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| CP Group Chairman Suggests Ideas to Solve Thailand's Econ |
| UPDATE : 2 June 2008 |
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An executive of Thailand's largest agricultural conglomerate suggests ideas for solving the country's economic crisis, including increasing workers' salaries and implementation of price support measures for farm products, without fearing inflation.
Chairman and Chief Executive Officer of Charoen Pokphand or CP Group Dhanin Chearavanont made a speech during a seminar at the Dusit Thani Hotel in Bangkok today.
He advised the government to support an increase in farm product prices as well as workers' salaries because the measures can boost the domestic economy. Furthermore, they will not harm the country's inflation rate. He said inflation means that an individual can not afford products because their selling prices are too high.
Meanwhile, Dhanin added that the policies could develop the public's living standard. However, these two factors should not be maintained at low rates as the country would not succeed in improving the economy. He said even communist countries like China and Russia have also implemented a boost in wages and agricultural product prices.
The CP Group Chairman questioned why farmers have remained poor, even though this golden age for agriculture at the moment is causing the price of rice to climb. He proposed the government should seek cooperation with other rice-exporting countries, including Vietnam, China, and India, to reinforce the bargaining power among the group by setting selling prices of the product, and by speeding up investment in water-resource management to improve the farming industry.
Currently, Thailand ships rice to overseas destinations at a rate of nine million tons per year, compared to the world consumption of rice which is over 400 million tons per year, and this number is likely to grow following an increase in population.
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