing.  To many distractions! That may explain why my "jobs to do" book is always full and half the jobs are a work in progress!  What my initial thought was "like a fish out of water" Flip flopping around and not at all happy. Used to being feed twice a day and not used to finding food for the school he leads.  

[Scot123]

9 hours ago, RichardColeman said:

So his plan is to build an economy based on domestic production and consumption ? Guys a total nut case 

A bit like North Korea and Cuba...... Mmmmmm I feel so sad for the Thai people. 

[Redline]

Interesting that the education system has been getting worse, and that is the only way to change the economy, along with hiring foreigners, and updating the business rules.

Passiveness and laziness will have to be ordered to be stopped ????

[tracker1]

2 hours ago, Grumpy John said:

There's something gay about calling sailors with high rank Rear Admirals!    Why were they never called Lieutenant Admiral or just One Star Admiral.  

Has something to do with semen dam spell check !

[NeoDinosaw]

9 hours ago, american2 said:

I hope the job fairs, training, and Government sponsered jobs are not just concentrated in Bangkok.

Great news for Thailand that the Kra Canal (another China debt trap) has been canceled.  Maybe a land (road and rail) bridge, Adaman to Gulf,  will prove feasable.  Just don't borrow from China for any projects.

The Kra Canal was a very sensible idea, it is a pity it has been cancelled.  Obviously sending everything by road will be a lot safer  !   Yes, I am a cynic

[NeoDinosaw]

14 hours ago, webfact said:

The government agreed to the private sector hire 260,000 new graduates for a year, Prayuth Chan-ocha told a briefing after a cabinet meeting.

This is for the un-employable children of the rich.   Another fantastic investment for the Thai nation ????

[chrisandsu]

Get an aggressive welfare system like the west . It’s a model that’s bankrupted nearly every western country but it is an internal growth sector that’s yet to be abused in Thailand . 

[billd766]

14 hours ago, brain150 said:

What is "nuts" about it ? It's the only way anybody should have ever done it !!!

What about jobs for the other 8 to 20 million unemployed Thais?

[billd766]

10 hours ago, spidermike007 said:

Prayuth is one of the least serious, and least competent men in Thailand. If he were serious, he would have competent and outstanding tourism and finance ministers. Capable of creative thought. Fearless. Visionary. Instead? Pipat? Who are we kidding? 

 

Thailand needs good leadership, something they have been lacking for a long time now. 

They could always give Thaksin a full and complete amnesty and he might take the job.

 

He was a much better PM than Thailand has had for many a year and his popularity rating is far higher that Prayuth's will ever be.

 

Mind you I don't think that Steven 100 would be happy about that scenario.

[MRToMRT]

21 hours ago, webfact said:

Southeast Asia's second-largest economy suffered its biggest contraction since the Asian crisis in the second quarter as the global impact of coronavirus, which has infected only a few thousand people in Thailand, battered tourism and slowed consumption.

 

........................

 

Thailand needed to diversify its economy, which is heavily reliant on external markets, through large investment projects to increase income and support long-term growth, he said.

Errrrrr, so he going to restructure demand to make it local? What riddle is this? Oh yeeahh!! Its the nationalistic clap trat model for xenophobes.