webfact Posted September 16, 2015 Share Posted September 16, 2015 PM buoyed by new economic measuresTHE NATIONHAPPY HOUR Prime Minister Prayut Chan-o-cha and his economic tzar, Deputy Prime Minister Somkid Jatusripitak, enjoy lunch with journalists and government officials at Government House.BANGKOK: -- REVIVING the country's sluggish economy remains one of the biggest challenges after running the country for more than a year, Prime Minister General Prayut Chan-o-cha said yesterday.During a luncheon yesterday with Government House reporters, Prayut admitted that obstacles abound to his government's economic-management efforts because the Thai economy is closely interlinked with the international economy.But he pledged to take on the challenges after appointing Dr Somkid Jatusripitak as head of the government's new economic team late last month.Flanked by Somkid and other Cabinet members at the luncheon, the prime minister said the new economic tsar was ready to devote himself to improving the people's well-being. Prayut also vowed to woo the international community during his visit to the United States this month to address the United Nations General Assembly.He said Thailand needed to create a better understanding with the rest of the world about the country's "transition".Thailand should be seen as a civilised place of economic growth, not a warring state, according to the prime minister, who will leave for New York on September 23 and return on October 1.During his UN speech, Prayut plans to talk about Thailand's sustainable economic development model and highlight His Majesty the King's initiatives on sufficiency economy.To revive Thailand's economy, Prayut said, the government had announced new measures and incentives to help businesses and industries to regain confidence and invest. For example, the Cabinet on Tuesday approved legislative changes proposed by the Board of Investment to extend income-tax exemptions for innovation and high-tech projects to a maximum of 13 years from the current eight years.Earlier, the Somkid team announced a series of economic-stimulus and financial-aid packages worth more than Bt300 billion for low-income earners and small and medium-sized enterprises.Prayut said more measures were on the way to encourage consumers to spend their money to boost the domestic economy.Some analysts have suggested that Thailand's gross domestic product might grow by less than 3 per cent this year as projected by the government because the global economic slump has seriously affected the country's exporters.During the first seven months of this year, exports, which account for 70 per cent of Thailand's GDP, dropped by more than 4 per cent from the same period last year, raising concerns that GDP growth would fall short of the target.In addition, the country has faced challenges resulting from the issue of illegal, unreported and unregulated (IUU) fishing as well as the aviation-safety issue as raised by the European Union and the International Civil Aviation Organisation.These issues could affect seafood exports to the EU and the tourism industry, which are major foreign-exchange earners. In addition, the United States recently maintained Thailand's status at Tier 3, the lowest level in its annual report on trafficking in persons.Since the coup led by Prayut on May 22 last year, the US and the EU have limited their official relations with Thailand while calling for the country to return to a democratic path.Source: http://www.nationmultimedia.com/politics/PM-buoyed-by-new-economic-measures-30268958.html-- The Nation 2015-09-17 Link to comment Share on other sites More sharing options...
Somtamnication Posted September 16, 2015 Share Posted September 16, 2015 Nice free lunch. The economy is doing great for them and their supporters and families! Link to comment Share on other sites More sharing options...
Reigntax Posted September 16, 2015 Share Posted September 16, 2015 Seriously, what does the military know or understand about business or investment. Zip, zero, ziltch. Link to comment Share on other sites More sharing options...
ldiablo Posted September 16, 2015 Share Posted September 16, 2015 Seriously, what does the military know or understand about business or investment. Zip, zero, ziltch.When the military claims that buying 3 Chinese submarines is a good investment it certainly does make one wonder doesn't it. Link to comment Share on other sites More sharing options...
ldiablo Posted September 16, 2015 Share Posted September 16, 2015 Prayut also vowed to woo the international community during his visit to the United States this month to address the United Nations General Assembly. He can't even woo his own country, yet he thinks he is going to woo the international community. Good luck General. Just remember, you can't send people for AA at the United Nations. Link to comment Share on other sites More sharing options...
BSJ Posted September 17, 2015 Share Posted September 17, 2015 Seriously, what does the military know or understand about business or investment. Zip, zero, ziltch.When the military claims that buying 3 Chinese submarines is a good investment it certainly does make one wonder doesn't it. Looking at their personal wealth it would seem they know something about making money! Link to comment Share on other sites More sharing options...
