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Three-pronged strategy to boost industry unveiled

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Three-pronged strategy to boost industry unveiled

By THE NATION

 

800_2586a0947c62606.jpg?v=1563365033

Industry Minister Suriya Juangroongruangkit - Nation Photo by Rachanon Intharagsa

 

Industry Minister Suriya Juangroongruangkit has set three priorities for the strategy to boost industry inherited from the previous administration.

 

Easier access to bank loans for small and medium-sized enterprises (SMEs), promotion of 10 target industries, and better environmental protection would be the focus, Suriya said on Wednesday after presiding over the Thailand Industry Expo 2019 hosted by his ministry at Impact Muangthong Thani exhibition centre.

 

Suriya will visit the Federation of Thai Industries (FTI) early next month to gather information on challenges and problems faced by the industrial sector.

 

He said that his first priority was to continue pushing the promotion of 10 target industries – next-generation automotives, intelligent electronics, advanced agriculture and biotechnology, food processing, medical tourism, digital, robotics, aviation and logistics, comprehensive healthcare, and also biofuel and biochemicals.

 

Another priority is to seek help from the Finance Ministry and Bank of Thailand in easing access to loans for SMEs. Suriya will focus efforts on SMEs that find it difficult to obtain loans because of past debts that have already been cleared.

 

The third priority is to encourage factories to adopt environmentally friendly production processes, including the recycling of industrial waste.

 

Addressing the possibility of a rise in the minimum wage, he said that Prime Minister General Prayut Chan-o-cha had assigned a tripartite national daily wage committee to consider the issue.

 

Suriya said his ministry would also promote economic development zones akin to the Eastern Economic Corridor (EEC) in other regions of Thailand.

 

FTI chairman Supant Mongkolsuthree said that he would propose to Suriya plans supporting the use of local resources in mega projects.

 

He added that he would like to see the central bank launch long-term measures to curb speculation in the baht. He said the bank should trim the policy rate from the current 1.75 per cent to suppress the flow of foreign money speculating on the currency.

 

Source: https://www.nationthailand.com/business/30373139

 

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-- © Copyright The Nation Thailand 2019-07-18

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Aparrently the double pronged strategy failed

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Posted (edited)

First prong make loans easier to get then people can spend even more money they don't have,priceless.

Prong number three concentrate on something other than the economic problem and hope it goes away!Priceless.

Edited by FarFlungFalang
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Posted (edited)
3 hours ago, smedly said:

1. Reduce the value of the Thai baht

2. Thai baht is too strong 

3. Devalue the Thai baht

How to reduce the value of Thai baht?

USA commerce department is monitoring and list Thailand as a currency manipulator and impose traffic. They just escaped the list in the latest publication but still under radar. US commerce department believe Thai baht is too weak and Thailand is manipulating to keep it weak. 

Devaluing will have disastrous effect on export as countries will start imposing tariffs and inflation will soar.

What they need is to reduce the inflow of foreign currency into Thailand to improve export. Ban all single or group male tourists visits to Thailand who are mainly interested in brothel (aka bars) visits and for sex. 

Tourism should promote only family and medical tourism initially

 

Make Thailand truly as a Land of Smile not a Land of Sex (LOS)

 

Focus on export to generate foreign currency by improving productivity and labor skills.

 

Put a moratorium on new retirement visa and increase financial requirement for existing retirement to weed out the poor ones like Malaysia..

 

In summary, build Thailand for family tourism not continue with sex tourism, allow retirements to wealthy individual only not for the poorest westerners, improve productivity and labor skills, close down brothels and stop pimping your daughters to creepy older sexpats for marriage.  

 

I know these are only wishes because of lack of intellectual people in Thailand, they are yet to grasp that the land is a laughing stock of the world and the largest concentration of brothels anywhere on the Earth.  

Edited by onera1961
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2 minutes ago, holy cow cm said:

Speaking from forked tongue!

 from the hub of prongs!

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1 hour ago, onera1961 said:

How to reduce the value of Thai baht?

