Milan: "Chulaphan" explains that ADB is confident that Thailand has investment potential. Mr. Chulaphan Amornvivat, Deputy Minister of Finance, emphasized this sentiment during his interview at the 58th Annual Meeting of the Asian Development Bank (ADB) held on May 5 in Milan, Italy. He highlighted that despite the current global economic volatility, which has led to a decline in global GDP, Thailand remains a promising destination for investment.
According to Thai News Agency, Mr. Chulaphan stated that countries within the ADB's cooperation framework continue to maintain strong relations with Thailand. He underscored the importance of fostering these relationships, particularly in the face of an unstable trade market. Discussions with foreign ministers from various countries reaffirmed confidence in Thailand's economic prospects, highlighting the potential for attracting investment. Mr. Chulaphan stressed the need for collaboration between the Ministry of Finance, Ministry of Foreign Affairs, and Ministry of Commerce to prepare and utilize relevant data effectively.
In response to inquiries about ADB's forecast on ASEAN's GDP decline, Mr. Chulaphan mentioned that the subject was addressed broadly. The ADB's data presented during the meeting indicated a general slowdown in economic growth across Asia and globally, not limited to Thailand. This downturn is attributed to the prevailing economic volatility. Although specific figures for Thailand were not provided, Mr. Chulaphan acknowledged that the country is also feeling the impact. Consequently, the Prime Minister has instructed a reassessment of the economic stimulus strategy to ensure the Thai economy grows adequately to satisfy the populace's needs.
Regarding immediate plans for economic stimulation, Mr. Chulaphan revealed that the Ministry of Finance, in collaboration with other ministries, is working diligently to formulate a comprehensive economic stimulus program. Next week, Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, is slated to convene a meeting to outline new measures addressing sectors like tourism, investment, and employment. These initiatives aim to swiftly align with the challenges posed by the current economic situation.
When questioned about the status of the digital wallet distribution, Phase 3, targeting 2.7 million teenagers aged 16-20, Mr. Chulaphan advised patience. With the new semester approaching, the project may experience delays beyond the initially scheduled date. He assured that the details are under thorough review, and updates will be provided once finalized.