ID :
111791
Tue, 03/16/2010 - 09:52
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Shortlink :
http://m.oananews.org//node/111791
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Economy likely to grow more than expected: former finance minster
BANGKOK, Mar 16 (TNA) – The Thai economy is projected to grow more than expected at 5 per cent this year if political standoffs ease and the investment suspension in the Map Ta Phut Industrial Estate ends quickly, according to former deputy premier and finance minister Pridiyathorn Devakula.
However, should both problems continue unabated, the Thai economy would expand only 3 per cent in 2010.
M.R. Pridiyathorn said this year’s economy is set to grow satisfactorily because prices of five main farm products including rice, sugarcane, cassava, rubber, and oil palm are much higher, earning farmers more revenue.
He said consumer spending has increased and exports have grown impressively, as had public spending, but private investment had not yet been improved because of unclear political climates and the Map Ta Phut problems.
However, should the government quickly create clear regulations on investment and environmental protection, domestic and international investors would definitely return to invest because 60 projects are ready to expand investment in the Map Ta Phut Industrial Estate.
“Unless the ongoing rally turns violent and cause any damages, investors will understand the protest occurs under the democratic system. I hope the situation will return to normal quickly because it will make the economy grow smoothly. GDP is likely to grow more than 5 per cent if the political woes and the Map Ta Phut problems are successfully solved,” he said. (TNA)
However, should both problems continue unabated, the Thai economy would expand only 3 per cent in 2010.
M.R. Pridiyathorn said this year’s economy is set to grow satisfactorily because prices of five main farm products including rice, sugarcane, cassava, rubber, and oil palm are much higher, earning farmers more revenue.
He said consumer spending has increased and exports have grown impressively, as had public spending, but private investment had not yet been improved because of unclear political climates and the Map Ta Phut problems.
However, should the government quickly create clear regulations on investment and environmental protection, domestic and international investors would definitely return to invest because 60 projects are ready to expand investment in the Map Ta Phut Industrial Estate.
“Unless the ongoing rally turns violent and cause any damages, investors will understand the protest occurs under the democratic system. I hope the situation will return to normal quickly because it will make the economy grow smoothly. GDP is likely to grow more than 5 per cent if the political woes and the Map Ta Phut problems are successfully solved,” he said. (TNA)