MZurf Posted September 17, 2015 Share Posted September 17, 2015 Seriously, what does the military know or understand about business or investment. Zip, zero, ziltch.When the military claims that buying 3 Chinese submarines is a good investment it certainly does make one wonder doesn't it. Looking at their personal wealth it would seem they know something about making money! Don't you know that it's only red shirts' fortunes that we're allowed to question? Link to comment Share on other sites More sharing options...
djjamie Posted September 17, 2015 Share Posted September 17, 2015 It is good to see some sensible pro active measures being implemented to steer the economy through the global storm of uncertainty. One can only hope (for the sake of the majority) that these stimulus measures work. Link to comment Share on other sites More sharing options...
ldiablo Posted September 17, 2015 Share Posted September 17, 2015 It is good to see some sensible pro active measures being implemented to steer the economy through the global storm of uncertainty. One can only hope (for the sake of the majority) that these stimulus measures work. Oh no he's back Link to comment Share on other sites More sharing options...
AnnieT Posted September 17, 2015 Share Posted September 17, 2015 (edited) because the Thai economy is closely interlinked with the international economy. Ah. It's all the fault of other countries. many of whom are doing just fine thank you very much. Not the fault of the government for being incompetent, stealing power from an elected government, and definitely not because off the repression they have to apply to stop power being taken back. Of course, this is not what he'll be saying at the UN, but today he is speaking to the Thai audience, many of whom are as dim and mendacious as he is so it's OK, he can say what they want to hear - doesn't have to be true, they wouldn't know the difference anyway. Edited September 17, 2015 by AnnieT Link to comment Share on other sites More sharing options...
DKUNPUTAF713 Posted September 17, 2015 Share Posted September 17, 2015 <<<Prayut also vowed to woo the international community during his visit to the United States this month to address the United Nations General Assembly.>>>He can't even woo his own country, yet he thinks he is going to woo the international community. Good luck General. Just remember, you can't send people for AA at the United Nations.>>> For some now I have personally made sure the UN takes notice of Prayut!! Sorry, but I can't elaborate any further! Link to comment Share on other sites More sharing options...
jerojero Posted September 17, 2015 Share Posted September 17, 2015 Encourage consumers to spend their money.... Most citizens in record debt, millions of farmers without crops, Where's the money to spend? Oh sorry, forgot elitist millionaire generals have lots of money to spend. Link to comment Share on other sites More sharing options...
meltingpot2015 Posted September 17, 2015 Share Posted September 17, 2015 Lets see if Dr Somkid Jatusripitak and his team can deliver...I seem to recall similar scenario happened in Canada and UK. When the Economy was in the dolldrums, Mark Carney was installed.UK's defenietly not out of the woods yet, but in a much better position. Prayut admitted that obstacles abound to his government's economic-management efforts because the Thai economy is closely interlinked with the international economy. Which country isn't, except north korea. Link to comment Share on other sites More sharing options...
Srikcir Posted September 17, 2015 Share Posted September 17, 2015 Prayut should get credit for appointing Somkid and abandoning his fellow generals. Unfortunately, it took 16 months of economic policy failures to get Prayut to look beyond the security of the Junta and begin looking to the SECURITY OF THE NATION. In terms of economic performance by a Thai military coup, Prayut's regime places lowest. Now Somkid is limited to he can do to improve the economy for 2015 in terms of GDP growth and he was not part of the regime that developed the approved 2016 fiscal budget (Oct. 2015-Sept. 2016). So he will carry Prayut's economic baggage into 2016 and have to contend with Prayut's erratic leadership that follows only the vision of military sustainability. Link to comment Share on other sites More sharing options...
quandow Posted September 17, 2015 Share Posted September 17, 2015 "changes proposed by the Board of Investment to extend income-tax exemptions for innovation and high-tech projects to a maximum of 13 years from the current eight years." Change it to 100 years, it will make no difference. Thailand is still not a democracy, the people are getting tired of it, and eventually the pot will boil over. Investors don't like those odds. Link to comment Share on other sites More sharing options...
elgordo38 Posted September 17, 2015 Share Posted September 17, 2015 Nice free lunch. The economy is doing great for them and their supporters and families! Isn't a buoy something that bobs around in the water? Boy I could be wrong about this one. Take at look at the PM he is the one with all the bling. Buy gold. Link to comment Share on other sites More sharing options...
elgordo38 Posted September 17, 2015 Share Posted September 17, 2015 Nice free lunch. The economy is doing great for them and their supporters and families! Yes indeedee do they have reached the promised land while the rest of us are still wandering around in the wilderness. Times have changed. Brother could you spare a billion? Link to comment Share on other sites More sharing options...
elgordo38 Posted September 17, 2015 Share Posted September 17, 2015 Seriously, what does the military know or understand about business or investment. Zip, zero, ziltch. When you carry a big stick you don't have to know/worry about business or investment. Poverty is definitely not in this guys future and thats all matters in our new world of individualism. The new name of the game is to look after numero uno. The rest of us dwell in a sea of forgotten souls. Link to comment Share on other sites More sharing options...
