Entrepreneurs Take Note! Yingluck’s vision on ASEAN AEC & ASEAN Connectivity

About US$70 billion is being planned by the Yingluck administration, on infrastructure, mostly, hard transportation investments such as road and rail, and also river transport.

KHON KAEN, 26 October 2013 (NNT) – Prime Minister Yingluck Shinawatra has visited the Thailand’s Future 2020 exhibition in Khon Kaen, where she shared her vision on the country’s future development through mega projects. The exhibition is being held at Anek Prasong Hall of Khon Kaen university, during October 25th-27th. During her speech, the Premier stressed on the importance of the mega projects, including how it could better the locals’ quality of life, and what Khon Kaen and its nearby vicinity stood to benefit. She elaborated that the economy would improve through better infrastructures, communications, and logistics system. The PM added the government had come up with a strategic policy aimed at improving the potentials of Thai entrepreneurs, enabling them to compete in the international market. At the same time, Ms Yingluck added, with infrastructures completed, Thailand would certainly draw in more foreign investors, which would help drive the economy in the long run.

Most analyst says ASEAN‘s AEC concept, with a target of 2015 is just a mile-stone, and that AEC will take more time. With that, the ASEAN’s AEC concept had been tarnished to some extent, but many are still committed to the concept. Khao Sod reports, “Prime Minister Yingluck Shinawatra today gave a keynote speech at the opening of the “Path for Thailand toward ASEAN Community” exhibition in Bangkok, saying in parts that the government must re-adjust policy to welcome the change, and should not treat the integration as a threat. According to the Prime Minister, Thailand must develop new strategies, particularly by public sectors, to create more competitiveness in the region and improve the standard of living in Thailand. By creating competitiveness in the region, Ms. Yingluck suggested that Thai’s public sector should readjust regulations to support Human Rights and ease trade protectionism.  ”The country also needs to rebalance their government public services to be more efficient and effective, in order to develop the standard of living in Thailand” Ms. Yingluck is quoted as saying. The Prime Minister also said that the wobbling global economy may become a challenge to the country. The US Quantitative Easing policy had strengthened national currency, due to large capital inflow into the country.

However, the situation has worsened the national export sector, which accounted up to 60% of national GDP. She stressed that Thailand should be ready for the economic fluctuation, both in domestic, regional and international stages.  ”The private sector will also need to adjust their policy and improve their competitiveness through providing a better quality of goods,” Ms. Yingluck said.  She also suggested that the country should rely more on green energy. Apart from the economic fluctuation, Ms. Yingluck noted, the nation is also facing a lack of capable workforce, as the elderly population is expected to increase from 14% in 2013, to 27% in 2025. At the end of her speech, the Prime Minister added that in order to be competitive in meeting the new challenge, and to live together peacefully, we must integrate our social and cultural aspects.  Thai people must also develop English skill, as the language becoming more important as the media to communicate within the region, she added.

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