Thaksin’s 14 point vision for the Thai economy
Going back to 'Thaksinomics 101"
The former Thai prime minister Thaksin Shinawatra proposed a 14 point plan to improve the Thai economy, which is currently sluggish and heading for a possible recession. Thaksin publicly proposed the reforms to his daughter and now prime minister Paetongtarn Shinawatra and members-designate to the new cabinet last Friday.
Thaksin’s people centric plan is orientated around the people and SMEs. Its also ‘Thai-centric’ in promoting sports like Muay Thai to the world (it was an Olympic demonstration sport in Paris). Thaksin has also suggested a move towards ‘small government’, by reducing the size of the civil service and make it more productive. He proposes building infrastructure that people will see and directly benefit from.
Thaksin’s proposed reforms are summarized below:
1. Restructure household and business debts. The Finance Minister must discuss with the Thai Bankers’ Association how to resolve this issue, which is the top priority for the government.
2. Coordinate with the Bank of Thailand in setting economic policies, to ensure that monetary and fiscal policies align, while respecting the central bank’s independence.
3. Restructure Thai industries to focus on data centres and green energy, the latter helping to reduce electricity costs for the public. Thailand should also seek more technological support from China regarding electric vehicle manufacturing and telecom satellites, for which Thailand can serve as a launch station.
4. Boost SME’s competitiveness by promoting locally made products and intercepting influx of ultra-cheap imports.
5. Increase soft power promotion efforts, such as by organising a Muay Thai league with standardised training and regulations, as well as organise more e-sport and fashion show events.
6. Reform the agricultural sector, using research and development to boost the quality and make the prices more competitive. This will strengthen the country’s food stability and enable Thai products to compete in the global markets efficiently.
7. Enhance the tourism industry to generate more revenue, including expanding the runways of Suvarnabhumi Airport, improving airport facilities, and revising airport regulations to facilitate more private jets.
8. Promote investments in entertainment complexes. As casinos will only be accountable for 10% of the space in each complex, Thailand must attract investors in other related businesses, including theme parks and hotels. Thaksin reckoned that each complex in Bangkok will require up to 100 billion baht of investment and 50 billion baht in the provinces.
9. Start large-scale investment projects, such as flood and drought prevention initiatives, land reclamation projects, expansion of the metropolitan area, and development of marine tourist attractions. These projects must start within 3 years of this government, and will be continued if it wins the next general election.
10. Make Thailand a global financial hub, by inviting overseas banks to invest in Thailand and allowing Thai banks to establish branches in other countries. Thailand can also study the strategies of Dubai and Singapore and adapt to increase its financial strength.
11. Improve the measure to extend foreigners’ land lease to 99 years. Thaksin proposed that the land owner transfers the title deed to the Treasury Department, which will serve as a middleman to rent the land to foreigners. After 99 years, the land would automatically become state property, eliminating the concerns that foreigners could take away the country’s land.
The former premier also suggested additional regulations for the land to be rented to foreigners, such as prohibiting the use for agriculture, but allowing the building of affordable condominium projects targeting Thai buyers. The move would allow more Thais to conveniently own a home in which they can live in for 99 years.
12. Monetise the underground economy. Thai people spend around 3 trillion baht per year on online gambling, and are losing around 170 billion baht annually. This money can be taxed at 30%, and earmarked for funding overseas education for children, or hiring experts to teach at local schools.
13. Expand the Vayupak Funds. The state-owned securities funds should focus on purchasing stocks in the SET 50 and SET 100 lists that are undervalued.
14. Reduce the size of government agencies and reform the bureaucratic system. The outdated, cumbersome system can be enhanced by modern technology to improve speed and efficiency. Budgeting for government agencies should also be streamlined to eliminate unnecessary expenses.
The key behind the above plan is making Thailand competitive once again so its exports can be ‘kick started again. Thaksin’s plan clearly is hinged upon developing SME growth.
Thaksin said he plans to retire. However, his presentation last Friday indicates he will be a close and visible adviser to the government.
The future of Pheu-Thai relies upon how it will manage the coalition and deliver benefits to the people.
The nation now has a clearly laid out plan that is easily understandable.
Subscribe Below:
Whatever Bolehland punters and dumbwits and assorted good for nothing arsewipes (or your left trotter) may say about the Thaksins and Thailand, their country do often produce not too few fair and good looking women.
We can't match the Land of Smiles or Tom Yam Country, we just have really ugly, fat, unsmiling, thick-looking women, even if we would go defensive and say looks don't matter. Unfortunately for our fcuking politicians, looks do matter especially in the absence of the quality the educated would go for. Ugliness plus dumbfcuk stupidity, ignorance, inability, lack of wit, lack of worth etc do not add to anything than sheer disaster for our already fcuked-up country.
To make it worse, our politicians have wives seemingly picked for their ugliness. Voters do get impressed by the look of the wives even if the combined force adds nothing to the equation.
Thai political women are often well-educated. By that I mean in decent local universities the like of which our sh*thole "universities" cannot compare to. Very often Thai politicians are educated abroad in rather decent universities too.
Our monkeys can say plenty and all about Thailand but it will be a waste of energy and always show up our serious flaws, for everything that our monkeys say, we are guilty of worse. Nobody would bother listen either when our ugly monkeys say it.
Btw, our hordes of airlines stewardesses are also fcuking ugly. On top of having haughty but coarse and common manners.
Good looks matters. Even when you choose cars. Do you want your women to look like the back of lorries and behave like Mamakthir's fcuking Protons? And shrouded in bedsheets making them look like tents of sausages? Don't answer, please, I haven't forgotten you uncultured monkeys have poor taste and no taste, you like your portions big and food cheap, thank you!
How Thanksin planss to achieve any of these plans can be reduced to one word. Kleptocracy. Lee Kuan Yew described him as being corrupt (over the mobile phone networks acquisition). He and his sister stole between US$20-27 billion and how it is he is allowed to return and walk free with relative impunity is reflective of the dysfunctional monarchy and the mindset of the Thai people. Improve tourism would be to recruit more high school girls into the flesh trade in Patpong then turn them over to desperrate white middle aged men from the west. A good business but tthats how it has been since the Vietnam war. Thailand is a brothel where no laws are enforceable against those with money and connections.