Sign up | Log in



Home  >>   Daily News  >>   Thailand News  >>   Economy  >>   Finance minister vows competition
NEWS UPDATES Asean Affairs           30   August  2011

Finance minister vows competition

Related Stories

August 27, 2011
 Revised Thai fiscal budget in January

August 25, 2011
Thai central bank raises interest rate

August 24, 2011
Thai inflation poses risks

August 23,2011
Thailand could raise prime rate again

August 20, 2011
Income gap- Thai government priority

August 19,2011
Thai growth up

The new Thai government has vowed to move quickly to restore political and economic stability, cooperate with the private sector and fight corruption to strengthen the country's competitiveness.

Thirachai Phuvanatnaranubala, the finance minister, said yesterday that reconciliation and political stability are among the priorities of the Pheu Thai-led government.

Mr Thirachai, a former secretary-general of the Securities and Exchange Commission, said fiscal and monetary policies would be coordinated to ensure economic stability.

"The government will maintain fiscal discipline. But in the short term, we have to accept that expenses will be higher than income," the minister told the Thailand Competitiveness Conference 2011, co-hosted by the Thailand Management Association (TMA).

"We want strong financial institutions that can compete fairly," he said.

Mr. Thirachai affirmed that the government would act as a facilitator for the private sector and continue to invest in public infrastructure, including railways connecting different parts of Thailand and other countries in the region, to lower logistics costs.

As well, he said the Yingluck Shinawatra administration would appoint a committee to address the corruption that has the business sector so worried.

Arkhom Termpittayapaisith, the secretary-general of the National Economic and Social Development Board, said Thailand has barely improved in terms of competitiveness, moving from 28th place in 2003 to 27th this year in the world ranking of the International Institute for Management Development (IMD).

Significant weaknesses include infrastructure, human capital and research and development. "We have seen investments falling considerably, now standing at 18-19 percent of gross domestic product compared with 40 percent in the past," Mr. Arkhom said.

Low investment means the country has little chance to generate more income in the future. Thus the private sector has roles to play in boosting investments in the areas of water, medicine and sport, he said.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    30  August  2011 Subsribe Now !
• Malaysia FDI surges Subcribe: Asean Affairs Global Magazine
• Hardline terrorist defiant in Philippines Asean Affairs Premium
• Singapore Muslims warned of “dark clouds”
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Finance minister vows competition
• Thai wages fall behind inflation
• Vietnamese banks raise reserves
• PetroVietnam signs oil deal

Asean Analysis    30  August  2011

Advertise Your Brand
• Casino issue surfaces again in Thailand Sponsor Our Events

Asean Stock Watch   30  August  2011

• Asean Stock Watch-August 30 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand