By k on January 2, 2010

BANGKOK, Jan 2 (TNA) — Despite signs of improvement in the global and Thai economies in 2010, the Bank of Thailand (BoT) has warned the private sector to use caution when doing business deals as risks and an uncertainty continue to be negative factors.

BoT deputy governor Bandid Nijathaworn said volatility in the money market may persist this year, noting that the central bank will intervene if necessary to prevent obstacles from occurring. It is still necessary for the private sector to adjust in the uncertain business climate.

“There are positive signs for the economy in 2010, but we shouldn’t become reckless because uncertainty still prevails. The private sector should do business with caution,” Mr Bandid said.

The private sector must depend on itself as it also must manage costs efficiently.

Financial costs are expected to rise after the government-sponsored economic stimulus package starts to run down and volatility in money market shows sign of increasing, he said.

The private sector cannot compete on the basis of cost-cutting alone. It must explore ways to expand trade and investment and prepare for business competitors from neighbouring countries who would open businesses in Thailand, Mr Bandid added. (TNA)

Related posts:

1. Private sector urged to brace for increased financial volatility BANGKOK, Jan 15 (TNA) – Thailand’s private sector should prepare...
2. Private sector urged to give more importance to nuclear power BANGKOK, 20 September 2009 (NNT) – A tripartite private sector...
3. PM calls on private sector to help restore the economy BANGKOK, May 30 (TNA) – Prime Minister Abhisit Vejjajiva on...
4. Private sector satisfied with Map Ta Phut progress BANGKOK, 4 February 2010 (NNT) – The private sector is...
5. No sign of bubble in property sector, says BoT BANGKOK, Sept 23 (TNA) – Bank of Thailand (BoT) assistant...

Related posts brought to you by Yet Another Related Posts Plugin.

Readers Comments