BOT can only do its part: Prasarn

 

In his speech on “Navigating through Volatility with Long-term Focus” delivered at the Association of International Banks (AIB) Dinner Speaker Series on July 29, he said given Thailand’s structural shortcomings, there is the need to 

improve Thailand’s infrastructure and productivity, by improving technology and innovation.  The well-being workforce and quality of education and training are also crucial to increasing competitiveness

"For this, long-term coherent vision and concerted efforts among all stakeholders, both public and private, are needed," he said.

He noted that Thailand is now challenged by both external and internal risks, but these could come with opportunities if Thailand is prepared to collectively to cope with uncertainty in the global economy. 

"In an increasingly volatile world, we must do more. Our efforts should not be just about coping with short-term fluctuations, but also about laying long-term foundation for Thailand’s future. That requires a forward-looking plan of action by all stakeholders. The Bank of Thailand, for our part, will continue to ensure a stable financial and economic environment, so that businesses can continue to thrive and individuals can enjoy better standards of living on a sustainable basis," he noted.

In the speech, he said that current situation in the US, Japan and China is three major factors that influencing the global economy.