webfact Posted May 29, 2016 Share Posted May 29, 2016 Government urges private sector to help move economy forwardBANGKOK, 30 May 2016 (NNT) - The government is calling on the private sector to help the country’s economy progress.Deputy Prime Minister Somkid Jatusripitak said that investment by the private sector remained low during the first quarter of 2016, while budget disbursement by government offices rose 12 percent from a year ago, which is the highest in many years.Mr. Somkid’s comments were made during his participation in an assembly of regional Chambers of Commerce for the first quarter of this year.He said that the government has accordingly introduced incentive policies via the Board of Investment of Thailand to encourage the private sector to boost its investment by 19 percent.Mr. Somkid added that the Chambers of Commerce and the Joint Standing Committee on Commerce, Industry and Banking are responsible for promoting tourism and the regional economy.The deputy prime minister went on to say that the government is now providing support for start-ups in accordance with the Thai economy 4.0 policy, by inviting local and overseas interests to invest in innovative developments, a scheme which is expected to draw as much as 500 billion baht in investment over the next 4-5 years.-- NNT 2016-05-30 Link to comment Share on other sites More sharing options...
jaltsc Posted May 29, 2016 Share Posted May 29, 2016 (edited) "Deputy Prime Minister Somkid Jatusripitak said that investment by the private sector remained low during the first quarter of 2016, while budget disbursement by government offices rose 12 percent from a year ago, which is the highest in many years." It's called "Lack of confidence in the direction that the country is heading". "Mr. Somkid added that the Chambers of Commerce and the Joint Standing Committee on Commerce, Industry and Banking are responsible for promoting tourism and the regional economy." And it's up to the government to make the country safe and stable so people are willing to visit and invest in it. Investors like to know that the government they are dealing with won't be overthrown after they pump money into a business venture. Edited May 29, 2016 by jaltsc Link to comment Share on other sites More sharing options...
selftaopath Posted May 30, 2016 Share Posted May 30, 2016 I know little a/b economics. So the question is: Wouldn't real competition in all areas draw investors? Currently it appears there are numerous monopolies restricting commerce. Link to comment Share on other sites More sharing options...
Brer Fox Posted May 30, 2016 Share Posted May 30, 2016 A desperate last ditch stand to try to stimulate private investment from within Thailand. Akin to pushing the proverbial uphill with a rubber fork. Foreign investors have deserted Thailand for better opportunities elsewhere where their investments will have security and the labour force is much more productive. Locally the economic chooks are coming home to roost; the days of scratching dirt and laying eggs seem to have passed. Thais seem to be making a mess of those industries they have left; tourism included. Ironically it is the sex industry that is keeping part of that alive. Link to comment Share on other sites More sharing options...
Your Thainess Posted May 30, 2016 Share Posted May 30, 2016 (edited) Entire country urges military to their learn its proper role in society Edited May 30, 2016 by Your Thainess Link to comment Share on other sites More sharing options...
shirtless Posted May 30, 2016 Share Posted May 30, 2016 The private sector cares solely for the private sector , this government will be waiting along time . Link to comment Share on other sites More sharing options...
NongKhaiKid Posted May 30, 2016 Share Posted May 30, 2016 I know little a/b economics. So the question is: Wouldn't real competition in all areas draw investors? Currently it appears there are numerous monopolies restricting commerce. The Thai Tobacco Monopoly, a state enterprise under the control of the Finance Ministry, actually uses the word in it's title. Link to comment Share on other sites More sharing options...
mtls2005 Posted May 30, 2016 Share Posted May 30, 2016 I think somkid is looking at an inative post in the very near future. He was supposed to be an economic guru, maybe his past success was just a result of being in the right place/right time, but perhaps there is not much he can do with so many, many, many problems. Link to comment Share on other sites More sharing options...
selftaopath Posted May 30, 2016 Share Posted May 30, 2016 I know little a/b economics. So the question is: Wouldn't real competition in all areas draw investors? Currently it appears there are numerous monopolies restricting commerce. The Thai Tobacco Monopoly, a state enterprise under the control of the Finance Ministry, actually uses the word in it's title. Yea, and most of the rest rely on "the unwritten" understanding. Link to comment Share on other sites More sharing options...
chainarong Posted May 30, 2016 Share Posted May 30, 2016 Until sovereign risk has been address and the direction in which Thailand is heading , not many would be expanding or willing to increase spending in this uncertain climate, as I mentioned before , if Prayut had only sat down with Gen Prem and listened to the obstacles that will crop up in having a coup Prayut may have had second thoughts , that was why the Coup of 06 handed over to a civilian Government, not only do you have the international community hammering on your door , investments dry up , however slow learners never do learn...................................... Link to comment Share on other sites More sharing options...
