Thailand's four leading enterprises happy to help boost growth

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Tycoons happy to help boost growth
Petchanet Pratruangkrai
The Nation

BANGKOK: -- Thailand's four leading enterprises - Thai Beverage, Charoen Pokphand Group, Central Group, and Sahaphat, have backed the government's economic stimulus plan that aims to help grassroots people, as it would help strengthen the country's economic growth, Commerce Minister Chatchai Sarikulya said.

After meeting the heads of those four companies, who are leaders in food and beverage, consumer goods, and retail businesses, Chatchai said that private enterprises were delighted with the government's economic policies and had promised to cooperate in promoting growth.

It was the first meeting between the Commerce Ministry and leading private companies to discuss economic issues and exchange ideas on stimulating business.

Chatchai said the government explained that it would have both short-term and long-term measures - from three months to one year - to promote growth and prepare for the Asean integration.

He said the government had asked for their cooperation to support the reform plan and help strengthen economic growth.

Key issues

Five key issues were discussed. The first was promoting the agricultural sector for long-term development. The government will encourage farmers and private enterprises to focus on producing products that are chemical free, as that would help ensure stable incomes for farmers in the long run.

Second, the ministry pointed out that amid the recovering economic growth, Thailand needed to ensure that prices for goods would be maintained. The private sector could cooperate to ensure smooth economic recovery by fixing their prices if they agreed, Chatchai said.

He said private enterprises agreed with the plan to help boost the income of farmers by not intervening in the market.

Third, the government has called on private enterprises to support cross-border trading, as it is a key engine for driving the economy.

Fourth, the ministry explained that the government would also emphasise logistical development, which would help reduce logistics costs for companies.

Finally, the ministry assured that it would support the amendment and implement many business laws that would help facilitate business growth.

Chatchai said with strong support from the private sector, he was confident that the Thai economy would continue to see sustainable growth.

Thai shipments this year would not face a negative growth, as there were clearer signs of export recovery in the final quarter of the year, he said.

Charoen Sirivadhanabhakdi, owner of ThaiBev, said he was happy to talk with the government, as the link between the private sector and the government would help facilitate and promote economic growth, particularly for grassroots people.

Tos Chirathivat, chairman of the executive committee and CEO of Central Group, said closer cooperation between the government and the private sector was a good thing. He expected to see closer collaboration in the future.

Source: http://www.nationmultimedia.com/national/Tycoons-happy-to-help-boost-growth-30244673.html


-- The Nation 2014-10-03

[smutcakes]

What would help stimulate the country a whole lot more would letting some competition in to the market to ensure these monopolies have to be competitive.

[Obb]

The wolves colluding with government to fatten the lambs.

With 1.3 billion in the world today, you gotta learn to like them, that's what I say.

[canopus1969]

have backed the government's economic stimulus plan that aims to help grassroots people, as it would help strengthen the country's economic growth their own bank balances

[rickirs]

Tycoons happy to help boost growth.

Great. Hit them with a 40% tax rate so the government can invest in Thailand infrastructure.

[jaltsc]

"Thailand's four leading enterprises - Thai Beverage, Charoen Pokphand Group, Central Group, and Sahaphat, have backed the government's economic stimulus plan that aims to help grassroots people, as it would help strengthen the country's economic growth..."

It appears that all the proposals include the industrialist controlling the transactions. This a monopolist's dream. The government sanctioning more control by the rich. John d. Rockefeller couldn't have come up with a more self enriching plan.

However, Rockefeller didn't sugar coat his goals and make himself sound as though he was helping "grassroots people". He came right out and said that he worked hard to control the oil industry, defeat all competition, and deserved all the riches he reaped.

However, the American government did care about the public and competition. Although it appears that the competition is among wealthy industries, the move did help control oil prices. They forced Standard Oil to divide into over a dozen different companies, none of which Rockefeller could hold more than 30%. In the end this act created competition and kept oil prices lower. Compared to average earned income, Americans pay less for gasoline than any nation outside of the oil producing nations.

As a footnote. Rockefeller became wealthier through his holdings in all the companies created by the splitting up of Standard Oil. However, Rockefeller was unsatisfied because it wasn't so much the money that he cherished, it was the Power. I doubt that the Thai industrialists are any less driven by power than was Rockefeller. They just don't admit it and are trying to sell themselves as patriots, while giving up none of their powerful monopolies.

[fobuff]

"private enterprises were delighted with the government's economic policies"... They have no choice since under the great leader's martial law nobody can critisize the junta

[JacChang]

Never heard of sahaphat.

The other 3, am already loaded with their shares.

[tbthailand]

of course the major Thai ultra-royalist families will support the 'NCPO'

what else is new?