Thailand adopts key strategies to drive economy

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ECONOMY
Thailand adopts key strategies to drive economy
Sirivish Toomgum
The Nation

BANGKOK: -- Thailand has adopted four key strategies to drive the economy and foster its competitiveness in the global landscape, Deputy Prime Minister MR Pridiyathorn Devakula said in his keynote speech at the Thai-Chinese Exim Association on Thursday.

Thailand has adopted four key strategies to drive the economy and foster its competitiveness in the global landscape, Deputy Prime Minister MR Pridiyathorn Devakula said in his keynote speech at the Thai-Chinese Exim Association on Thursday.

The first strategy is promoting investment in high-tech industries and products, ranging from bio plastic to medical equipment, he explained. The Board of Investment announced a list of tax privileges this kind of investment would entail since January.

The second policy is tapping natural resources such as potash and steel to establish new industries such as fertiliser and upstream steel industries.

The other two policies are establishing transport and logistical connectivity with neighbours and developing special economic zones in border areas.

Source: http://www.nationmultimedia.com/business/Thailand-adopts-key-strategies-to-drive-economy-30264152.html


-- The Nation 2015-07-10

[PatOngo]

I do hope the strategic economy drivers are more competent than motor vehicle drivers!

[shirtless]

Sounds like a plan but will it work i doubt it

[Manbing]

Ok lets see how these ideas float:

1: Investing and promoting investment in Hi Tech.

Need technologically skilled workforce - Not in evidence, therefore need education policies promoting vocational education in these areas.

2. Tapping natural resources -

Fertilisers - OK i'll bite, how much BS does a country need to feed the nation?

Steel - Upstream products - Good idea, but no one is buying your manufactured products because of a looming global economic crisis

3 + 4

Logistics hub for ASEAN nations and border economic manufacture trade zones.

All based on people in the west buying what you make, trade and ship -

Good luck with that

[Srikcir]

"The second policy is tapping natural resources such as potash ... to establish new industries such as fertiliser ..."

China buys much of Thailand's potash to make and EXPORT fertilizer to Thailand among other countries.

I suspect China will not be pleased to lose a customer and gain a competitor.

China uses the Buy & Sell trade policy: You Buy and I Sell.

[bamnutsak]

This poor sap continues to show how out of his depth he truly his. Amazing Field Marshall Prayut hasn't sacked him yet, but he is probably trained to defer to the "MR" title?

[casindonet]

Would like to add a fifth strategy : Don't purchase 3 Chinese subs

[northernboy]

Yes With Thailand greatly trained technical workers and the abundance of experience in the China Thai community can offer in business ethics and appreciation of social welfare, that plan will surely bring Thailand greater prosperity.

[sammygood]

some country, whatever country,

please come to invest

please come build our railroad infrastructure

....

no loss of face in this ?

[Orac]

In the other paper the Finance Minister is talking about increasing the budget deficit to 4% of GDP in order to maintain a 3% growth rate which is not a good sign and suggests continuing weakness in exports and consumer spending. Basically borrowing more money to invest in infrastructure so as to boost the figures.

[elgordo38]

Ok lets see how these ideas float:

1: Investing and promoting investment in Hi Tech.

Need technologically skilled workforce - Not in evidence, therefore need education policies promoting vocational education in these areas.

2. Tapping natural resources -

Fertilisers - OK i'll bite, how much BS does a country need to feed the nation?

Steel - Upstream products - Good idea, but no one is buying your manufactured products because of a looming global economic crisis

3 + 4

Logistics hub for ASEAN nations and border economic manufacture trade zones.

All based on people in the west buying what you make, trade and ship -

Good luck with that

There you go driving a truck through their predictions. Are all world leaders and forecasters using the same fortune teller as they all sound the same. We are going to H in a hand basket and they keep touting prosperity. Everybody has a debt hangover that will not likely subside instantly. This mess was created over the decades and now big business smells blood and they want to give us the coup de grace as governments have literally become impotent in protecting us and are leaving us to the corporate vultures.

[Rancid]

Why haven't they also added printing billions and giving it to bankers. The West seems to believe that helps the economy.

[Eric Loh]

Here is one strategy from the Economic Book for Dummies. Political stability and sustainable democracy devoid of coups.

[Orac]

Here is one strategy from the Economic Book for Dummies. Political stability and sustainable democracy devoid of coups.

When you have a large export industry it also helps to be on speaking terms with your overseas markets rather than effectively frozen out of bilateral trade talks.

[Eric Loh]

Here is one strategy from the Economic Book for Dummies. Political stability and sustainable democracy devoid of coups.

When you have a large export industry it also helps to be on speaking terms with your overseas markets rather than effectively frozen out of bilateral trade talks.

So true when export of goods and services represent 75% of GDP. Double whammy when you have so less friendly countries that you can discuss to increase export when your traditional importing countries are slowing down Plus foreign investors that will increase your export for the future will be scared off by political instability. When export declined, most countries will be organizing trade delegations and finding new markets. Just how many countries have the current PM visited for trade? He is a hostage of his own action.