PM Prayut promises a good year for business

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PM promises a good year for business
Erich Parpart,
Petchanet Pratruangkrai,
Suchat Sritama
The Nation

Meets private sector, which urged govt to lift purchasing power and help small firms

BANGKOK: -- Prime Minister Prayut Chan-o-cha yesterday vowed that his government would do its best to ensure a strong economic performance this year, and told the business sector not to worry about the political situation.

During a four-hour meeting with business representatives, the PM asked the private sector to help restore confidence, deputy government spokesman Maj Gen Sansern Kaewkamnerd said.

"Political issues are also important but they should not worry much. Members of the private sector should not think only about impeachment cases and other political problems," Prayut said.

The premier invited representatives of commerce, banking, tourism, small business and energy for a meeting to update him on their concerns and needs. At the meeting, many suggestions were made on how to stimulate the economy and sustain growth in the long term.

The business sector is still unsure about the economic outlook this year due to many uncertainties and challenges, notably the global slowdown. Business leaders urged the government yesterday to be strong in implementing policies that will stimulate the economy and private consumption.

FTI chairman Supant Mongkolsuthree said after they were was "very satisfied" with their discussion with Prayut. Supant said he had proposed several measures - for the government to increase support for small and medium enterprises (SMEs) by accelerating small state projects; providing support for e-commerce; and financing by increasing loan guarantees from the Thai Credit Guarantee Corp for small businesses from the current 18 per cent to 40 per cent while educating SMEs about the right way to pay taxes and encouraging unregistered small firms to register and thus increase support coverage.

"The prime minister told around 25 representatives from the private sector to be patient with the way the economy is going right now and asked the private sector to understand, as the country's economic situation has declined in line with the world economy. And we are happy that the prime minister paid close attention to our all of our proposals," he said.

Thai Bankers' Association (TBA) chairman Boontak Wangcharoeng said he recommended the PM should push for the Business Guarantee Act that the TBA has waited 17 years for, and other electronic laws, since it could boost the effectiveness of the banking sector, allow greater financial access for small firms, while helping to drive the economy. And he believed that the law - Business Guarantee Act - could be introduced by this government.

"The prime minister has shown that he is committed to driving the country to be competitive and that is a good sign," he said.

Isara Vongkusolkit, chairman of the Board of Trade and Chamber of Commerce, said private enterprises do not envisage large growth this year because of uncertainty about a global recovery and the threat of the US raising its policy interest rate.

He said the private sector would like the government to speed up budget disbursement and budgets "in the pipeline" to promote more investment this year.

Isara said the government should delay plans to increase the value-added tax (VAT) - for some years - to ensure strong consumer purchasing power. With lower oil prices and low consumer spending at present, some manufacturers were considering lowering retail prices for goods in the near future. However, producers may need some time to adjust costs and prices because of the lower cost of fuel.

"The government does not need to force enterprises to reduce prices. They will move to lower costs if they foresee weak purchasing power, while the costs of production have also decreased," Isara stressed.

Surapong Techaruvichit, president of the Thai Hotels Association (THA), said the association wanted the government to help with three major issues. First, is to seek "quality" tourists rather than a huge number of visitors - big spenders such as business travellers, those coming for medical check-ups and healthcare or coming for niche markets.

The second issue was to strong enforcement of laws. The government should continue cracking down on people who trespass on state land and public areas. The last issue was to develop tourism products and services that are sustainable.

Commerce Minister General Chatchai Sarikulya said: "The government is confident that the Thai economy will grow by 4 per cent this year, driven by many stimulus strategies, as well as closer cooperation between government and private sector."

He said the key engines driving the economy this year would be government investment, support for trade growth - particularly cross-border trade, and the setting up of Special Economic Zones.

Source: http://www.nationmultimedia.com/business/PM-promises-a-good-year-for-business-30251790.html


-- The Nation 2015-01-13

[NongKhaiKid]

It's only the 13th day of January and he's making ' promises ' about business for the year ahead..

Of course the govt can help but there are some things that may be beyond the power of Dear Leader, just don't tell him !

[Thailand]

That will be subsidies for sectors affected by the countries forced reorganisation? All sectors?

This will be an awful year, tourism leading the pack in to economic decline.

Lots of talk but have not seen one positive step that will right the ship as yet.

[PatOngo]

I'd be very interested to hear what "Uncle Too" has to say regarding this matter.

[ExPratt]

"Political issues are also important but they should not worry much. Members of the private sector should not think only about impeachment cases and other political problems,"

Exactly , They should just invest and throw money about without a care in the World

[NongKhaiKid]

I'd be very interested to hear what "Uncle Too" has to say regarding this matter.

" Gottle of geer, gottle of geer ".

Hard to spout the party line clearly with somebody's hand up your bum.

[ezzra]

So no more 'vow'? now promise is the key word? and on what bases pray tell, is he predicting such out comes?

[shirtless]

As we have seen many times already predictions seem to change,

[catweazle]

Could anyone explain to me this then:

Two headlines at TV, both of the same day...

1) PM Prayut promises a good year for business

2) Tourism Council of Thailand warns operators to be prepared for unpredictable year

Another great day of Thai "politics, polls, and predictions" and masterpieces of Thai journalism... I am so done with this.

Edited January 13, 2015 by catweazle

[recycled]

Who writes this crap? Pity the business sector do not agree with him and as of today are calling for tougher measures. The military wouldn't even be able to stimulate a Nana whore with a truck full of dollars.

