Aim for more productive capacity, rely less on exporting

BANGKOK, 4 September 2009 (NNT) – Kosit Panpiemras, Chairman of the Board of Executive Directors of Bangkok Bank, indicated that Thailand should no longer rely on export and suggested that private agencies develop their productive capacity instead of importing for their sustainable capacity.

Mr. Kosit stated that the current economic crisis yielded more damage than the one in 1997. He said countries perceived the occurrence of this crisis on time and had launched measures to rehabilitate the economy. Mr. Kosit said the attempts to solve the problems were on the right track but noted that whether the economy would completely recover was still uncertain. In terms of the Thai economy, he suggested that the public and private agencies cooperate in developing the country’s productive capacity in order to reduce imports and propel economic growth.

He also believed that the government’s “Strong Thailand” scheme would be able to boost the Thai economy if the money was allocated effectively.