Connect with us

Economics

Thailand to Cope with Impacts from Volatility in Financial Markets

Prime Minister Yingluck Shinawatra urged the people to remain confident in the sound foundation of the Thai economy, saying that impacts from volatility in the world economy might have panicked local investors

Boris Sullivan

Published

on

Thailand is in a good state of development on ETFs

Prime Minister Yingluck Shinawatra said that the Government is making efforts to cope with impacts from volatility in global financial markets.

Speaking after the weekly Cabinet meeting, the Prime Minister revealed that the meeting had discussed concerns over the European debt crisis, which was leading to tumbling Asian markets.

She urged the people to remain confident in the sound foundation of the Thai economy, saying that impacts from volatility in the world economy might have panicked local investors. However, she said, all relevant agencies had been instructed to urgently restore confidence among investors.

stocks ETF

Prime Minister Yingluck Shinawatra urged the people to remain confident in the sound foundation of the Thai economy, saying that impacts from volatility in the world economy might have panicked local investors

The Prime Minister called on members of the media to help boost confidence in the Thai economy. As for the Government, she said that emphasis would be placed on generating more household income and strengthening the domestic economy.

Regarding a call by the private sector for the Government to review its populist policies, Prime Minister Yingluck said that all policies implemented by the Government were aimed at stimulating the country’s economy.

Moreover, the Government will accelerate infrastructure investment in order to generate employment. At the same time, it has still maintained fiscal discipline, putting in place an efficient fiscal risk management system.

Commenting on the European debt crisis, Deputy Prime Minister and Commerce Minister Kittiratt Na-Ranong said that the problem had continued some time and the Europeans would have to solve their problem. Thailand and other Asian countries have adjusted to the situation, so they felt only slight impacts.

Mr. Kittiratt stated that Thailand should focus on its local economy and not heavily rely on exports. Europe is one of Thailand’s major markets. To cushion impacts, Thailand should pay greater attention to export diversification in order to lessen the degree of export dependence on traditional markets.

Meanwhile, Governor of the Bank of Thailand Prasarn Trairatvorakul said that the Bank of Thailand was closely monitoring the volatility in the global financial markets. The recent sell-off by foreign investors in the Thai stock market was not worrisome, when compared with the flow-in capital. The Bank of Thailand was ready to cope with the situation, if the sell-off led to volatility in the baht. He believed that the sell-off would be in a short term because of worries about the euro-zone debt crisis.

Mr. Prasarn said that the Bangkok of Thailand is prepared to allow Thai investors to take more money out of the country in order to invest overseas. It will also conduct a study on a master plan concerning capital mobility to cope with flow-in capital in the long run and to prevent it from putting pressure on the baht and asset prices in Thailand.

via Inside Thailand — Thailand Making Efforts to Cope with Impacts from Volatility in Global Financial Markets.

Comments

Economics

1.7 million Thais without smartphones register for "Rao Chana" benefits

The Rao Chana scheme has seen a large number of Thais who don’t have smartphones visiting the branches of Krung Thai Bank (KTB) and its mobile units around the country to register in person for the government’s 7,000-baht benefit.

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – The Rao Chana scheme has seen a large number of Thais who don’t have smartphones visiting the branches of Krung Thai Bank (KTB) and its mobile units around the country to register in person for the government’s 7,000-baht benefit.

(more…)
Continue Reading

Economics

BoI allows private sector in border logistics center

National News Bureau of Thailand

Published

on

logomain

NAKHON PHANOM (NNT) – The Thailand Board of Investment (BoI) has agreed to allow the private sector getting involved in the construction of a border logistics and transport center in Nakhon Phanom province.

Transport Minister Saksayam Chidchob said the BoI approved in principle providing incentives to the private sector concerning this center.

The incentives will be offered in relation to an inland container depot project, a distribution center project and a project to construct buildings for industrial plants and warehouses.

Source link

Continue Reading

Economics

Thailand Post joins Prompt Song app to buy supplies at market for restaurants

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – Thailand Post Distribution Co., Ltd. has joined with the Prompt Song application to buy supplies at a market for restaurants via the online system, which is another option for vendors during the COVID-19 situation.

Mr. Pheera Udomkitsakul, Managing Director of Thailand Post Distribution Co., Ltd, said that the delivery service through online ordering is another service operated by Thailand Post via the e-Marketplace Platform in the form of the Prompt Song application.

Thailand Post will pick up products from the manufacturer or distributor and store them at a temperature controlled warehouse. The area is divided by a modern system. The vehicle tracking system is managed using a bar code to ensure that the products are delivered to the service’s users on time. The delivery times ate 3-8 a.m. The service is being piloted in Bangkok and its vicinity.

This will solve a problem for restaurant operators who can’t buy ingredients for cooking or market closures due to the COVID-19 situation as the application allows the vendors to wait in front of the restaurant.

Mr. Pheera said that a good and comprehensive logistics system will play a very important role in helping operators reduce problems and costs, systematization and distribution and reduce the risk of product defects. It saves time in product distribution, resulting in smooth and efficient trading.

Source link

Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,634 other subscribers

Trending