Finance minister positive with 2010 economy, stock trade

BANGKOK, 18 January 2010 (NNT) – Finance Minister Korn Chatikavanij is optimistic with the trend of the Thai economy and stock market this year due to the attempts and measures implemented by the government to stimulate the economy.

Speaking in a seminar on 2010 trends of the economy and stock market at the Stock Exchange of Thailand on Sunday, the minister cited the improving economy and healthy trade in the stock market due to stimulus packages of the government. He noted the improvement of index from about 400 to be around 700 at present as a result of many positive factors.

Mr Korn then indicated that national exports had been improving since December last year while many institutions forecasted the 2010 economy to expand to more than 3% in positive territory. He also elaborated that there is rising value-added tax collection from more consumption from private sector upon purchases of cars, motorcycles, and other goods.

In addition, the minister reported that the tourism sector has significantly improved after the number of tourists to Thailand had been increasing since last December. Meanwhile, financial institutions targeted to expand their loan approval rate to more than 10%.

Mr Korn stressed that the government would emphasize good governance to facilitate investors along with the stimulus packages of the government to ensure confidence of investors. He however admitted the domestic politics and Map Ta Phut industrial estate problems as main parameters in shaking the confidence of investors.