Page 19 - ELITE PLUS MAGAZINE VOL9
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Do not overlookthe potential of the CLMV. The trade volume of this equals our exports to the US. The demand of Thai products is rising6 to 8% annuallyincluding cash and knowledge and organized capacity building.It is time for the government and investors to find new markets. In the past, the Thai export market relied on the EU, US and major trade partners in the Far East such as Japan and China. These face their own economic problems, with the possible exception of the US, now recovering from the so-called “hamburger crisis”.For Mr Kobsak, the most interesting market is the “CLMV” – Cambodia, Laos, Myanmar and Vietnam. “Do not overlook the potential of the CLMV. The trade volume of this equals our exports to the US. The demand of Thai products is rising 6 to 8% annually.”August was a month of change on the economic front. Somkid Jatusripitak replaced MR Pridiyathorn Devakula as deputy prime minister. Known for his prowess in economicstimulus, Somkid immediately rolled out a cash injection plan to put money in the hands of low earners and the middle class. Somkid also pledged to extend credit to small and medium-sized enterprises.Mr Kobsak fears the cash injection may be insufficient to reignite local spending, as cash recipients are mainly farmers. The money will be used to pay interest rates. He believes other measures are needed, such as hiring in local communities for projects like canal dredging.Better at jump-starting the economy would be government investment. Investors are waiting for government infrastructure projects such as high-speed trains and subway line extensions, water management infrastructure, logistic routes such as highways from Bang Pa-In in Ayutthaya province to Nakhon Ratchasima, the construction ofElite+ 17


































































































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