Business people happy with new Thai ministers

[webfact]

New Government
Business people happy with ministers
Busienss Reporters
The Nation

BANGKOK: -- ALTHOUGH the Prayuth Cabinet has been filled and controlled by soldiers, many business leaders still believe the troops can run the country successfully, as many strategic portfolios, especially economic ministries, are managed by capable and experienced experts.

The ministers in charge of the economy are suitable for their positions and I have confidence since the National Council for Peace and Order has a policy to tackle corruption in their management philosophy," Vallop Vitanakorn, vice chairman of the Federation of Thai Industries, said over the weekend.

While some ministers were officers, there were experienced and capable people who would work with them in a supporting role, he said.

The priority for the new ministers should be to stimulate the economy by concentrating on public investment, which has stalled over the past few years, along with accelerating disbursement of the 2015 government budget that kicks off next month.

"Planning for the Bt2.4 trillion investment in infrastructure projects must be tangible," he said.

The ministers should come up with measures to strengthen the county's competitiveness and policies to support small and medium-sized enterprises ahead of the opening of the Asean Economic Community next year, he said.

Kosit Panpiemras, executive chairman of Bangkok Bank, said the cabinet ministers were experts who have the ability to drive the economy forward. They were also reliable people who could build relationships with foreign entities.

However, the challenge for the ministers is to ensure that infrastructure projects, which are a huge investment for the country, would be transparent. They should make all processes for this investment, especially the payment system, clear and transparent to prevent criticism from the public.

Economic enhancement does not need to be done from the short term by promoting consumer spending. The government should consider models that match the fundamentals of the Thai economy without piling more debt on households like populist policies did before.

If the government can keep gross domestic product cruising at 4 per cent per year, this will raise per capita income to US$10,000 per year and within 10 years, the country might not need to be in such a hurry to launch measures to boost the economy, he said.

Prasert Taedullayasatit, president of the Thai Condominium Association and managing director of Pruksa Real Estate Plc, said the names of those who will head economic ministries under Prime Minister Prayuth will lift the confidence of corporations because all of them have long experience in economic and business endeavours, especially MR Pridiyathorn Devakula.

The first priority of the economic team is to increase the confidence of investors both domestic and foreign in tourism, investment and exports, then reform the country's economy for sustainable growth.

Roadmaps for tax reform

"We have strongly supported the new government by meeting with our members and also joining with the Thai Chamber of Commerce to write three economic roadmaps for tax reform, urban master plan reform and infrastructure investment. This will support the new government to drive the country's economy to sustainable growth," he said.

Piyaman Tejapaibul, president of the Tourism Council, said new Tourism and Sports Minister Kobkarn Wattanavrangkul was one of the most successful people in the country.

Besides being part of top management at Toshiba Thailand Company, she stands out in educational work and is also a key person who has been pushing the anti-corruption campaign. She had also been worked with many public and private organisations including the Thai Chamber of Commerce.

"Kobkarn's strength is coordination. She can work with many people and organisations," she said.

"The tourism industry can't go it alone amid tough competition. It needs to work with many other organisations. Although Kobkarn is keen on manufacturing without direct experience in the service industry, she could coordinate with all stakeholders on both private and government sides.

"As tourism and sports minister, she is the one who will coordinate with other bodies and will set policies into action," she said.

Kobkarn is claimed to be the first woman and true outsider taking the helm of the ministry, which has been dominated and controlled by one political party since its inception in 2003.

Representatives of the Tourism Authority of Thailand - the key marketing body for the industry - said they were surprised at the appointment of Kobkarn, as she is from manufacturing.

While she may need to be taught and trained in a service business like tourism, officials at TAT were looking optimistically at the newcomer.

The Tourism Council of Thailand urged the new minister to address the major weak points of the industry such as the quality of human resources, depth of logistics and infrastructure, and profusion of illegal hotels. The council called the government to beef up the industry to make it healthier, which could mean having quality tourists and also more expensive destinations. Thailand is now one of cheapest countries in the region.

Thailand is expected to welcome 25 million international guests this year, generating revenue of Bt1.2 trillion, while domestic travel should bring in Bt700 billion.

