Thai private sector aiming for timely adjustment to cope with global crisis



BANGKOK, 25 July 2012  – Members of the private sector are urging Thailand to timely adjust itself in order to better cope with global crisis while enabling the local economy to be more connected with Asia.


MFC Asset Management Public Company Chairman of the Board of Directors Narongchai Akrasanee said during the seminar, titled “Solving the Global Economic Problems: Crisis or Opportunity for Thailand”, that Thailand is to quickly adjust itself under current circumstances.

Mr. Narongchai also believes that the current global crisis will not be as severe as that seen in 2008, although the world trade will experience a slowdown.

Therefore, he is calling on Thailand to adjust its economic structure to be more Asian-oriented, and to be more aligned with the Middle East, South Asia, Australia and New Zealand.

He also commented that all state-initiated joint projects with all neighboring countries will help strengthen Thai economy and make it more connected with the rest of Asia.

Mr. Narongchai went on to say that while Thai financial institutions are in a sound position with appropriate ratio of debts, all should make sure that the foreign exchange rates will not be too volatile.

Lastly, he suggested that the Thai export growth will not reach the ambitious target of 15 percent, with a lower growth rate likely during the latter of the year.