Abhisit on Thai Economy

05:57 AM Jun 23, 2009

by CHANNEL NEWSASIA

Thailand's recession-hit economy should move back into positive territory by year-end and, depending on the global economy, hit 2-per-cent growth by next year, said Thai Prime Minister Abhisit Vejjajiva at a Thomson Reuters dialogue session with business leaders and media during his one-day visit to Singapore.

Protests in recent months have taken its toll on the country's key tourism sector and have kept foreign investors away, but Mr Abhisit was positive about Thailand's core economic strengths.

"We're determined to keep our base production hub for auto industries, part of the electronics industries and hope to increase the services portion in the economy, as a whole. Potential and strengths are there. The politics has to be reformed to support that," he said. A second major stimulus package, now before the Senate for approval, would allow the government to borrow almost US$12 billion ($17.5 billion) and create up to 2 million jobs.

The funds will be used for irrigation and infrastructure projects, but should not put a strain on domestic liquidity, Mr Abhisit assured. "We won't draw liquidity away from the private sector … We're determined to crowd in investments, not crowd out."

He added that the Thai government will not restrict foreign businesses and was working to liberalise the financial sector as well as stimulate the development of capital markets.

Edited June 23, 200917 yr by rinpoche

Thaksin WHO?

I guess I fail to understand what your point is here? Why the need to editorialize with a misleading title for a news article?

Something got lost between the hello & goodbye?

BR>Jack

I guess I fail to understand what your point is here? Why the need to editorialize with a misleading title for a news article?

I'm sorry, but I thought members here are quite well informed about the reasons behind the anti-Singapore protests that went on in the kingdom prior to the military coup that ousted Thaksin.

Along with Surayut and Sonthi, Abhisit was one of the strongest opponents of selling Thai assets to foreigners. They even said that it was an illegal transaction, a breach of military security while we in Singapore were scratching our heads, wondering how we could have insulted the Thai people's national pride or threatened their national security.

Now, Abhisit himself wants to liberalise. Does that mean Temasek can keep Shincorp and all charges will be dropped? Didn't Thaksin want to liberalise in the first place? Why did these people complain so loudly when Thaksin was trying to liberalise? Why do they say they want to liberalise now? Aren't they destroying Thaksin and his legacy while ironically copying what he was trying to do?

Can't help you if you're still clueless.

Edited June 23, 200917 yr by rinpoche

He added that the Thai government will not restrict foreign businesses and was working to liberalise the financial sector as well as stimulate the development of capital markets.

Does he actually think anyone could trust his bullshit ?

Why do they say they want to liberalise now?

Cause they are so stupid to think there's still someone so foolish to trust them.

we in Singapore were scratching our heads, wondering how we could have insulted the Thai people's national pride or threatened their national security.

Imagine if Singapore was to sell Singtel to Indonesia, for example.

Now, Abhisit himself wants to liberalise. Does that mean Temasek can keep Shincorp and all charges will be dropped? Didn't Thaksin want to liberalise in the first place?

In the first place he decreased foreigner share in telecoms to 25%, which pissed off his competitiors, Orange and Dtac. The ceiling was raised back to 50% only two days before Shin sale was announced to the public.

He also implemented "financial master plan" that restricted foreign banks to one branch only.

Edited June 23, 200917 yr by Plus

Abhisit on Thai Economy

05:57 AM Jun 23, 2009

by CHANNEL NEWSASIA

Thailand's recession-hit economy should move back into positive territory by year-end and, depending on the global economy, hit 2-per-cent growth by next year, said Thai Prime Minister Abhisit Vejjajiva at a Thomson Reuters dialogue session with business leaders and media during his one-day visit to Singapore. ( I'm still a while on power, so I have to talk bullshit to the dumb ones )

Protests in recent months have taken its toll on the country's key tourism sector ( But brought me to power Mr.Abhisit said ) and have kept foreign investors away, but Mr Abhisit was positive about Thailand's core economic strengths. ( Thank you Thai people, please go dumb again, let me rule you )

"We're determined to keep our base production hub for auto industries, part of the electronics industries and hope to increase the services portion in the economy, as a whole. Potential and strengths are there. The politics has to be reformed to support that," he said. A second major stimulus package, now before the Senate for approval, would allow the government to borrow almost US$12 billion ($17.5 billion) and create up to 2 million jobs. ( Let's get the lower people working again as quick as possible, before they wake up and put me out of power )

The funds will be used for irrigation and infrastructure projects, but should not put a strain on domestic liquidity, Mr Abhisit assured. "We won't draw liquidity away from the private sector … We're determined to crowd in investments, not crowd out." ( Irrigation and infrastructure is the last you would think of, what about Education and change of thai law, oops no, I don't want the Thai people to become smart! )

He added that the Thai government will not restrict foreign businesses and was working to liberalise the financial sector as well as stimulate the development of capital markets. ( My ass, change the written thai law first, if you want to stimulate foreign business)

Why do they say they want to liberalise now?

Cause they are so stupid to think there's still someone so foolish to trust them.

Thing is that half the Government says liberalise, but the other half have enacted a witch hunt and spread panic and killed off the already temainally ill housing market.

More nationalistic cant about Thai wifes being nominees etc.

The Thaksin years are about to be viewed as a purple patch in Thai history!! Will they let him back though before they run the country down past Burmese levels or will they have to be ousted after the next general election.

A general election that they will undoubtedly lose again on votes but be let in again by the army.

Thailand's recession-hit economy should move back into positive territory by year-end and, depending on the global economy, hit 2-per-cent growth by next year, said Thai Prime Minister Abhisit Vejjajiva at a Thomson Reuters dialogue session with business leaders and media during his one-day visit to Singapore.

Protests in recent months have taken its toll on the country's key tourism sector and have kept foreign investors away, but Mr Abhisit was positive about Thailand's core economic strengths.

"We're determined to keep our base production hub for auto industries, part of the electronics industries and hope to increase the services portion in the economy, as a whole. Potential and strengths are there. The politics has to be reformed to support that," he said. A second major stimulus package, now before the Senate for approval, would allow the government to borrow almost US$12 billion ($17.5 billion) and create up to 2 million jobs.

The funds will be used for irrigation and infrastructure projects, but should not put a strain on domestic liquidity, Mr Abhisit assured. "We won't draw liquidity away from the private sector … We're determined to crowd in investments, not crowd out."

He added that the Thai government will not restrict foreign businesses and was working to liberalise the financial sector as well as stimulate the development of capital markets.

Nice Christmas colors...

Can't help you if you're still clueless.

with a decidedly un-Christmas-like reply.

Edited June 23, 200917 yr by sriracha john