[captspectre]

I'd be very interested to hear what "Uncle Too" has to say regarding this matter.

if the dear leader says so it must be true!

[janpoo]

And still the Thai people believe this clown.

[Eric Loh]

After the infamous promise per coup, you tend to take his promise with a pinch of salt.

[JOC]

Dear Prayut. A little friendly advice:

Sometimes it is better to remain silent, and let people think you are a fool, than to open your mouth and remove all doubt!!

[yellowboat]

Thai business is looking more like an uninteresting sand box. Quicksand if you are foreing investors or business owner.

[elgordo38]

Could anyone explain to me this then:

Two headlines at TV, both of the same day...

1) PM Prayut promises a good year for business

2) Tourism Council of Thailand warns operators to be prepared for unpredictable year

Another great day of Thai "politics, polls, and predictions" and masterpieces of Thai journalism... I am so done with this.

Frick and Frack

[Costas2008]

It's only the 13th day of January and he's making ' promises ' about business for the year ahead..

Of course the govt can help but there are some things that may be beyond the power of Dear Leader, just don't tell him !

Nothing is beyond the power of the General.

And I suggest you follow his actions up to now.

He has proven that he is not only willing but he is more than capable of delivering.

Good days for the industry the commerce and Thailand as a whole.

Just for once.......take the blinkers off.

[yellowboat]

It's only the 13th day of January and he's making ' promises ' about business for the year ahead..

Of course the govt can help but there are some things that may be beyond the power of Dear Leader, just don't tell him !

Nothing is beyond the power of the General.

And I suggest you follow his actions up to now.

He has proven that he is not only willing but he is more than capable of delivering.

Good days for the industry the commerce and Thailand as a whole.

Just for once.......take the blinkers off.

Arresting students for holding up three fingers, forcing radio stations to play propaganda. The coup as done a lot to scare poeple off. Would love to know where you optimism is coming from.

[baboon]

It's only the 13th day of January and he's making ' promises ' about business for the year ahead..

Of course the govt can help but there are some things that may be beyond the power of Dear Leader, just don't tell him !

Nothing is beyond the power of the General.

And I suggest you follow his actions up to now.

He has proven that he is not only willing but he is more than capable of delivering.

Good days for the industry the commerce and Thailand as a whole.

Just for once.......take the blinkers off.

Arresting students for holding up three fingers, forcing radio stations to play propaganda. The coup as done a lot to scare poeple off. Would love to know where you optimism is coming from.

Have you never been in love yourself?

[Mojomor]

The 2 main English language papers reported this story quite differently.

One report says the business leaders predict 3.5% growth max this year, and it might be less. There was also a call for the roll out of the ant-corruption plan, which has been long awaited.

[wabothai]

"I promise everything will be OK" says his cristal ball.

If he does not come through he will be as trustworthy as the fuzz.

Result.... I am not at liberty to elaborate.

[candide]

After 2014, it can only be better.....

[rickirs]

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

It's only the 13th day of January and he's making ' promises ' about business for the year ahead..

Of course the govt can help but there are some things that may be beyond the power of Dear Leader, just don't tell him !

Nothing is beyond the power of the General.

And I suggest you follow his actions up to now.

He has proven that he is not only willing but he is more than capable of delivering.

Good days for the industry the commerce and Thailand as a whole.

Just for once.......take the blinkers off.

It's not about Prayut being CAPABLE, it's about him actually delivering. Why do you think these businesses are having this meeting - because he has FAILED to move the economy in any predictable improvement with any concrete ACTIONS. His own cabinet complains about government inaction, and they are the government. Gen/ Prayut is becoming the gingerbread man - and soon he'll be all gone.

Edited January 13, 2015 by rickirs

[NeilSA1]

It's only the 13th day of January and he's making ' promises ' about business for the year ahead..

Of course the govt can help but there are some things that may be beyond the power of Dear Leader, just don't tell him !

Did he?

The headline referred to "promises" but the content referred to "vowed ... do its best"

Prime Minister Prayut Chan-o-cha yesterday vowed that his government would do its best to ensure a strong economic performance this year...

[NeilSA1]

So no more 'vow'? now promise is the key word? and on what bases pray tell, is he predicting such out comes?

The headline referred to "promises" but the content referred to "vowed ...(to)... do its best"

Prime Minister Prayut Chan-o-cha yesterday vowed that his government would do its best to ensure a strong economic performance this year...

[NongKhaiKid]

It's only the 13th day of January and he's making ' promises ' about business for the year ahead..

Of course the govt can help but there are some things that may be beyond the power of Dear Leader, just don't tell him !

Nothing is beyond the power of the General.

And I suggest you follow his actions up to now.

He has proven that he is not only willing but he is more than capable of delivering.

Good days for the industry the commerce and Thailand as a whole.

Just for once.......take the blinkers off.

I suggest you follow your own advice.

[Cake Monster]

If the good general is making all these promoses for business, why are the large companies openly questioning the progress that has been made since the coup ?

Companies are now asking why there have been no advances made with the issue of corruption, and the lack of infrastructure for instance, and also there are more and more new ( 54 - I think ) manufacturing plants now going to Indonesia, which has overtaken both Thailand, and Malaysia as a manufacturing center.

Me thinks business in Thailand has started to vote with its money, and its feet, for the future of this country.

[englishoak]

Been waiting for the business happiness line ....

I know, i'll get my coat