| Economic review YEAR - END 2010 |
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The V for victory might be abit premature, but the fact that Abhisit Vejjajiva still has a job is an accomplishment, given the year his government has had. Keeping that job will be the focus as the Democrat-led coalition heads toward an election in 2011.
The campaign has effectively begun already, with the announcement of the ambitious Pracha Wiwat programmeto liftupthe poor and provide the economic security many have lacked. Populist? Perhaps, though the Democrats insist they are making a long-term
investment and not delivering short-term handouts for the sake of votes.
Spending continue son other fronts to position Thailand as a more competitive economy in an increasingly challenging and volatile world. The economic signs are generally favourable, especially in Asia, for aneconomy that still depends heavily on exports. In the longer term, though,MrAbhisit and his policymakers realise that gettingmoremoneyinto local people’s pockets and creating a favourable climate for businesses to invest will be crucial.
The stakes are high. All sides in the coming campaign would do well to ditch their colour-coded rhetoric and offer the public a substantive and intelligent discussion of ideas. That way everybody wins.
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Looking closer to home
After a rough year, domestic consumption and investment are expected to take the wheel driving the Thai economy forward.
By Parista Yuthamanop
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Baht poised for more gains
Itmay well be the calm before the storm. The baht has eased since November after breakneck appreciation
in the previous two months.
By Parista Yuthamanop
Tax reform and the quest for balance
High on the agenda of Finance Minister Korn Chatikavanij is reform of the country’s tax structure as the first step toward achieving a balanced budget by 2016 or sooner.
By Wichit Chantanusornsiri
Passage of land tax still uncertain
Finance Minister Korn Chatikavanij has been committed to making the controversial land and building tax
bill a law since early in his term. The idea has been shelved for decades mainly because it levies tax based on the value of the assets.
By Wichit Chantanusornsiri |
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Riding the roller coaster
Local bourse suffered from political chaos in April and May but still enjoyed its best year since the 1997
crisis. More fun may be coming with the first steps toward full liberalisation just around the corner
By Darana Chudasri and Nuntawun Polkuamdee
Booming bond trend poised to continue
Trading volume in the local bond market reached record highs in2010 and the uptrend looks set to continue
with a significant expansion inbond issues by both the public and the private sectors in 2011.
By
Nuntawun Polkumdee
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Banks look beyond borders
Regional growth and the Asean integration scheme are expected to offer new banking opportunities.
By Somruedi Banchongduang
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Tisco depends on niche, regional growth
Size does not matter for a small bank, insists Tisco Bank. With the arrival of the Asean Economic
Community in 2015, the domestic market willbecomewide open,welcoming foreign banks with strong capital to spur market competition.
By Somruedi Banchongduang
Strengthening the national safety net
A new tax perk is poised to give the insurance industry a big boost.
By Charoen Kittikanya
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An invaluable lesson
The Map Ta Phut impasse claimed quite a few casualties but was the catalyst for desperately needed change, and Thailand has emerged stronger from it.
By Nanchanok Wongsamuth and Nareerat Wiriyapong |
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Rough waters ahead
With exports challenged by the strong baht and fragile global economic recovery, a repeat of the torrid
growth of 2010 is unlikely.
By Phusadee Arunmas |
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Fast track to prosperity
With the endorsement of two rail lines, Thailand is poised to play its part in a regional transport
development push that is being strongly supported by China.
By Chatrudee Theparat |
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Plenty of work, too few hands
Thailand’s industrial sector is poised for a boom, but progress could be derailed as many companies
find themselves increasingly unable to fill their job slots.
By Nareerat Wiriyapong |
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Farmers endure triple threat
Drought, flooding and bugs curb output of some key economic crops, but lessons learned can be applied
to improve land and water use in the years ahead.
By Walailak Keeratipipatpong |
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Momentum continues
Businesses are willing to plough money into Thailand for the future but the baht and higher wages
and rates are their major concerns.
By Nanchanok Wongsamuth
Still some catching up to do
The government’s new scheme to persuade multinational companies to set up bases in Thailand is proving
ineffective, as many of the incentives offer less than before and the overall package falls short of what
neighbouring countries offer.
By Nareerat Wiriyapong |
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Moving into overdrive
Industry thriving on domestic and export fronts, led by strong consumer interest in smaller passenger cars.
Authorities are also tweaking taxes to encourage more ventures.
By Santan Santivimolnat |
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Bubble, what bubble?
Local market continues to grow, sustained by strong demand for budget condominiums that lure even
the biggest players.
By Kanana Katharangsiporn |
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Blame it on the riots
Tourism operators shrug off another challenging year and start looking forward to a better 2011
By Chadamas Chinmaneevong
Strong baht a boon for outbound travel
Although political problems hurt Thai tourism in 2010, the outbound tour business still has bright prospects.
By Chadamas Chinmaneevong |
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Same old hangup
3G came to Mount Everest and 4G to Hong Kong, but Thailand still awaits a new regulator while the usual
political power games carry on behind the scenes.
By Srisamorn Phoosuphanusorn |
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Down, then up again
A plethora of problems beset the industry in 2010, but it has weathered them better than expected, and
the outlook for 2011 is bright.
By Pitsinee Jitpleecheep |
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So far, and yet so near
Ad industry’s long effort to reinvent itself is slowly bearing fruit with the emergence of new media
that open the doors to effective one-to-one pitching.
By Prapasri Vasuhirun |
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A creative push
The government is forging ahead with its plan to shift the growth engine from
exports and manufacturing despite criticism.
By Phusadee Arunmas |
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What to watch in Asia in 2011
Political risks loom on several fronts,
write Andrew Marshall and Daniel Magnowski |
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