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Pointers on current political situation

Ringing endorsement for Prayut government from the business sector

Ringing endorsement for Prayut government from the business sector

BANGKOK: — THE BUSINESS SECTOR has given the Prayut government a ringing endorsement for its economic performance over the six months since the May 22 coup.

But its has urged the government to activate a long-term economic stimulus plan and for state agencies to collaborate more.

Vallop Vitanakorn, vice chairman of the Federation of Thai Industries, gave the government eight out of 10 for its handling of the economy because it had tried to introduce stimulus measures to help spur economic growth.

He said the federation and the private sector understood that was a difficult job given the sluggish world economy.

“I am satisfied with their economic performance despite the delay in the stimulus package, and the private sector understands that the delay was caused by the buying and hiring process because such a process requires transparency,” he said.

“This government is trying to make it as transparent as they possibly can. The economy would have been worse if the government did not come up with any stimulus measures at all.”

Vallop expects the buying and hiring process of the stimulus package will be done by December and real capital should enter the economy by the first quarter next year.

Pramon Sutivong, chairman to the Anti-Corruption Network, said he was very satisfied with government action against corruption.

He said the government had allowed representatives from the public sector to participate in meetings for deliberation on such things as budget spending and bidding for projects including the second phrase of Suvarnabhumi Airport, Blue Line’s mass-transit electric train, and mass-transit buses.

For the government’s anti-corruption policy, Pramon gave it eight or nine out of 10.

He said he expected to see the introduction of stringent laws against corruption with heavy penalties.

Agencies urged to collaborate

Prapas Tonpibulsak, chief investment officer of Krungsri Asset Management, gave the Prayut administration nine out of 10.

He said the government had focused more on economic structural change in the medium to long-term.

Pornsilp Patchrintanakul, vice chairman of the Thai Chamber of Commerce, gave the government eight out of 10 for its overall performance. “I’m quite satisfied with the government for its effort to solve short-term problems and bring the country back to a normal situation after we’ve encountered a protracted political impasse,” he said.

However, Pornsilp expects to see more promotional action economically in the long run.

Somkiat Anuras, vice chairman of the Thai Chamber of Commerce, said the private sector recognised the government was trying to solve the conflict while boosting the economy but was yet to see any serious collaboration among ministerial agencies.

“Each agency should closely collaborate with others to implement each policy,” Somkiat said.

“The government should set a priority for introducing proposed laws in connection to business to attract more investment for the country.”

Poj Aramwattanon, president to the Thai Frozen Foods Association, was also quite satisfied with the administration’s economic performance.

But he wants to see more long-term economic stimulus plans, better cooperation among state agencies, and more efficiency plans to boost export growth amidst an uncertain global economy.

Thanavath Phonvichai, director to the University of the Thai Chamber of Commerce’s Economic and Business Forecasting Centre, gave the government 7.5 for its overall performance.

Thanavath said the government’s economic-stimulus plan was moving in the right direction amid difficult economic circumstances.

He commended the government for paying rice farmers overdue payments, introducing the Bt1,000 per rai scheme, and passing the 2015 fiscal budget.


Source: The nation;