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BoT sees moderate expansion for Thai economy
The Thai economy will continue to expand moderately this year although it
has been affected by the global economic crisis, according to a senior
official at the Bank of Thailand.
Speaking at a seminar on “The BoT’s Role in Turning Around the Thai
Economy,” Songtham Pinto, senior official in charge of the Monetary Policy
Group’s Macro-economy Division, said the Thai economic malaise was
attributed to the global economic recession, particularly in the United
States and Europe.
Now, it has escalated and spilled over to Asia and had an impact on
Thailand, particularly its exports.
He said what the government and all parties concerned should do to cope with
the economic downturn is to restore consumers’ confidence and encourage the
public to spend and invest more.
Simultaneously, various fiscal measures must be taken to stimulate the
economy at the grass roots level.
He said the Monetary Policy Committee’s move the cut the policy interest
rate sharply to 2 percent would help ease borrowing costs, encouraging
investors to invest more.
Songtham said the central bank maintains its economic growth estimate for
this year at 0.5-2.5 percent, but it will revise its projection on January
23.
Songtham believes the Thai economy will not shrink this year despite the
seriousness of the global economic crisis, but will continue to expand
moderately while inflation rates will remain low. (TNA)
Money expo comes to town
(L to R) Sopawadee Lertmanatchai,
deputy manager of the Stock Exchange of Thailand, Santi Wiriyarangsarit, editor
of Money & Banking Magazine, and Pattaya Deputy Mayor Verawat Khakhay.
Ariyawat Nuamsawat
The Money Expo is coming to Pattaya on February 6-8 to be held at the
PEACH Convention Hall at the Royal Cliff Beach Resort Hotel.
Touting a slogan of “Easy loans at low interest rates, invest professionally for
high returns,” the expo itself may bring with it a boost for the local economy
in challenging times.
Santi Wiriyarangsarit, editor of Money & Banking Magazine and organizer of the
exhibition, gave a press conference at city hall on January 15.
“Money & Banking Magazine chose Pattaya as the location for the event because it
has a fast-expanding economy in the eastern region which will grow significantly
in the future, especially after the re-opening of Suvarnabhumi Airport,” he
said.
The expo will help promote business connections in the region covering Chonburi,
Rayong, Chantaburi and Chachoengsao which has some 3.1 million inhabitants, he
said.
Information about complete investment and financial services will be available
at the fair such as credit and bank deposits, housing and personal loans, credit
cards, lease credit, SME credit and all types of bank deposits and investments.
Investors can learn about shares, mutual funds, debt instruments, fixed income
securities and life insurance.
Financial experts will be on hand ready to advise on personal financial plans
and business planning for small to medium size enterprises.
Financial institutions that will participate include Bangkok Bank, Kasikorn Thai
Bank, Siam Commercial Bank, Ayudhaya Bank, Thai Military Bank, Siam City Bank,
Bank Thai, Government Housing Bank, GE Capital Auto Lease Public Co., Ltd., Aeon
Thana Sinsap (Thailand) Public Company Limited, and Muang Thai Life Insurance
Company Limited.
From the government side will come the Stock Exchange of Thailand, Revenue
Department, Office of the Insurance Commission and Promotion of Insurance
Businesses and Bangkok Commercial Assets Management.
Santi said that the money exhibition is a roaming one which has traveled six
times to several regions.
The expos have received good response with a total of some 620,000 people
attending. They allegedly have generated 64 billion baht of business.
More new entrepreneurs trained
Ariyawat Nuamsawat
The Ministry of Industry has so far trained more than 6,000
potential entrepreneurs around the country in its series of small business
courses.
 Minister
of Industry Charnchai Chairungrueang at the training.
The latest 98 trainees collected certificates from the course at Nong Nooch
Tropical Gardens after received training in business management to become
professional entrepreneurs.
On January 10 Charnchai Chairungrueang, minister of industry, held a
training course in the entrepreneur development program classes 186-189 with
Pisit Boonchuang, deputy governor of Chonburi, and Pramote Wittayasuk,
director of the Industry Development Center, at Nong Nooch.
Pramote said that the training course taught entrepreneurs to be flexible
and to know the use of technology in management. This will boost investment,
business expansion and use of raw materials, leading to increase in
employment.
Class number 186 was given in Chonburi, 187 in Bangkok, 188 in Samutsongkram
and 189 in Chaiyanart. So far 185 classes have been held nationwide bringing
the total of entrepreneurs trained to 6,173.
Pisit said that the industrial sector in Chonburi is very important for the
country’s economy as presently there are over 4,000 factories and 15,000
businesses operating here, employing some 500,000 workers.
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