Thai consumer confidence index up slightly in June

Despite worries over the global and Thai economic slowdown, continuing domestic political uncertainty and the widening spread of Influenza A (H1N1) virus in the country, Thailand’s consumer confidence index (CCI) in June this year rose marginally to 72.5, up from 71.5 the previous month, according to a report.
The slight increase in the CCI in June also showed the index rising for the first time since February, but still below the 100-mark for 60 consecutive months, said the report issued by the University of Thai Chamber of Commerce (UTCC).
UTCC Vice-Rector Saowanee Thairungroj said the slight jump in CCI in June implied that consumers hoped for an improved domestic economic situation after the parliament recently approved the government’s executive decree to borrow Bt400 billion and a draft bill to borrow another Bt400 billion to jump start the economy between 2010-2012.
Economic and Business Forecast Centre director Thanawat Palavichai said consumption is not expected to increase greatly until this quarter due to persisting negative factors, including the worldwide economic slowdown, affecting Thailand, rising domestic unemployment, the widening impact of the H1N1 virus and delays in the government’s success in solving the political challenges it faces. (TNA)

PM pledges to invest heavily in Thailand

Amid tight security, Prime Minister Abhisit Vejjajiva on Saturday pledged to the people of Thailand’s northeastern province of Buriram that his government will invest heavily in the country within the next three years, and that its investment in Buriram alone could reach Bt6.5 billion.
Abhisit told an assembly of residents gathered at Buriram railway station that his government realizes well the problems faced by the people, especially regarding water sources, and that is the reason why he visited the province - to tell them personally that his administration will work for their benefit.
The government will provide for all the people and will solve the country’s problems by using all available resources, said Abhisit.
The prime minister arrived in the province early Saturday for a one-day visit amid tight security provided by policemen, both uniformed and plainclothes.
Helicopters were seen flying above to see whether any anti-government protesters were spotted in areas where he visited.
Abhisit later visited a school in Lam Plai Mat district which advises people in the community to conserve and use alternative energy as well as promoting natural resources conservation. The project has helped boost the economy on a sustainable basis to the villagers.
Another highlight of his visit to Buriram came after lunch when he drove Thai-made tractors and visited rubber planters, asking them about problems of rice and rubber farming. He told growers that his government would implement a price guarantee system to help them because “it’s impossible (for the government) to buy from everybody” in order to shore up prices.
The growers then told him that selling prices were still acceptable but prices of fertilizer are still too expensive in which the prime minister turned to Agriculture and Cooperatives Minister Theera Wongsamut, who accompanied him, and asked him to help solve the problem. (TNA)
 

Most Thais fail to save for retirement

Most Thai people fail to save money for use in the post-retirement period, according to a survey of opinions by the National Statistics Office (NSO).
NSO Deputy Secretary-General Variya Wongpreecha revealed the survey showed that three out of four Thais - 73 percent of all Thai people - do not save money through any funds while 23.3 percent are fund members.
It also found 98.2 percent believe that financial planning to save money for use upon retirement should be given a top priority.
Ms. Variya said the survey indicated that several tens of millions of people did not save money for use after retirement.
Boosting saving for after-retirement security will improve the quality life for society overall, she said.
She said the discipline of saving is very important. People should set a target and plan saving by calculating the amount of money needed for their post-retirement living.
A savings account should be kept separate from spending and investment accounts, she said. Then, financial analysis and planning should be done to reduce risks and protect those who are saving, and their families, from financial instability, she added. (TNA)