Deputy PM Surapong assures US business of sound Thai economy

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Deputy PM Surapong assures US business of sound Thai economy



NEW YORK, April 15 (TNA) – Thailand's Deputy Prime Minister and Finance Minister Surapong Suebwonglee has assured a gathering of American major mutual fund managers and investors of the Kingdom's economic viability, informing them that the situation has now changed from two years ago when the country was affected by a military coup.

Leading a group of senior executives of four major Thai firms listed on the Stock Exchange of Thailand (SET), Mr. Surapong told the US fund managers and business leaders who oversee 32 significant mutual funds with combined assets of over US$100 billion during a roadshow here that most Thais had become more concerned of their country's economy and wanted to see it become more prospered.

Mr. Surapong reportedly told them that he was confident that Thailand's economy would march forward and people would not allow it to become sluggish as in the past two years when the military seized power and toppled an elected government.

He said the Thai economy is now changed compared to two years ago because the current elected government has issued several short- and long-term measures to stimulate the economy, improving the infrastructure and finding ways to boost people's incomes.

On international investor concerns over rising inflation in Thailand, Mr. Surapong said he had explained to the US business leaders that the Thai government was trying to contain the increases in goods prices.

He also assured them that political parties in the Thai coalition government are now attempting to amend the constitution with an aim to stabilsze politics.

US investors, said Mr. Surapong, responded positively and were confident in the Thai economy, but they also wanted the Thai government to start implementing mega-projects.

He said the Thai capital market development committee is scheduled to meet on April 23 and that he would inform them of foreign investors' recommendations -- including how to further improve the Thai market, increase tax benefits and add more good governance with an aim to attract more foreign investment into the market. (TNA)-E004

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[bkkandrew]

Mr. Surapong reportedly told them that he was confident that Thailand's economy would march forward and people would not allow it to become sluggish as in the past two years when the military seized power and toppled an elected government.

An unfortunate choice of metaphore...

[bkkandrew]

This statement...

On international investor concerns over rising inflation in Thailand, Mr. Surapong said he had explained to the US business leaders that the Thai government was trying to contain the increases in goods prices.

Is a contradiction of this....

US investors, said Mr. Surapong, responded positively and were confident in the Thai economy, but they also wanted the Thai government to start implementing mega-projects.

...And this...

finding ways to boost people's incomes.

Oh dear!

[gjbkk]

He also assured them that political parties in the Thai coalition government are now attempting to amend the constitution with an aim to stabilsze politics.

[John]

Too bad that the US cannot assure any sound US economy for now and for the future.

[Fabian]

^ You see how much better Thai politicians do, they can.

[gjbkk]

He also assured them that political parties in the Thai coalition government are now attempting to amend the constitution with an aim to stabilsze politics.

Govt risks bloodshed, says prasong

The former chairman of the junta-sponsored Constitution Drafting Committee, Prasong Soonsiri, warned yesterday that the Samak Sundaravej government was risking bloodshed and its political demise if it goes ahead with its amendment of the charter.


Published on April 16, 2008




He said Articles 237 and 309 were the two crucial aspects that the government wanted to amend in order to ensure the ruling party survives a threat of possible disbandment due to electoral fraud. Another goal is for ousted premier Thaksin Shinawatra to escape the wrath of the Asset Examination Committee, which was created by the junta and recognised by Article 309 of the charter, he said.

Prasong said more time should be given to the current charter, which passed a referendum organised by the interim government.

"The question is, when should it be amended and for whom? What's wrong with the 2007 charter? It's like they want to overhaul the whole engine while the engine hasn't been put to work and they do not know where the engine's problems lie," he said.

Prasong defended the 2007 Constitution further by insisting that all previous 17 charters in Thailand were penned as a result of coups d'etat, one way or another.

He added that the current charter also passed a referendum, in which 14 million people voted to endorse it. Some 10 million voters rejected the charter, while martial law was still in effect in many provinces.

Prasong claimed that any "political trap" set by the charter was not aimed specifically at Thaksin or its allies, but was for all corrupt politicians.

Given the situation and looming protests, Prasong - a close adviser of the People's Alliance for Democracy - warned that the administration would last only months, possibly even weeks.
Democrat Party deputy secretary-general Thepthai Saenpong expressed similar views about possible bloodshed.

The Nation


Oh dear, Khun Surapong Suebwonglee seems to be on a different planet

[bkkandrew]

Prasong defended the 2007 Constitution further by insisting that all previous 17 charters in Thailand were penned as a result of coups d'etat, one way or another.

So thats all right then!