• 
• 

Export-Import Bank of Thailand chairman Narongchai, a former commerce minister, said the priority of the new economic advisory team is to focus on tackling rising consumer goods prices, which have hit people hard.

He said the advisory team must seek additional measures to relieve the people's burden and help low-income people.

However, Narongchai said he must wait for the formulation of the economic agenda and the meeting with other economic advisers, headed by Virabongsa Ramangkura.

Vallop Vitanakorn, secretary-general of the Thai Garment and Textile Manufacturers' Association, said the new economic team would improve the efficiency in economic policy planning and boost the government's image.

"I am confident that this team will help spur economic growth of the country and hope that they will work closely with all related government agencies to ensure that all economic policies will go ahead in the same direction," said Vallop.

He urged this team to focus on improving efficiency of private enterprises, in particular small and medium-sized enterprises, as they are the key units to drive the country's economic growth. The SMEs account for more than 70 per cent of total enterprises.

Moreover, he called for the new team to help improve foreign investors' confidence amid political disorder and seek ways to ensure stable financial policy.

Meanwhile, former commerce minister Mingkwan Sangsuwan warned of a new round of upward pressure of oil prices, which could affect economic growth and lead to rise in prices of goods.

Before taking over as the new industry minister, Mingkwan said he was satisfied with the outcomes so far, in the particular the robust export growth and moderate inflation at 6.6 per cent in the first seven months of the year, despite skyrocketing oil prices.

Pramon Sutivong, chairman of Board of Trade of Thailand and Thai Chamber of Commerce, said it was good to know the government had formed a team of economic advisers, which would create hope for private operators.

"We would like the government to pay more attention to solving the economic problems rather than focus only on political turmoil as in the past several months," he said.

However, political instability is still a main concern for the private sector.

Santi Vilassakdanont, chairman of the Thai Industries Federation, said new Industry Minister Mingkwan Sangsuwan should accelerate the fiscal budget as his top priority to help small and medium-sized manufacturers.

"In addition, Mingkwan needs to meet and convince executives of leading companies not to move their investments to other countries despite the murky political climate. It would be difficult for the Board of Investment to hit its target of Bt600 billion in investment applications this year," he said.

Commenting on the team of economic consultants appointed by Prime Minister Samak Sundaravej, Santi said private operators, particularly industrial manufacturers, are quite happy with the selected advisers because one of them was former Industry Ministry permanent secretary Manu Leopairote, who understands industry thoroughly.

Suchart Tharathamrongvech, newly appointed deputy finance minister, said Virabongsa Ramangkura wants to help.

Virabongsa has decided to join the Samak government as chief economic adviser to Prime Minister Samak Sundaravej because he wants to help the country, Suchart said yesterday. Virabongsa can earn a lot working for private firms, while he earns little money working for the government, he said.

"We should think positively towards him," said Suchart in response to criticism of Virabongsa and other advisers on the conflict of interest issue.