Recovery recipe discussed
Education, services sector the focus
Published: 16/07/2010 at 12:00 AM
Newspaper section: Business
The consensus emerged at seminar entitled "Thailand's Investment Environment: Looking Forward," hosted by the Joint Standing Committee on Commerce, Industry and Banking yesterday. Prime Minister Abhisit Vejjajiva opened the event with an address stressing the importance of full participation from all sectors in the reforms to narrow social and income disparities. The committee said that reforms of the service sector and education system will help Thailand address future challenges and compete better in the world economy. The share of services has increased in these countries but in Thailand it's on a decline. If Thailand wants to survive, it needs to grow the service sector faster. A recent survey showed foreign investment in the service sector in Thailand was among the lowest in East Asia due to restrictive rules. Actions should be taken to ease restrictions in the Foreign Business Act and to pass the Secured Transaction Act to use accounts receivable as collateral educational reforms, especially equal access to quality education for low-income citizens. Education would help combat corruption, which is the core political problem in Thailand. The chairman of the Federation of Thai Industries said educational reforms should be emphasized if Thailand is to reap the most benefits from Asian integration under the Asian Economic Community by 2015.

The conclusion of the sassiness leaders have the opinions that accelerating growth of the service sector and improving the quality of education should be the priorities for Thailand in driving its economic expansion and retaining its investment attractiveness

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