DPM:Thai consumers will benefit from AEC

BANGKOK, August 1 (TNA) - Thai Deputy Prime Minister and Finance Minister Kittirat Na-Ranong says that local consumers will benefit from the establishment of the ASEAN Economic Community (AEC) by 2015, in terms of more diversified goods and services offered in the region. During his speech on Thailand's opportunities in the AEC, Kittirat pointed out on Wednesday that foreigners can hold up to 70 per cent stakes in local businesses, after the Single Economic Community of the Association of Southeast Asian Nations (ASEAN) is formed, from 50 per cent presently; while the Thai market will also more open for business operators from other ASEAN member countries, resulting in local consumers benefiting from more choices of products and services. The deputy premier, who oversees Thailand's economic affairs, urged local private business operators, including small and medium-sized ones, to adjust themselves to cope with the regional change. The Thai deputy premier acknowledged, however, that the local financial sector will not be immediately liberalized, like others, after the AEC is established. Meanwhile, Thai economic ministers discussed national economic conditions in the first half of this year, viewing that the Thai economy remained as satisfactorily strong in the first six months of 2012, as factories have resumed their production as planned, boosting domestic investment to grow by 15 per cent in the first half and tourism remained a main source of national incomes and a main driving force of the national economy. The Thai economic ministers foresaw that bright prospect of the national economy should continue in the second half of this year, amid a slowdown in the Chinese economy. (TNA)