Former FTI President is confident that exports will improve from Q3 onward

[webfact]

Former FTI President is confident that exports will improve from Q3 onward

BANGKOK, 2 June 2015, (NNT) - Mr. Praphat Phothiworakhun, Chairman of the Board and Chairman of the Executive Board of Kang Yong Electric Pcl, has said that consumer and investor confidence have improved, but remains stifled by the political situation and global economic slowdown.

Mr. Praphat, who is also a former President of Federation of Thai Industries, stated that Thailand’s export sector shows signs of improvement, thanks to the economic recovery of its trade partners and the baht’s depreciation. Thailand’s trade partners include Japan, the European Union, and Asian countries such as China and ASEAN member nations.

He strongly believes that the local economy and the export sector would perform significantly better from the third quarter onward, pushing the growth of the appliance industry.

Mr. Praphat urged the government to be more firm in its economic stimulus policies, in order to improve the sector.

He also voiced his opinion that the benchmark rate should be reduced with great care. Mr. Praphat said the previous adjustment, which decreased the rate by 0.5 percent, might affect the income of some Thais, such as senior citizens who rely heavily on their bank savings.


-- NNT 2015-06-02

[weegee]

India just dropped their rate for the third time....better do something, or India will be the new investment area, as they are ready to accommodate...

I dont even think China could compete with them once they are completely established.....let alone a struggling economy elsewhere, that has jacked up its currency, going on past cutbacks worldwide, only to find out now, they have got it wrong......ooops

[Srikcir]

"He strongly believes that the local economy and the export sector would perform significantly better from the third quarter onward"

Smart. No mention of any specific projections.

Just everything will get better.

How about we hear from the present FTI president? In April 2014 he had said that the private sector confidence level would "tremendously return" if the the national polls were scheduled. Now the Junta is anticipating national polls in mid-2016.

[elgordo38]

Boy that word confidence sure gets bandied about. Bahts depreciation what country is this guy living in. My home currency gets weaker every time the US dollar gets stronger and the baht seems tied to its coat tail.