ID :
388750
Tue, 11/24/2015 - 10:19
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Private sector satisfied with new Thai government’s economic team

BANGKOK, November 24 (TNA) - Private business executives and bankers have expressed their satisfaction with performances of the Thai government’s new economic team after they have been in office for three months. Supan Mongkolsuthee, Chairman of the Federation of Thai Industries (FTI), told journalists on Tuesday that FTI has scored the government’s new economic team good to excellent for its fine performances, especially in assisting local small and medium-sized enterprises (SMEs) in both financial support and exploration new markets for them. Supan said the Thai government's new economic team, headed by Deputy Prime Minister Somkid Jatusripitak who took office after the latest Cabinet reshuffle in August, has also restructured the national tax system and launched overseas roadshows which have boosted confidence in the Thai economy among international investors. The FTI chief proposed that the Thai government develop the mass–market fourth generation (4G) online service and broadband networks to serve the local electronic commerce (e-commerce) system in order to further boost the national economy. Echoing the FTI chief's positive remarks was Yol Phokasub, President of Siam Commercial Bank (SCB), who pointed out that the new economic team's performance is crystal clear in various fields, with implementations left to bolster international investors'confidence in Thailand. Yol suggested that the Thai government also accelerate amending the digital technology law and the commercial law so that they would synchronise with each other. According to the SCB president, the Thai economy is foreseen to sustain a 3 per cent growth in 2016, which, if so, would be an advantage to the entire domestic banking’s lending system. Besides, the SCB president projected that local commercial banks' lending would grow by 3-5 per cent, while loans offered to local SMEs would expand by 5–8 per cent next year and personal loans by 5–10 per cent. (TNA)

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