May 12, 2009
Bangkok (ASTV Manager Online) – The government was urged to promote Thailand as the Asian gold hub to attract trillion baht of funds.
Jitti Tangsithpakdi, president of the Gold Traders Association of Thailand, said the association proposed the plan to develop Thailand as the Asian gold hub four years ago.
The plan was submitted to the previous government who gave no response.
Under this plan, Thailand will have to boost its competitiveness against Hong Kong and Singapore.
Jitti also said that the private sector could not attain such goal alone since some laws needed to be amended to enable gold tax exemption as well as forex liberalisation.
The gold trading hub would take shape in three years if the government supported the project.
However, Jitti admitted that it would be better to go ahead with the plan when the politics was more stable.
Gold Futures is currently offered as a channel to invest in future gold, attracting investors who are keen on gold investment.
