Finance Minister allays worries of soap bubble situation

BANGKOK, 23 September 2009 (NNT) – The Minister of Finance has rebutted fears of a new economic soap bubble situation, assuring Thailand still retains a competitive edge.

Finance Minister Korn Chatikavanij said the Thai economy has continually showed signs of recovery and has sharpened its competitive edge on the world stage. His remarks came in response to the Asian Development Bank’s (ADB) projections that Thai growth would be the lowest in the Asian region this year. He also objected to the ADB’s concerns of a new soap bubble situation, saying that the economy’s recuperation has been gradual and careful measures have been taken to maintain a safe economic climate.

Mr Korn added that during his visit to the UK he was able to meet with his British counterpart and foreign investors and received urgings for Thailand to more clearly outline its economic plans. The businessmen said that a clear plan would boost confidence but also pointed out positive sentiments towards Thailand, the minister added.