Danish Delegation Briefed on Expanding Thai Economy

The largest ever business promotion of Denmark in Thailand kicked off yesterday with a briefing of the current economic situation in Thailand by National Economic and Social Development Board, predicting a slowdown of the economy to only 3 to 4 per cent growth next year.
With the US, EU and Japanese economies expected to have a negative growth, Thailand will be among the Asian countries where the growth will remain positive, although slow down, Senior Advisor of the NESDB Porametee Vimolsiri explained to the representatives of the thirty one participating companies.
“This year, we expect to end on 4,5 per cent growth,” Porametee Vimolsiri explained.
The briefing was organized by the Federation of Danish Industries and moderated by Hans Peter Slente, Director of International Trade & Market Development of the Federation of Danish Industries.
Prior to the briefing on the current economic situation, the Board of Investment had briefed on the many special incentives that are currently being offered to stimulate further foreign investment inflow to Thailand.
Deputy Secretary General Sudjit Inthawong focused in her presentation especially on the energy sector, where huge Danish investment in the wind energy sector last year brought Denmark up among the leading nations investing in Thailand.
“Currently, we are considering to extend full BOI privileges also to the tourism and real estate sector,” said the Deputy Secretary General, which would allow projects under BOI to own the land they develop 100 pct.
None of the speakers touched on the unpredictable political situation unfolding outside, where anti government protesters had in the morning first besieged the parliament and next went on to set up camp outside the makeshift government house set up in the old International Airport in Don Muang north of the capital.
Earlier in the day, Danish Ambassador to Thailand, Michael Sternberg had briefed the accompanying press delegation on the political landscape, grouping the activists into “yellow shirts” and “red shirts” for simplicity reasons to give the journalists an idea of the situation.
His expectation of the future was that the ruling People Power Party would be convicted of election fraud next month after the birthday of HM The King. This would lead to the dissolution of parliament and a new election, where many of the politicians currently in power would regroup under the new party Puea Thai to carry on the fight for a return to the previous constitution and ultimately the eventual return to power of former Prime Minister Taksin Shinawatra, who was overthrown by a military coup on 19 September 2006.

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