Newly-elected Thai government urged to carry on mega-investment projects

BANGKOK, May 13 (TNA) - Thailand's newly-elected government has been urged to carry on mega-investment projects of the incumbent caretaker administration and implement new economic stimulus measures to drive ahead the national economy, particularly through domestic consumption. Paiboon Nalinthrangkurn, Chairman of the Federation of Thai Capital Market Organizations (FETCO), made the remarks on Monday, saying that such mega-investment as extended electric train systems in Greater Bangkok and innovative plans at Thailand's Eastern Economic Corridor (EEC) should boost international investors' confidence in the Thai economy to a certain extent and draw them back to the Thai stock market. Paiboon assessed that the confidence in the Thai economy by international investors, if restored, should bring back almost 100 billion baht-investment funds to the Stock Exchange of Thailand (SET) after an over six-year outflow. FETCO and Aira Capital Public Company Limited (AIRA) have estimated that the SET index should reach 1,750-1,820 points this year. Meanwhile, Kalin Sarasin, Chairman of the Board of Trade of Thailand (BTT), called on the newly-elected government, expected to take office within one month, to facilitate the relocation of more foreign direct investment (FDI) projects to the Thai economy, while maintaining the projection of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) that the Thai economy should grow by about 4 per cent year-on-year on aveage in 2019 and the country's exports should expand by about 4-6 per cent year-on-year. Supant Mongkolsuthree, Chairman of the Federation of Thai Industries (FTI), then told journalists that JSCCIB is likely to review its forecast of the country's gross domestic product (GDP) and export growth in 2019 in July, proposing that the newly-elected Thai administration accelerate negotiations and the conclusion of more free trade agreements (FTAs) with trading partners and attract more FDI projects into the Thai economy to further boost the national economic growth and exports. (TNA)