BANGKOK, 31 July 2012 – The University of Thai Chamber of Commerce (UTCC) has revealed that the private sector wants different government agencies to integrate their works for more effective results.
According to Director of the UTCC Center for Economic and Business Forecasting (CEBF) Thanawat Polvichai, the people rated 7 out of 10 points on the Commerce Ministry’s product promotions; while the private sector rated only 4.7 points on the matter.
He cited that the private sector complained that the government did not pay much attention on the production factor. It also suggested that the government integrate the works of the Agriculture and Cooperatives, Commerce, and Transport Ministries in order to reduce the sector’s production costs and in adjusting down the economic figures.
Dr Thanawat said many economic institutions and agencies such as the UTCC and the Bank of Thailand have scaled down their economic speculation of the GDP growth rate of 6% to 5.7%, adding that the Thai economic expansion, which was earlier predicted at 5.4%, has also been lowered to 5%, indicating a slower-than-expected economic recovery. He also stated that product price control is necessary at the moment.