PM Prayut encourages more domestic investment

 

 

BANGKOK (NNT) - Following a meeting of cabinet ministers, Prime Minister and Defense Minister, Gen. Prayut Chan-o-cha, spoke today of measures to stimulate the Thai economy after being hit by the adverse effects of the COVID-19 pandemic. He says the cabinet is considering adding more public holidays to further promote tourism and boost economic circulation. The government will speed up economic restructuring, lessen the country’s dependence on exports and tourism, and further promote domestic investment.

 

Gen. Prayut said he gathered ideas and suggestions from the private sector last week and has considered areas that the government can contribute to and cooperate in. The key issue is to reduce the number of layoffs. The government will allocate funds to help employees and workers employed by major entrepreneurs maintain an income.

 

The Prime Minister said the Thai economy is improving gradually due to the easing of lockdown and COVID-19 restrictions. He and the cabinet ministers will consider the possibility of adding more public holidays to promote tourism and drive the economy further. The Ministry of a Digital Economy and Society and the Ministry of Commerce will discuss ways to encourage people to use the country’s existing electronic commerce (e-commerce) platforms. Due to the COVID-19 pandemic, the government has to lessen the country’s dependence on exports and tourism, and it may have to come up with large projects to promote domestic investment.

 

"Speaking of issues being considered, concerning reports on the 2,000 to 3,000 baht cash handouts, cabinet ministers have yet to consider it. We don’t have the details yet. Today, the government focuses on financial aid, and we have to take care of small entrepreneurs, retailers and vendors. We have to find ways to help them, but there must be mechanisms to be considered. If the information is not ready, direct payments will not be ready as well. It takes time. I would like to say that today, we’re focusing on economic restructuring. We’re depending on exports and tourism. When both sectors are facing problems, our economy is hit hard and the national income decreases. It’s necessary to create a new economy, and we’re trying to make it happen. Although we already have the Eastern Economic Corridor (EEC) plan, we still have to find large projects to stimulate domestic investment in order to raise incomes. This is in line with our 20-year national strategy. Everything needs time. The EEC development started five years ago, and it has made progress. Therefore, there must be new projects and we’re looking at ways to connect the western and eastern sides. We’re checking whether or not a land bridge could be developed. We’re preparing guidelines for the study of these ideas. I think they will help the economy in the long term. Logistics linking the western and eastern regions, the Gulf of Thailand and the Andaman Sea, and all ports have to be developed. They are in line with the national strategy, and they have to make progress."

 

-- © Copyright NNT 2020-09-09

 

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8 minutes ago, snoop1130 said:

He says the cabinet is considering adding more public holidays to further promote tourism and boost economic circulation

Is there no end to this man's buffoonery!!!

 

I thought I had him worked out but apparently he is even dimmer than my previous estimation and tbh that was pretty damn low!!

 

Completely out of touch many people are struggling so what shall we do give them an holiday so they can bask in their poverty at leisure

 

All good if your sucking at the states teat I guess like him and his cronies...

More Public Holidays ?   The Civil Servants in this country already get far too many days off whilst the poor Folks struggling for a living get no holidays....and don't tell me the Civil Servants go out of their way on holidays to help out the poor traders with a few extra Baht.

 

Someone should inform these Civil Servants that there are a few days of the year called WORKING DAYS and not keeping adding more days to their paid days off !

17 minutes ago, snoop1130 said:

The government will speed up economic restructuring, lessen the country’s dependence on exports and tourism, and further promote domestic investment.

 

Ah so , the economic restructuring is designed to drag everything down to hard scrabble with a handful of 1%ers living off the little remaining cream.

 

Oh yes, anyone dumb enough to invest in Prayuth inc. can kiss their cash goodbye.

Here the encouragement: Please please buy something !

Still looking for the great white suckers to finance the army's EEC.  It is highly doubtful anybody is looking to do big things in Thailand right now. Other countries offer better for less. 

 

The article talks about locals making investments, but then it turns to that white elephant, the EEC.  There are about 30 families that have all the money in Thailand, are they investing in the EEC?  If they want local investment, they know who to call.  It is only like 30 people. 

You know what creates domestic growth? Strong, competent leadership that creates a stable economic environment, which in- urn boosts investor confidence.

 

You know what doesn't? Quasi dictators who think it is their divine right to rule over the masses, but in fact so far removed from reality and so incompetent that they have no idea what they are doing. Having 2 Finance Ministers resign in the space of a month is hardly a confidence booster either.

15 hours ago, snoop1130 said:

He says the cabinet is considering adding more public holidays to further promote tourism and boost economic circulation. The government will speed up economic restructuring, lessen the country’s dependence on exports and tourism, and further promote domestic investment.

He also promised to cure corruption... we're still waiting, the above might take a similar time frame.

15 hours ago, snoop1130 said:

Gen. Prayut said he gathered ideas and suggestions from the private sector last week and has considered areas that the government can contribute to and cooperate in.

 

How about setting up a slaughter house for incompetent, greedy, corrupt ministers?

 

There seems to be a never ending source of them here.

16 hours ago, snoop1130 said:

He says the cabinet is considering adding more public holidays to further promote tourism and boost economic circulation.

What planet these people on , to many holidays with people not working brings the economy to a standstill . If this is not the case there must be a lot of elite Thais that do not work for a living .

17 hours ago, snoop1130 said:

He and the cabinet ministers will consider the possibility of adding more public holidays to promote tourism and drive the economy further.

So,let me get this right, he wants to reduce layoffs by having more holidays ? Like paying employers to keep staff on so they can holiday more ? Cannot see how that will help employers in any way build a business or train staff

Wrong photo used PM ????

 

Use e-commerce but not to buy alcohol though. 

My opinion will be unpopular one, but I support more public holiday. Do I care about Thai economy ? nope. Do I care about Thai tourism ? nope.