National economic development board strategies to be given to government soon

Members of the Thai Chamber of Commerce (TCC) have prepared six strategies aimed at boosting seven businesses and improving competitiveness and will present them to the government soon, a senior TCC official said Sunday.
Chatchai Boonyarat, vice chairman of TCC, said besides boosting competitiveness, the strategies also focus on adjusting the national economy, developing knowledge, boosting good governance, preservation of the environment and upgrading the quality of life.
His remarks were made following the end of a three-day meeting of the TCC held in Chiang Mai. More than 1,000 chamber members participated.
The private sector felt it is necessary to draw up their strategies after the National Economic and Social Development Board (NESDB) implemented 10 national plans with several of them out of alignment, especially for political reasons, because of frequent changes of government, said Chatchai.
He said the private sector considered that they should have a voice in laying out national economic development and forward it to NESDB so that the agency could use it in its plan.
Next year’s TCC meeting will be held in Khon Kaen.
Meanwhile, Thanawat Palavichai, director of the Economic and Business Forecast Centre at the University of Thai Chamber of Commerce (UTCC), said a poll conducted of 270 TCC members attending the meeting found that 37.9 percent agreed that the current Thai economy is worse than last year’s.
Slightly over one fifth of those polled - 20.8 percent of total respondents - said the national economy would start recovering in the first quarter of 2010 while 30.8 percent thought it would pick up in the final quarter this year.
Up to 23.8 percent of the respondents agreed that the government should immediately end Thailand’s political unrest, 18.9 percent said that confidence must be restored and 15.9 percent said the sluggish economy should be revitalized. (TNA)

Business leaders of tomorrow briefed on ASEAN Economic Community

Department Director-General Nantawan Sakuntanak (center) meets with Thailand’s future business leaders.

Patcharapol Panrak
University students were given a briefing on how a planned ASEAN Economic Community will work in hopes that, by its planned 2015 start, Thailand’s future business leaders will be able to hit the ground running.
The Nov. 22 ASEAN Economic Community Youth Camp at the Naval Ordnance Department in Sattahip also gave small business owners a briefing on concepts behind the AEC. The seminar was sponsored by the ASEAN Department of Trade Negotiations and Ministry of Commerce.
Department Director-General Nantawan Sakuntanak told attendees that 60 percent of the work needed to form the economic bloc has been completed and that Thailand is moving aggressively to complete its AEC Scorecard. Results from the scorecard survey will be presented at next year’s ASEAN Summit.
She noted that similar workshops will be held in Bangkok and nearby provinces to educate about 1,250 more people on the economic community process.
 

Pattaya gold dealers fear high prices, weak dollar will hurt business

Vimolrat Singnikorn
As gold prices soar to record highs, Pattaya gold dealers are concerned about a slump in business due to weak overseas currencies and unwillingness of customers to pay high rates.

Nittaya Patimasongkroh, owner of the Tarn Thong Gold Shop in South Pattaya, has 30 years experience in the gold ornament business. She pointed out that Pattaya’s gold market might be stagnant this coming New Year.

The price for one baht of gold reached nearly 20,000 baht last week, exacerbating a prolonged slowdown for gold sellers. Dealers previously warned that many gold shops may be forced to close because not only have buyers decreased, but sellers trying to cash in on record prices are draining stores’ cash reserves.
Nittaya Patimasongkroh, owner of the Tarn Thong Gold Shop in south Pattaya, believes the gold-price inflation is due to a weak U.S. dollar against the Thai baht and America’s own economic problems.
During the current recession, she said, people are investing more in gold, pushing up its price. At the same time, the weak dollar is forcing Thailand to pay more to import gold. Also, Nittaya said, the U.S. budget deficit and weak dollar are pushing other counties to stop investing in dollars, which exacerbates the situation.
Nittaya said a big source of revenue for Pattaya gold shops are foreign tourists who not only buy Thai gold as souvenirs but also are brought into gold shops by Thai women wanting presents. With the weak dollar and sky-high gold prices, she expects there will be far fewer men buying gold for their Thai sweethearts this coming holiday season.

Key economic indicators show more recovery

The gradual global economic recovery has helped push Thai exports in October to contract only 3 percent compared to 17.7 percent in the third quarter, according to the Ministry of Finance.
Ministry spokesperson Ekniti Nitithanprapas said consumption indicators from real-term value added tax collection in October contracted by 7 percent compared to 15.6 percent in the third quarter of 2009.
As both exports and private consumption in October improved, so it was with foreign tourist arrivals. The number of international arrivals to Thailand in October jumped to 1.2 million, up for the second consecutive month this year, said Ekniti.
The agricultural sector during the month rose positively for the first time in six months at 1.5 percent compared to a contraction of 5.3 percent in September, he said.
Unemployment remained low at 1.2 percent of the total labor force in October while international reserves stood at over US$135 billion, reflecting the country’s economic stability, said Ekniti.
He said the Finance Ministry is confident that Thailand’s economy during the fourth quarter would outperform the third quarter and the ministry would revise its economic projections for 2009 and 2010 before the end of December. (TNA)

Sattahip Technical College student wins WorldSkills gold medal

Nathaphon Chaiprasian (front row, center), a student at Sattahip Technical College and an intern at Denso Corp., won a gold medal in the WorldSkills International Competition in Canada in September.

Patcharapol Panrak
A Sattahip Technical College student working as an intern for automotive parts company Denso Corp. has won a gold medal for Thailand at the WorldSkills International Completion in Canada.
Nathaphon Chaiprasian returned to a hero’s welcome at the college Nov. 23, after winning for his lathe work in the CNC Turning category at the September event in Calgary, Alberta. He was the first worker from an overseas subsidiary of the Japanese company to win at the competition, which has been held every two years since 1919.
Nathaphon, one of many students who receive internships at Denso each year, said he was proud to represent his country and encouraged students to work hard to improve themselves.
College Acting Director Kritchapon Tamuang said the school was proud of its student and that he’d brought honor to his country, university and family.