Private Sector Supports New Premier

[george]

Private sector supports new premier

BANGKOK: -- Thailand's top private sector executives have expressed their support for the appointment of Gen. Surayud Chulanont, privy councillor and former army chief as Thailand's interim prime minister, saying they believed in his honesty and ability to create reconciliation among Thai people.

Santi Vilassakdanont, Chairman of the Federation of Thai Industries, said Gen. Surayud is a suitable person for the premiership under the current circumstance.

The retired army chief had an image of honesty, transparency, and good governance. He is acceptable to people around the world.

He believed the appointment would help boost confidence among foreign investors.

On an economic team in the new interim government, he said he was confident the new premier would choose persons with knowledge, capability, and suitability, including integrity. Likewise, he said, with the legal and social teams.

What the new interim government should accelerate performing now are the security and reconciliation among Thai people.

On the economic front, he said, the government should speed up pushing for budgeting for fiscal 2007 to ensure it could be disbursed by January next year.

It would lead to state investment for the economic recovery. Investment in mega-projects such as elevated and underground electric train projects as part of the metropolitan Bangkok mass transit programme would remain intact.

He said the Thai economy remains strong, boosted by a high export growth.

Jitti Tangsitpakdi, President of Gold Trading Association, said Gen. Surayud is acceptable to Thai society because he has an image of honesty and has a personality suitable to his occupying an active role in building national reconciliation.

He believed Gen. Surayud would perform his duty in a constructive manner and be acceptable to foreign business and diplomatic communities.

Urgent economic policies the government should adopt include stimulating tourism and building the country's positive image on a continuing basis.

--TNA 2006-10-02

Post-coup PM takes helm; US ambassador first official visitor

BANGKOK: -- In a major step toward normalcy in a cooperative, rather than combative, Thai society, General Surayud Chulanont, Thailand's interim prime minister, began his first day in office at Government House on Monday, two weeks after military leaders staged a bloodless coup d'tat that brought him to power.

United States ambassador Ralph Boyce was among his first official visitors. They discussed the current political situation in Thailand.

Speaking to journalists after the meeting, the US envoy said the new Thai Prime Minister assured him that he would restore democracy to the kingdom as soon as possible, return civil liberties and rights to the public, and that the next general election will be held soon.

"We had a very good discussion," Mr. Boyce said. "I think it's very well known that the United States urged the speedy return to an elected government and the protection of civil liberties during the interval.

"The prime minister assured me that would be the case," the US diplomat said

The 63-year old former army chief and privy councillor pledged on Sunday that he would work to unify a Thai society which is deeply split, with political problems and insurgency in the restive South as the most pressing issues to address.

The new premier said he would consider visiting the troubled region once the kingdom gets the new Cabinet.

Gen. Surayud told a press conference on Sunday that the new cabinet line-up would be chosen in a week.

Meanwhile, the tanks and troops that toppled the Thaksin Administration on September 19 putsch quietly returned to their barracks following the announcement of Thailand's 24th prime minister.

Gen. Surayud and his new cabinet are expected to run the country for one year before the completion of a new Constitution.

There are calls from some academics and NGO organisations for an earlier return to elective democracy, but it is not known yet whether or what attention the new prime minister will give to such advice.

The intended new constitution will set the stage--and the rules--for the next general election, probably in late 2007.

--TNA 2006-10-02

[george]

Markets to react positively to new premier, say bank executives

BANGKOK: -- Executives of commercial banks on Monday viewed the money and capital markets would react positively to the appointment of Gen. Surayud Chulanont, former privy councillor and army chief, as Thailand’s new interim premier.

Chatichai Payuhanavee, Senior Director of Kasikornbank Plc, said Gen. Surayud is suitable for the premiership because he had neutrality.

He believed the new premier would not experience difficulties in finding a team of economic ministers.

He said the administration of the new government in one year ahead would involve building an order and reconciliation in the country.

On a suitable person for the finance portfolio, he said, Bank of Thailand’s Governor M.R. Pridiyathorn Devakula is one of ideal candidates because he had experiences in public and private affairs.

Apart from being versatile in economics, he believed, the BOT chief would be a good coordinator between the private and public sectors if he was appointed the finance minister.

Usara Vilaipitchaya, Senior Economist of Standard Chartered (Thai) Bank, said Gen. Surayud is suitable to be the interim premier because he had been recognised by all parties in terms of neutrality and his sacrifice for the country.

She believed the money and capital markets would react positively to his appointment.

She said a suitable person for the finance minister post should have an active role on economics because the country needs to build up confidence particularly among foreign investors in the current period.

--TNA 2006-10-02

[Jai Dee]

Private sectors welcome new PM due to his positive reputation of honesty

The private business operators welcome the new Prime Minister of Thailand, Gen. Surayud Chulanont, and they consider him to be a sincere person with a good reputation. They said that they are not worried about the national economy as before.

The President of the Federation of Thai Industries (FTI), Mr. Santi Wiladsakdanon said he is no longer concerned about the economic situation in Thailand, following the appointment of Gen. Surayud. He said Gen Surayud's profile is clean, and his qualifications are acceptable among people and units, including investors. He is confident that Gen. Surayud will be able to regain investors' confidence soon, and the economy will advance smoothly under the self-sufficiency philosophy.

Mr. Santi said the new government needs to approve the budget for next year soon, adding that the private sector would like to see this issue to be approved within this year.

He said the budget approval would improve the country's economy and boost investors' confidence, and it would also ensure that the new government will lead the national economy in the right direction.

Source: Thai National News Bureau Public Relations Department - 02 October 2006

[Jai Dee]

Finance experts say having a new PM helps stimulate the economy

A financial expert has indicated that having a new Prime Minister helps stimulate the economy while urging the new PM to look into income distribution and population’s debts

Associate Professor Montri Sotiyanurak (มนตรี โสติยานุรักษ์) , a monetary and financial expert of the National Institute of Development Administration (NIDA), said that the appointment of General Surayud Chulanont as the Prime Minister yesterday made people believe in the Council for Democratic Reform’s promise to give power back to Thai people in two weeks’ time.

Mr. Montri commented that Gen Surayud Chulanont, the new Prime Minister, has morale principles and is honest, self-concious as well as compromising. The appointment has brightened up the investment situation with the private sector being more confident after the past 8-9 months of uncertainties. As the situation has cleared up with clearer government policy and Cabinet members to be appointed, the economic atmosphere in the fourth quarter has become more favourable.

The NIDA expert also said the new Prime Minister has to take care of income distribution and people's debts which need urgent solutions. He said besides that currently, Thailand's oil imports constitute 80 percent of the country's energy consumption.The amount has led to an imbalance in trade and current account.

He also urged the new Prime Minister to improve the country's transport infrastructure in order to support the tourism industry which is now approaching the high season.

Source: Thai National News Bureau Public Relations Department - 02 October 2006

[Jai Dee]

US Ambassador to Thailand Ralph Boyce is greeted by Prime Minister Surayud Chulanont at Government House yesterday on the latter’s first day at work.

Boyce was the first foreign diplomat to meet Surayud since his appointment by the military council that ousted the government of Thaksin Shinawatra.

Source: The Nation - 3 October 2006