Emster23 Posted May 30, 2016 Share Posted May 30, 2016 "Government urges private sector to help move economy forward" Maybe if they took some of the chains off, sector could move forward? Things like top to bottom corruption, cronyism, irrational interference in free market, etc. I cannot think of one private business stating "Nah, we're big enough as it is. Think we will just sit here and stagnate" Link to comment Share on other sites More sharing options...
mtls2005 Posted May 30, 2016 Share Posted May 30, 2016 I know little a/b economics. So the question is: Wouldn't real competition in all areas draw investors? Currently it appears there are numerous monopolies restricting commerce. And amazingly, those monopolies are allowed to freely expand into almost all other countries including China, with limited or no restrictions. Funny that. Link to comment Share on other sites More sharing options...
streetsweeper Posted May 30, 2016 Share Posted May 30, 2016 (edited) Government urges.... Government gets rude awakening.... Government has started to develop chronic diarrhea... Junta bullies cash-out asap.... Who didn't predict this? Edited May 30, 2016 by streetsweeper Link to comment Share on other sites More sharing options...
toybits Posted May 30, 2016 Share Posted May 30, 2016 Getting rather desperate... grab power, screw up, try to repair botched up job, call for help from private sector... Link to comment Share on other sites More sharing options...
Winniedapu Posted May 30, 2016 Share Posted May 30, 2016 I think somkid is looking at an inative post in the very near future. He was supposed to be an economic guru, maybe his past success was just a result of being in the right place/right time, but perhaps there is not much he can do with so many, many, many problems. "maybe his past success was just a result of being in the right place/right time" And with the benefit of hindsight, with the right people. But any future opportunity that may have opened up for him is firmly closed now. W Link to comment Share on other sites More sharing options...
Reigntax Posted May 30, 2016 Share Posted May 30, 2016 And the private sector asks the junta to return to the barracks, dream about some subs, amulets and fake medals and thank God they will never have to defend the country against anything other than some farmers with pitchforks. Link to comment Share on other sites More sharing options...
jabis Posted May 30, 2016 Share Posted May 30, 2016 I bet a few of them "eager investors", from Dubai, would be disqualified of their input right from the start Link to comment Share on other sites More sharing options...
GAZZPA Posted May 30, 2016 Share Posted May 30, 2016 Glad he said this, I can just see the Boardrooms of all the private companies putting their heads together on how they can invest in a politically unstable and worst performing economy in the Asean,,, because the DPM asked them. There is answer, a bag of chocolate toffees for the right answer... A clue, it sounds like erection! Link to comment Share on other sites More sharing options...
GAZZPA Posted May 30, 2016 Share Posted May 30, 2016 Government urges.... Government gets rude awakening.... Government has started to develop chronic diarrhea... Junta bullies cash-out asap.... Who didn't predict this? Me, I was expecting rainbows, harmony, children playing in the safe, clean streets (at the weekend after their excellent, reformed school taught them how to think) and people cheering as they can afford to live and save, and foreigners welcomed with a broad Thai smile to come and share in paradise. Link to comment Share on other sites More sharing options...
heybruce Posted May 30, 2016 Share Posted May 30, 2016 I know little a/b economics. So the question is: Wouldn't real competition in all areas draw investors? Currently it appears there are numerous monopolies restricting commerce. The Thai Tobacco Monopoly, a state enterprise under the control of the Finance Ministry, actually uses the word in it's title. Yea, and most of the rest rely on "the unwritten" understanding. I assume you mean people like the owners of Singha beer http://www.forbes.com/profile/santi-bhirombhakdi/ and Chang beer http://www.forbes.com/profile/charoen-sirivadhanabhakdi/ . They produce a crap product, only drinkable when served very cold, and sell it at inflated prices, much higher than better beers sold in neighboring countries. Better beers from other ASEAN countries are somehow prevented from being widely distributed, and beers from outside ASEAN are taxed to the point of being unaffordable. Low quality, high prices, and owners that are among the richest people in the world. It's good to have friends in government. Does anyone expect that to change? Link to comment Share on other sites More sharing options...
