Gist of Prime Minister Abhisit vejjajiva's Keynote Address
at the Foreign Correspondents Club of Thailand (FCCT) Dinner
"Meeting the Challenges of Change"
Bangkok, 14 January 2010

(Introduction)

          • PM Abhisit noted that it is important for Thai leaders, who pride themselves for being in a country which is open and well integrated with the international community, with exports, tourism and foreign investment being essential parts of the economy, that they, as democratid leaders should be accountable, and be able to communicate, not just to its people but also to journalists and the rest of the world. He then expressed his pleasure to address the FCCT for the second time to talk about what happened in Thailand over the last year and how much progress the country has made. He further noted that his second presence at the FCCT dinner is significant, not for him personally but because it reflects how Thailand has put an end to the political instability that it has experienced for the last 3-4 years. 

           • The Prime Minister recalled the twin crises that the Government faced when he assumed office. The political crisis was at a point where people started to wonder if it was even possible to govern the country. At the same time, the country was also facing challenges fr0m the global economic environment.

(Economic Recovery)

          • In discussing how far the country has come in term of economic recovery, PM Abhisit noted that at the beginning of 2009, people projected a very long recession, even a depression, in Thailand, and that the economy could contract as much as 9% for the whole year. With 700,000-800,000 being unemployed, it was assumed that unemployment could go up to 1-2 million. But today Thailand has a completely different outlook.

          • By the 4^th quarter 0f 2009, GDP growth has improved markedly as the global economic picked up. Exports increased by 17% year-on-year and there was a significant increase in the number of tourists during the second half of the year - with 1.6 million foreign visitors in December alone, enable the country to achieve the targeted 14 million. Unemployment was contained to less than 500,000 or a frictional rate of 1.1% of the workforce. The economy has resumed positive growth during its last quarter and is predicted to continue enjoying positive growth of at least 3.5% in 2010, which the Government is confident Thailand can achieve.

           • The Prime Minister stressed that in addition to addressing immediate problems, the Government has also been trying to 'restructure the Thai economy, Despite a slim majority in Parliament and political division, it was able to implement the first economic stimulus package, seen as unconventional at the time, within the first 2-3 months of assuming office, to sustain domestic economy. This included a free education programme and allowances for the elderly. Following the success of the first package in alleviating people's immediate economic difficulties, the Government followed it up with the second package, which will continue to be implemented over the next  2-3 years, to address medium- and long-term needs such as improvement of the country's infrastructure. All these are progress that has been made in turning the economy around and addressing issues that matter most to the poor.

          • The Prime Minister added that the Government is now solving the problem of the Map Ta Phut case, putting in place qecessary mechanisms and regulations with regard to the environmental and health impact assessment (EIA/HIA),public hearings and formation of an independent organization. The Government is also rebalancing environmental demand and economic growth and income creation.

         • PM Abhisit further said that structurally, the Government is addressing the issue of distribution, The first stimulus package and other measures that follow have been aimed at addressing issues that matter to the poor. But rather than on an ad hoc basis, the Government aims to create a system of welfare for all people. The Government is also addressing the issue of crop prices by replacing the old system with one that is market-friendly and fair for farmers.

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Gist of Prime Minister Abhisit vejjajiva's Keynote Address at the Foreign Correspondents Club of Thailand (FCCT)