BANGKOK, 2 June 2015, Mr. Praphat Phothiworakhun, Chairman of the Board and Chairman of the Executive Board of Kang Yong Electric Pcl, has said that consumer and investor confidence have improved, but remains stifled by the political situation and global economic slowdown.
Mr. Praphat, who is also a former President of Federation of Thai Industries, stated that Thailand’s export sector shows signs of improvement, thanks to the economic recovery of its trade partners and the baht’s depreciation. Thailand’s trade partners include Japan, the European Union, and Asian countries such as China and ASEAN member nations.
He strongly believes that the local economy and the export sector would perform significantly better from the third quarter onward, pushing the growth of the appliance industry.
Mr. Praphat urged the government to be more firm in its economic stimulus policies, in order to improve the sector.
He also voiced his opinion that the benchmark rate should be reduced with great care. Mr. Praphat said the previous adjustment, which decreased the rate by 0.5 percent, might affect the income of some Thais, such as senior citizens who rely heavily on their bank savings.