wabothai Posted May 30, 2016 Share Posted May 30, 2016 No ownwership of at least 51 % forget it. Link to comment Share on other sites More sharing options...
tbthailand Posted May 30, 2016 Share Posted May 30, 2016 Government urges private sector to help move economy forward ... because after 2 years of absolute power we still have yet to find our economic @$$ with both hands... morons. Link to comment Share on other sites More sharing options...
dbrenn Posted May 30, 2016 Share Posted May 30, 2016 "Deputy Prime Minister Somkid Jatusripitak said that investment by the private sector remained low during the first quarter of 2016, while budget disbursement by government offices rose 12 percent from a year ago, which is the highest in many years." It's called "Lack of confidence in the direction that the country is heading". "Mr. Somkid added that the Chambers of Commerce and the Joint Standing Committee on Commerce, Industry and Banking are responsible for promoting tourism and the regional economy." And it's up to the government to make the country safe and stable so people are willing to visit and invest in it. Investors like to know that the government they are dealing with won't be overthrown after they pump money into a business venture. Very true. The khaki-clad buffoons who gate crashed the government are the root cause of the confidence crisis in business investment. Now those idiot generals are expecting that the business community will underwrite the risk for their own crass behaviour, which of course will never happen. Link to comment Share on other sites More sharing options...
ozyjon Posted May 30, 2016 Share Posted May 30, 2016 They took the words right out of the Greek prime ministers mouth during the Greek elections a few years back,, the Greeks world wide are still laughing at the statement The government is calling on the private sector to help the country’s economy progress. Yeah,,, right. Link to comment Share on other sites More sharing options...
Winniedapu Posted May 30, 2016 Share Posted May 30, 2016 "Deputy Prime Minister Somkid Jatusripitak said that investment by the private sector remained low during the first quarter of 2016, while budget disbursement by government offices rose 12 percent from a year ago, which is the highest in many years." It's called "Lack of confidence in the direction that the country is heading". "Mr. Somkid added that the Chambers of Commerce and the Joint Standing Committee on Commerce, Industry and Banking are responsible for promoting tourism and the regional economy." And it's up to the government to make the country safe and stable so people are willing to visit and invest in it. Investors like to know that the government they are dealing with won't be overthrown after they pump money into a business venture. Very true. The khaki-clad buffoons who gate crashed the government are the root cause of the confidence crisis in business investment. Now those idiot generals are expecting that the business community will underwrite the risk for their own crass behaviour, which of course will never happen. Agreed. There will be a reckoning. Wait and see. W Link to comment Share on other sites More sharing options...
connda Posted May 31, 2016 Share Posted May 31, 2016 Humm, we seem to be conflicted here??? Govt social enterprise company not allowing capitalist taking over local businesseshttp://www.thaivisa.com/forum/topic/921147-govt-social-enterprise-company-not-allowing-capitalist-taking-over-local-businesses/?utm_source=newsletter-20160530-0703&utm_medium=email&utm_campaign=news Damned if you do; damned if you don't. Link to comment Share on other sites More sharing options...
Srikcir Posted May 31, 2016 Share Posted May 31, 2016 Why the urging? Vice Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand Somkiat Anurat just said the Economic Confident lndex for the country as a whole is above 86, which he took as indication that the majority of Thai business owners believe the economy will improve in the second half of the year. Maybe the SMEs should urge the government to start telling the truth about the economy. Link to comment Share on other sites More sharing options...
selftaopath Posted June 1, 2016 Share Posted June 1, 2016 Why the urging? Vice Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand Somkiat Anurat just said the Economic Confident lndex for the country as a whole is above 86, which he took as indication that the majority of Thai business owners believe the economy will improve in the second half of the year. Maybe the SMEs should urge the government to start telling the truth about the economy. TRUTH! ? In Thailand? lol lol lol good one. Link to comment Share on other sites More sharing options...
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