Ex-DPM:Thailand will become center of Southeast Asia

BANGOK, January 17 (TNA) - Former Thai deputy prime minister and finance minister Virabongse Ramakura said Tuesday that Thailand has potential to become a business center in Southeast Asia and an important trading partner of China, the United States and Europe. When delivering his speech on “Thailand’s future development strategies” at the Chief Executive Officers (CEOs) Forum held at Muang Thong Thani in the outskirts of Bangkok, Virabongse, who is now head of the Pheu Thai Party-led government's committee for national rehabilitation and future, foresaw that Thailand will be an export center of Japanese products and will take leading roles in Southeast Asia. Virabongse also predicted that the powerful United States and Europe will be deteriorating; while Asia and Russia will then become the centers of prosperity in the next century. Virabongse acknowledged that Thailand has excessive liquidity and should invest in building a better future, suggesting that the first step toward the better future is to return the 1.14-trillion-baht-debt of the government's Financial Institutions Development Fund (FIDF) to the Bank of Thailand (BOT); while a government mutual fund named Wayupak should then buy shares of the country's state enterprises to end their state enterprise status and thus reduce public debts. The former deputy premier confirmed that Thailand will be committed to financial disciplines with sustainable national economy, thanks to the potential of Asia, in which Thailand is situated, to become the leader of the world economy in the future, replacing the existing powerful economies. The former Thai deputy premier assured that severe flooding, like late last year, would not recur in Thailand, as authorities concerned had detected flaws which could be fixed within 6-7 months, including drainage problems in the western side of the Chao Phraya River, noting that solutions would include the maintenance of sluice gates, dykes and waterways. (TNA)