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Thaksin Optimistic About Thailand's Economic Outlook
Thailand's outlook will continue to be stable and the market assessment should be bullish in the near term once the reform programs are in place, said Thaksin Shinawatra, prime minister of Thailand, Wednesday in Hong Kong.
Speaking at the ongoing 2001 Fortune Global Forum in Hong Kong, Thaksin outlined the proposed medium-term economic and social program of putting Thailand back in business.
"The most important task of my administration is, first and foremost, to revive confidence and belief in the ability of the government to restore and reinvigorate the Thai economy back to a path of dynamic yet stable and sustained growth," the Thai prime minister said in his keynote speech at the forum.
Thailand's recovery will be reinvigorated by new policies to stimulate and maintain sustainable economic growth in the near term between 3.5 percent to 5 percent, he said.
Thaksin said the Thailand government currently must address the fundamental problems of the poor, and eradication of poverty is a major socio-economic policy objective.
The thrust of the government policy objectives is geared to revive and resuscitate the farmers and the village economy to generate domestic demand impetus at the grassroots, he explained.
The Thai government will strengthen the support of corporate restructuring and legal procedures by providing full financial and administrative support to the judicial process, the prime minister said, citing the progress being made in restoring financial sector health through non-performing loan consolidation at the Thai Asset Management Corporation.
Pointed out that the Thailand economy is at a critical juncture in a multi-year reform process, Thaksin said the government must create an environment and mechanism to encourage a new class of entrepreneurs, create new opportunities and provide new framework for the people to pursue their potential for a more prosperous and equitable society.
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