elgordo38 Posted September 17, 2015 Share Posted September 17, 2015 because the Thai economy is closely interlinked with the international economy. Ah. It's all the fault of other countries. many of whom are doing just fine thank you very much. Not the fault of the government for being incompetent, stealing power from an elected government, and definitely not because off the repression they have to apply to stop power being taken back. Of course, this is not what he'll be saying at the UN, but today he is speaking to the Thai audience, many of whom are as dim and mendacious as he is so it's OK, he can say what they want to hear - doesn't have to be true, they wouldn't know the difference anyway. Are you saying his Robin Hood veneer is starting to wear thin. Are you saying he is trying to keep us wandering around in Thaiwood Forest forever?. With social media the peasants are starting to sort the bullshit from the chaff. If it looks like BS smells like BS what else can it be? Link to comment Share on other sites More sharing options...
elgordo38 Posted September 17, 2015 Share Posted September 17, 2015 Encourage consumers to spend their money.... Most citizens in record debt, millions of farmers without crops, Where's the money to spend? Oh sorry, forgot elitist millionaire generals have lots of money to spend. Politicians are the same the world over. Trump and Bernie Sanders are making promises to the tune of 18 trillion dollars each all borrowed money to make America great again. All they have to do now is sell these wild ideas to the people like politicos have done in the past. When I see some idiot guy(will not mention his race) from the middle east order a 75 million dollar cake I know the world is in deep trouble. Maybe its for the poor people in his country. You know the old saying "Let them eat cake" Is there any nutrition in cake? Its jewel encrusted so watch your teeth. Link to comment Share on other sites More sharing options...
meltingpot2015 Posted September 17, 2015 Share Posted September 17, 2015 (edited) Beware of urban economic booms that raise food prices for the rural poor.... Edited September 17, 2015 by meltingpot2015 Link to comment Share on other sites More sharing options...
meltingpot2015 Posted September 17, 2015 Share Posted September 17, 2015 (edited) These guys are not elected politicians, so have very little experience of handling complex tasks. e.g. a country's economy. Elected politicians (career politicians or not...I realise career politicians are often attacked for not been able to relate to the common man/woman) usually come through the ranks, often serving for local government (UK) or state government (in the U.S). Elected politicians for all their faults (same as accountants, lawyers, bankers, we all like to have a jibe at them), when they serve the people, do make a huge difference. I have heard some people ask "what do politicians actually do". Go somewhere where they don't have elected representatives...you will realize what elected politicians do do by experiencing what unelected politicians don't do. Edited September 17, 2015 by meltingpot2015 Link to comment Share on other sites More sharing options...
Nobb Posted September 17, 2015 Share Posted September 17, 2015 (edited) Economic growth will never happen as long as he is in power.No respect for what the people want and a all out order to arrest any one who speaks against him. Total lack of respect for the news agency and his peers in lower positions. If you do not agree with him you could be in jail or stand trial. No longer the land of a thousand smiles! In this picture he is flashing his big gold ring. In Thailand he is a big fish in a little pond. But to the world he is a little fish in a big pond! Napolean attitude! Edited September 17, 2015 by Nobb Link to comment Share on other sites More sharing options...
Eric Loh Posted September 17, 2015 Share Posted September 17, 2015 It is good to see some sensible pro active measures being implemented to steer the economy through the global storm of uncertainty. One can only hope (for the sake of the majority) that these stimulus measures work. I give him credit for stepping back and appointing Somkid and allowed him the free hand to pick his team. Thailand is not short of liquidity and stimulating the domestic economy is much more manageable than the external economic. Thailand should have a 50:50 domestic:export economy. I have a quiet confidence that Somkid's measures will work. Link to comment Share on other sites More sharing options...
Thai at Heart Posted September 17, 2015 Share Posted September 17, 2015 Their sustainable economic plan and sufficiency? They have more than 60% exports in the economy and demand is falling. How quite, is this sustainable? Link to comment Share on other sites More sharing options...
Thai at Heart Posted September 17, 2015 Share Posted September 17, 2015 Prayut should get credit for appointing Somkid and abandoning his fellow generals. Unfortunately, it took 16 months of economic policy failures to get Prayut to look beyond the security of the Junta and begin looking to the SECURITY OF THE NATION. In terms of economic performance by a Thai military coup, Prayut's regime places lowest. Now Somkid is limited to he can do to improve the economy for 2015 in terms of GDP growth and he was not part of the regime that developed the approved 2016 fiscal budget (Oct. 2015-Sept. 2016). So he will carry Prayut's economic baggage into 2016 and have to contend with Prayut's erratic leadership that follows only the vision of military sustainability. Amazingly they used the same guy who put in capital control for about a day after the previous coup and then tool them away after ONE day. Then claimed they "didn't matter". Piryathorn is a complete and utter numpty. Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now