The Commerce Ministry plans to proceed with creating a domestic market network as well as an export market for Thai fruit. Commerce Ministry Permanent Secretary Yanyong Puangrat said after presiding over the third Northern Provinces Fruit Fair at the Century Department Store that he is confident the next government will help the Thai fruit trade develop further.
Ministry to Set Up Thai Fruit Market Network
A severe drought and a decline in rice prices in early 2010 do not bode well for agricultural production and consumption, although increased employment in manufacturing will partly offset the impact to agriculture.
However, the upside is limited due to political and regulatory uncertainty, including from possible political violence and the Map Ta Phut court case. The government investment plan is proceeding at a slow pace, but public investment should contribute to growth.
In any case, Thailand’s strong rally in 2009 should still be considered in context.
Many Thai companies don’t even really need to be in the market, with only a limited need to raise capital.
In 1972 the Government took a further step in this direction by amending the “Announcement of the Executive Council No. 58 on the Control of Commercial Undertakings Affecting Public Safety and Welfare”. The changes extended Government control and regulation over the operations of finance and securities companies, which until then had operated fairly freely. Following these amendments, in May 1974, long-awaited legislation establishing “The Securities Exchange of Thailand” (SET) was enacted. This was followed by revisions to the Revenue Code at the end of the year, allowing the investment of savings in the capital market. By 1975 the basic legislative framework was in place and on April 30, 1975, “The Securities Exchange of Thailand” officially started trading. On January 1, 1991 its name was formally changed to “The Stock Exchange of Thailand” (SET).