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Can Internationalization of the Renminbi Succeed where Internationalization of the Yen Failed?

Thailand’s 2010 GDP growth is projected at 3.5%, driven by domestic demand. In the context of weaker global demand in 2010, exports will grow modestly, but the restocking cycle and slow rebound in investment also imply a pick-up in imports, which results in muted net external demand. Public and private investment add 0.8% point to the growth rate, while normal stocking patterns provide a boost to growth of 1.5 % points . Thailand’s Household consumption picks up modestly, adding 0.8 percentage point to the growth rate, whereas public consumption decelerates from 2009 levels but still adds 0.4 percentage point.

Social and political stability

Thailand is a foreigner friendly and welcoming Buddhist country. The country’s form of government is a constitutional monarchy, with a high reverence for the Thai Monarchy, and devotion to the teachings of Buddhism. And although the vast majority of the people in Thailand are Buddhist, all religions are welcome, and His Majesty the King is the patron of all religions.

Thailand’s Growing economy

Economically, this country of 65 million people is characterized by steady growth, strong exports and a vibrant domestic consumer market. Abundant natural resources and a skilled and cost-effective work force help attract foreign investors, and enable them to prosper and develop industry in Thailand.

Sufficient infrastructure

Thailand has good infrastructure with modernized transportation facilities, as well as upgraded communications and IT networks that ensure optimum business and living conditions. State-of-the-art industrial estates boast sophisticated facilities and superior services.

Thailand’s geographical advantage favors transforming Thailand to be the energy hub of the region

The course of Thailand’s electricity industry development has set forth a goal of greater efficiency – both on the supply side and demand side. The aim is to ensure the optimization of energy resources and minimization of environmental impacts, with an ultimate goal of sustainable energy development. On the other hand, the industry has also had to properly adjust to economic and social changes as well as national energy policies and strategies over the past decades.
For some time, the government has encouraged more private participation in the electricity generation business in order to reduce the public investment burden and enhance greater competition in the industry.

In compliance with the national policy, EGAT established and listed the Electricity Generating Public Company Limited (EGCO), the country’s first independent power producer (IPP), in 1992 to mobilize funds from the stock market for its power investment, followed by the privatization of Ratchaburi Electricity Generating Holding Public Company Limited (RATCH), EGAT’s subsidiary founded in 2000.