USA commerce department is monitoring and list Thailand as a currency manipulator and impose traffic. They just escaped the list in the latest publication but still under radar. US commerce department believe Thai baht is too weak and Thailand is manipulating to keep it weak. 

Devaluing will have disastrous effect on export as countries will start imposing tariffs and inflation will soar.

What they need is to reduce the inflow of foreign currency into Thailand to improve export. Ban all single or group male tourists visits to Thailand who are mainly interested in brothel (aka bars) visits and for sex. 

Tourism should promote only family and medical tourism initially

 

Make Thailand truly as a Land of Smile not a Land of Sex (LOS)

 

Focus on export to generate foreign currency by improving productivity and labor skills.

 

Put a moratorium on new retirement visa and increase financial requirement for existing retirement to weed out the poor ones like Malaysia..

 

In summary, build Thailand for family tourism not continue with sex tourism, allow retirements to wealthy individual only not for the poorest westerners, improve productivity and labor skills, close down brothels and stop pimping your daughters to creepy older sexpats for marriage.  

 

I know these are only wishes because of lack of intellectual people in Thailand, they are yet to grasp that the land is a laughing stock of the world and the largest concentration of brothels anywhere on the Earth.  

Why are only the rich allowed to retire in your Thailand Dreamland?

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The government should have a key strategy to reduce the dependence on export and increase the domestic economy to balance the economy. The 70% of country economic output reliance on export is vulnerable to global trade woes. Thailand has a large population to have a vibrant domestic economy and has a good start in terms of a healthy tourism industry that contribute to 9.4% of GDP and a entrepreneur spirit. The three-pronged strategy do has some of the elements that can improve the domestic economy but the reduction of reliance to export should be the encompassing strategy. More fiscal policies should be deployed to unleash more dynamism in domestic consumption. Will see if their strategies will be implemented effectively. 

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5 minutes ago, Eric Loh said:

Will see if their strategies will be implemented effectively. 

I think you might be in for a long long long wait!

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2 hours ago, onera1961 said:

How to reduce the value of Thai baht?

USA commerce department is monitoring and list Thailand as a currency manipulator and impose traffic. They just escaped the list in the latest publication but still under radar. US commerce department believe Thai baht is too weak and Thailand is manipulating to keep it weak. 

Devaluing will have disastrous effect on export as countries will start imposing tariffs and inflation will soar.

What they need is to reduce the inflow of foreign currency into Thailand to improve export. Ban all single or group male tourists visits to Thailand who are mainly interested in brothel (aka bars) visits and for sex. 

Tourism should promote only family and medical tourism initially

 

Make Thailand truly as a Land of Smile not a Land of Sex (LOS)

 

Focus on export to generate foreign currency by improving productivity and labor skills.

 

Put a moratorium on new retirement visa and increase financial requirement for existing retirement to weed out the poor ones like Malaysia..

 

In summary, build Thailand for family tourism not continue with sex tourism, allow retirements to wealthy individual only not for the poorest westerners, improve productivity and labor skills, close down brothels and stop pimping your daughters to creepy older sexpats for marriage.  

 

I know these are only wishes because of lack of intellectual people in Thailand, they are yet to grasp that the land is a laughing stock of the world and the largest concentration of brothels anywhere on the Earth.  

If Thailand's borders were retracted to a previous state returning a large area to Laos in the north and northeast and Malaysia in the south then the poor people pimping their daughters would no longer be a Thai problem.The numbers of the pimping of daughters I think is really small compared with the numbers of daughters who go into the sex industry voluntarily after being victims of failed marriages or to earn more money to subsidise their lifestyle or education.

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They can plan all they want—but with a high Baht it ain’t happening.  Period.

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Posted (edited)
10 hours ago, ZeVonderBearz said:

Why are only the rich allowed to retire in your Thailand Dreamland?

Rich will buy imported farang food/goods and foreign currency can be spent by importers. Poor bring foreign currency and spend in informal economy, there by accumulating foreign currency that makes baht stronger destroying export and formal economy. 

Edited by onera1961

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