SET:Thailand's economic fundamentals remain strong

BANGKOK, July 18 (TNA) - Thailand's economic fundamentals remain strong, attracting considerable capital flows into the Kingdom. Dr. Pakorn Peetathawatchai, President of the Stock Exchange of Thailand (SET), made the remarks in Bangkok on Thursday, in response to the country's rising fund flows, in which capital inflows have outpaced capital outflows lately. "The Thai economy, which is not very large but has kept expanding, has attracted capital inflows and has been observed more easily, when compared with larger foreign economies", Dr. Pakorn explained. Dr. Pakorn told journalists in the coming months if capital outflows would outpace capital inflows, as the Thai baht has started to depreciate, it would not be a matter of any serious concern, thanks to the strong fundamentals of the Thai economy. The SET president assessed that measures implemented by the Bank of Thailand (BOT) to prevent and deal with the speculation of the Thai currency should not seriously affect capital inflows, as foreign investors could maintain their investment funds in the Thai capital market, through holding low-risk government bonds or other debt instruments, apart from holding shares in the Thai stock market. The SET president, meanwhile, called on the new Thai government to carry on mega-infrastructure investment projects to further boost the national economic growth. The new Thai administration, also headed by Prime Minister General Prayut Chan-ocha, has already taken office after the prime minister, who is also now defence minister, led his new Cabinet to be sworned in before Their Majesties the King and Queen in the capital earlier this week. (TNA)