Thai Cabinet To Consider Measures To Help Businesses Affected By Baht Rise: PM Abhisit

[webfact]

PM: Cabinet to consider measures to help businesses affected by baht rise

BANGKOK, Oct 8 – Thailand's Cabinet will consider measures on Tuesday to help cushion business operators hardest hit by by the baht appreciation, Prime Minister Abhisit Vejjajiva said on Friday.

Finance Minister Korn Chatikavanij will also propose to the Cabinet measures to help operators, particularly the small and medium enterprises (SMEs) and those who have no hedge against currency risks, Mr Abhisit said.

The government has closely monitored the strengthening of the baht. The influx of foreign capital following the baht appreciation is the duty of the Bank of Thailand to oversee it, he said.

The baht has already strengthened by 10 per cent since early this year as a result of the continued inflow of foreign capital.

The baht appreciation, which rose this week to the strongest level in 13 years since July 1997, has raised concern that it may negatively affect exports, which account for around 60 per cent of Thailand's gross domestic product (GDP).

The Thai baht traded on Friday at 30.06-30.09 baht against the US dollar. (MCOT online news)

-- TNA 2010-10-08

[Pib]

Yea, the govt has closely monitored the appreciation of the baht but they are not taking any real action to slow down/halt the appreciation.

Maybe the govt should look up the words "monitor" and "action" in the dictionary to see what they mean, as I think they have the definitions of the two words reversed. Or, maybe the word action does not exist in the Thai language. Watching/monitoring is so much easier than action.

[furyrider]

Yea, the govt has closely monitored the appreciation of the baht but they are not taking any real action to slow down/halt the appreciation.

Maybe the govt should look up the words "monitor" and "action" in the dictionary to see what they mean, as I think they have the definitions of the two words reversed. Or, maybe the word action does not exist in the Thai language. Watching/monitoring is so much easier than action.

Your just not reading it correctly

They are taking action to watch the appreciation of the baht.

[SergeiY]

Yea, the govt has closely monitored the appreciation of the baht but they are not taking any real action to slow down/halt the appreciation.

Maybe the govt should look up the words "monitor" and "action" in the dictionary to see what they mean, as I think they have the definitions of the two words reversed. Or, maybe the word action does not exist in the Thai language. Watching/monitoring is so much easier than action.

Your just not reading it correctly

They are taking action to watch the appreciation of the baht.

lol

But hey, they are already one step more ahead.

Watched that it "has raised concern that it may negatively affect exports" and now answering with counter measures. That means that the PM will consider on Tuesday and the FM will propose to the Cabinet.

Looks good, sounds good. Why asking for more? It's the thought that counts.

[givenall]

Why don’t they stop the RED shirt nonsense demonstration. this alone will help most of the businesses who depend on tourists

[SergeiY]

Why don’t they stop the RED shirt nonsense demonstration. this alone will help most of the businesses who depend on tourists

Your comment is a little bit off topic, but do you mean (or think) that instead of being so 'liberal' and allow demonstrations nobody really cares about they should be a more hard core so that they could winning back all the tourists who getting the kick out of a 'Holiday in Cambodia Burma'?

ps. One more question. On what day of the week the PM should consider your idea? Which day will be most helpful. Monday? Wednesday? Friday night?

[rubl]

Why don’t they stop the RED shirt nonsense demonstration. this alone will help most of the businesses who depend on tourists

Your comment is a little bit off topic, but do you mean (or think) that instead of being so 'liberal' and allow demonstrations nobody really cares about they should be a more hard core so that they could winning back all the tourists who getting the kick out of a 'Holiday in Cambodia Burma'?

ps. One more question. On what day of the week the PM should consider your idea? Which day will be most helpful. Monday? Wednesday? Friday night?

Wake me up when you start to have meaningful posts, dear chap

[mccw]

Help the business stay affloat for a couple of years; in those years pay for all the infastructure projects and then attempt to devalue the bht a bit.

By the way countries which try to manipulate currency downwards also tend to correspondingly increase inflation; so no perfect solution.

[asiawatcher]

Why don't they stop the RED shirt nonsense demonstration. this alone will help most of the businesses who depend on tourists

Because if the red shirt nonsense is allowed to continue it solves the Govt's problem!! No tourism, Baht weakens, and they can watch and claim the BoT has solved the problem. It's called dancing...

[goldmonky]

all they got to do is de-value . that will attract more international interest in thailand maybe help the tourist industry too