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CHAROEN POKPHAND

CP Group backs Govt's borrowing plan



The government's plan to invest Bt1.43 trillion in the next three years is necessary to boost the economic recovery, said Ajva Taulanonda, vice chairman of Charoen Pokphand Group (CP).

 At a media briefing on Tuesday, he said that as irrigation system improvement as well as other infrastructure projects would require upto Bt200 billion of the amount, this would pave way for further improvement in the food production and agriculture. Thailand is in a good position to supply food to the world, he said, but that requires a development master plan for the next 10-20 years to increase Thailand's competitiveness.

   Ajva supported the government's plan to guarantee agricultural prices, which would replace pledging programmes. Yet, this requires the thorough registration of farmers to ensure even benefits. 

 He also commented that the baht, at Bt34-Bt35 per US dollar, is too strong. Meanwhile, he is confident that the inflation contraction of 3.3 per cent in May would be temporary, as this is contributable to the temporary government measures.



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