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 Trade
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21 Dec 06 11:01
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2007 export target unchanged at 12.5%
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TNA
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BANGKOK, Dec 21 - Despite the strengthening of the Thai baht, export growth target for 2007 set by the Commerce Ministry still remains unchanged at 12.5 per cent, Commerce Minister Krirkkrai Jirapaet said Thursday.
So far there will be no revision in the export growth target, Mr. Krirkkrai said, because the ministry had earlier assumed that the Thai currency would remain strong at Bt37 against the dollar.
However, the target could be revised in the next two to three months depending on how the financial picture unfolds, he said.
Exports in November totalled US$11.7 billion, up 20 per cent from the corresponding period last year. Exports during the first 11 months of 2006 grew 17 per cent from the same period of 2005 to around US$118-119 billion.
Risk factors which might impact Thailand's exports in 2007 include global oil prices and volatility of major currencies. (TNA)
Central bank move has psychological effect on property sector
BANKGOK, Dec 21 - The Bank of Thailand's 30 per cent capital reserve requirement has negatively impacted the property sector in terms of investment sentiment and confidence, according to an industry executive.
Dan Tantisunthorn, Chief of Jones Lang LaSalle (Thailand) Research Division, said he was uncertain whether the mandatory reserve would be imposed on foreign investment in condominiums deemed as investment for speculation.
In the present circumstance, he said, foreign investors planning to buy condominiums for investment, are lacking confidence and are hesitant to close the purchase.
In actuality, he explained, property investment will be on a longer term than investing in the stock market. So, it should not be affected by central bank measures to stem the baht speculation.
But realistically, the property and capital markets are interrelated in one way or another.
Mr. Dan said he believed the central bank's move to impose the reserve requirement abruptly would cause questions among investors and developers of property projects as to whether the BoT will come up with more surprise measures. (TNA)
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