The council said the country could see up to 40 million visitors in 2018 or in three years if all parties can mitigate all risk factors including politics. The arrival of 40 million visitors would raise tourism's share of GDP to about 15 per cent.

Source: http://www.nationmultimedia.com/business/Business-people-happy-with-ministers-30242227.html


-- The Nation 2014-09-01

[NongKhaiKid]

New new tourism minister will have to be ' taught and trained ' by TAT ?

The mind boggles !

[MaxLee]

XXXXXCEPT foreign business men of course. (Any international business mentioned???)

[Oziex1]

New new tourism minister will have to be ' taught and trained ' by TAT ?

The mind boggles !

Easy, pick a number any number x 10,000,000 and this is the tourist increase for this year, lesson over.

[h90]

New new tourism minister will have to be ' taught and trained ' by TAT ?

The mind boggles !

"Thailand is now one of cheapest countries in the region."

Who is more expensive?

Myanmar, Cambodia, Laos, Vietnam, Indonesia? I even felt like Malaysia is cheaper.

[Don Aleman]

business people happy with, etc.," ? To me this is a warning sign of the formation of a new " Ole Boys Club " !

[Mr Yim]

Can they say anything different?

Edited September 1, 2014 by Mr Yim

[DrLom]

"If the government can keep gross domestic product cruising at 4 per cent per year, this will raise per capita income to US$10,000 per year and within 10 years, the country might not need to be in such a hurry to launch measures to boost the economy...."

Income per capita to rise to US$10,000, when it is currently at $3,400... WOW! That's a transformation and a half.

I didn't read the small print. Keep the GDP rising at 4% per year until 2717 BE... then per capita meets US$10,000 - sorry.. missed that bit.

[Chris Lawrence]

...........and they are still talking?

Someone has to have enough nouce to get the economy going?

The judicial boys must be breathing easier, as they appear to be forgotten about.

And they have to train up some ministers? How did they get out of bed on their own this morning?

The other thing to this report is that no one is speaking out against the new crew. (If they do they get to go away for two weeks?)

And the banker does want the economy boosted as it is going along fine at the moment. (even though the economy just missed out on recession?)

Instead of the road map I think they should update to a GPS.

[wilcopops]

There seems to be a memory thing going on here....what happened to economy after the last coup?. What was MR Pridiyathorn Devakula's role in that???

in 2006 - http://www.washingtonpost.com/wp-dyn/content/article/2006/12/19/AR2006121900175_pf.html

Edited September 1, 2014 by wilcopops

[elgordo38]

Well at least monk Suthep's work in the trenches was not for naught. He started the ball rolling

[millwall_fan]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

business people happy with, etc.," ? To me this is a warning sign of the formation of a new " Ole Boys Club " !

I don't think the old 'ol boys club' ever went away.

How about asking the Thai people as a whole if they like men who stole power by force with guns, acting as ministers, rather just 'businessmen'?

[fasteddie]

Well they're unlikely to say anything else, unless they fancy being guests of the great dictator.

[Thai at Heart]

There seems to be a memory thing going on here....what happened to economy after the last coup?. What was MR Pridiyathorn Devakula's role in that???

in 2006 - http://www.washingtonpost.com/wp-dyn/content/article/2006/12/19/AR2006121900175_pf.html

Indeed. Those Thais showed the market what they were about didn't they.

Don't mess with us. Oooooops

[rubl]

There seems to be a memory thing going on here....what happened to economy after the last coup?. What was MR Pridiyathorn Devakula's role in that???

in 2006 - http://www.washingtonpost.com/wp-dyn/content/article/2006/12/19/AR2006121900175_pf.html

Indeed. Those Thais showed the market what they were about didn't they.

Don't mess with us. Oooooops

Weel, I guess this time round the NCPO has deemed the rebound immediately following the coup sufficient for now.

As for MR Pridiyathorn, he's only a Dept PM in the Prayuth cabinet. Not sure why Prasert Taedullayasatit mentions him now ?

[Paulzed]

"Business people happy with ministers"

Its not like they have much of a choice or would want to risk complaining about them, now would it ??

Edited September 14, 2014 by Paulzed