FTI eager for progress on govt mega-projects
Play
The Federation of Thai Industries has urged the government to move ahead with its investment programmes to stimulate the economy, as a slowdown would hurt the private sector's financial performance in the latter half of the year.
FTI chairman Payungsak Chartsutipol said the government should speed up its investment on the Bt350-billion water-management project and the Bt2-trillion infrastructure programme.
If the investment plans pass the legal process, the projects should be executed swiftly so that business opportunities will not be lost, he said.
Exports, which contribute about 50-60 per cent of Thailand’s gross domestic product, remain a mechanism for the country’s economy, he said, adding that if all cooperated to lower obstacles, exporters would be better placed than those in other countries. The current exchange rate of about Bt31 per US dollar is acceptable for exporters, he said.
Vallop Vitanakorn, FTI vice chairman, suggested that the private sector closely monitor the economic situation in the current second half.
Enterprises should reduce costs to help ensure survival while the estimate for export growth this year is below 3 per cent, he said, noting the slowdown of global demand. Thai GDP growth is expected to be 4.3 per cent this year.
Vallop suggested promotion of border trade to help improve the export situation.
