Private sector needs to lead economic recovery, says global financial institute executive

[webfact]

Photo by Lillian SUWANRUMPHA / AFP

 

Emphasising how the private sector is the one that needs to lead the country into recovery, Alfonso Garcia Mora, Vice President for Asia Pacific at the International Finance Corporation, (IFC), a sister organization of the World Bank, pointed to how Thai businesses can capitalise on electronic vehicle production, rethink their tourism strategies and embrace digitalisation going forward, in an exclusive interview with Thai PBS World last week when he visited the Bangkok office.

 

“The recovery from COVID-19 needs to come from the private sector. We need to do the necessary reforms, structural reforms that are pending in the economies, to allow the private sector to come in and to actually play a much more significant role in terms of job creation, in terms of employment, in terms of value add,” said Mr. Mora.

 

Apart from the mass vaccination drive, three key sectors play an important role in sustainable global economic recovery, the IFC executive said. These are climate change, digitalisation, and the health system.

 

Full story: https://www.thaipbsworld.com/private-sector-needs-to-lead-economic-recovery-says-global-financial-institute-executive/

 

-- © Copyright Thai PBS 2021-12-13

 

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[hotchilli]

3 hours ago, webfact said:

Emphasising how the private sector is the one that needs to lead the country into recovery, Alfonso Garcia Mora, Vice President for Asia Pacific at the International Finance Corporation, (IFC), a sister organization of the World Bank, pointed to how Thai businesses can capitalise on electronic vehicle production, rethink their tourism strategies and embrace digitalisation going forward, in an exclusive interview with Thai PBS World last week when he visited the Bangkok office.

And Prayut says the tourism industry must drive the economy?

[klauskunkel]

3 hours ago, webfact said:

the private sector is the one that needs to lead the country into recovery

I disagree:

It's the General's Sector (the Sector with all the Generals in it) that should lead the country to economic recovery. Once more unto the breach, dear Generals... open your wallets.

[Srikcir]

2 hours ago, klauskunkel said:

I disagree:

It's the General's Sector (the Sector with all the Generals in it) that should lead the country to economic recovery. Once more unto the breach, dear Generals... open your wallets.

I disagree.

The military seems especially since the May 2014 coup, to have dominated the private sector either as a facilitator in contract awards to large corporations that appear to be pro-military, as military members as corporate BoD, government officials act8bg as paid advisors to private enterprises, and as dominant over SME's who need investment capital that must go through certain large corporations designated by the military government if they want government assistance. 

Furthermore, the military itself operates in part as a private enterprise with direct ownership of natural resource, certain private enterprises and as a lessor to private enterprises on military instalations.

This article (whether or not intentional) deflects the former and current military government from continous economic failures since at least 2014.