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Wed, October 25, 2006 : Last updated 20:29 pm (Thai local time)



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Home > Business > Govt to stress sufficiency economy





Govt to stress sufficiency economy

The new government will uphold market mechanisms in its economic policies, but good governance will be instilled under the philosophy of sufficiency economy to ensure economic fairness and minimise conflicts of interest as well as personal interests.

The government is expected to clarify the sufficiency economy philosophy, which has created confusion among foreign investors who mistakenly believed that under the concept, the Thai economy would look inward. Rather, the concept highlights good governance as a means of regulating development in a market economy.

Among the policies which will be put to the National Legislative Assembly this week, the government will emphasise the importance of development in the agricultural sector, which will include the continued promotion of the One Tambon One Product scheme, initiated by the Thaksin government.

The government promises to proceed with "mega-projects", with a focus on those ready to be implemented. The priority will be projects that offer more efficient logistics and energy conservation, as well as flood-damage and drought alleviation in key economic areas. The government promises to prioritise the investment plan within three months.

Meanwhile, to boost competitiveness, the government plans to map out a master plan on intellectual infrastructure within six months. Its rationale is that despite investment in economic infrastructure, Thailand remains less competitive than rival countries.

The government also plans to introduce a project to increase "economic immunity" by highlighting both efficiency and economic figures (through the gross domestic product). A national efficiency promotion plan will be drafted jointly with the private sector and is set to be complete in six months.

Last but not least, the government will draw up a master plan on telecommunications resource development to ensure greater use of telecommunications by the public, and to enhance the public's political education.








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