Government urged to rely on ASEAN to boost future growth

BANGKOK, Feb 6 (TNA) – The government should take advantage of intra-ASEAN cooperation to develop the grouping into a full-fledged free trade centre to boost Thailand’s future economic growth, according to former finance minister Somkid Jatusripitak.

Delivering a keynote speech on “Looking Ahead for Future Growth through Somkid’s Prospective” at the Post Today Investment Expo 2010, he said Thailand is at a crossroads of economic opportunities and risks and should take this chance to develop itself through the fast-growing ASEAN.

He said Thailand still has potential to boost its industrial strength and develop into a production hub for various industrial products if it builds on knowledge, design, and value-added applications.

Despite the promising prospects ahead, Thailand has experienced a setback from political conflicts, social disorder, weakening state authority, divisiveness, and persistent violence in the deep South.

These problems, if allowed unsolved, would affect the country’s credibility, stability and security, and eventually undermine the economic growth.

He suggested the government step up efforts to maintain laws, apply good governance, and ensure justice if it wants to boost public confidence.

In addition, the government must more quickly address the suspension of investment projects in the Map Ta Phut Industrial Estate since it is a big problem that could undermine foreign investor confidence.

At present, he said, confidence in Thailand has been somewhat undermined, so all parties have the duty to help restore that confidence. (TNA)