October 4, 2008
Bangkok - The government was called to better prepare for another round of the sluggish economy. A plan was proposed to protect Thailand against the financial crisis.
Measures include better supervision of the financial sector, new methods for setting interest rates and investment stimulation packages at home and abroad, according to AFP.
"The (Federation of Thai Industry) proposed its suggestions for the finance ministry to consider. They aim to help resolve the problems of an economic slowdown," Finance Minister Suchart Thada-Thamrongvech told reporters following his meeting with federation representatives.
The meeting was to promote cooperation between the government and private sector.
"But the government has to have a further meeting to consider the suggestion," he added.
The eight-point action plan was proposed, and measures included restoring consumer confidence, lowering business taxes and granting import tax exemptions for green goods.
The luxury market tended to be most affected by stumbling economy, according to FTI president Santi Vilassakdanont.
Political situation was said to affect the country’s economic condition. The tourism sector was also hit by the emergency decree imposed in Bangkok for two weeks.
