These are: promoting offshore investment, developing logistics systems, increasing the efficiency of small and medium-sized enterprises (SMEs) and stabilising the currency and the political situation.

At a seminar yesterday entitled "Factors to Drive Thailand's Economic and Export Growth" organised by the Thai National Shippers' Council, panellists said businessmen should overlook negative factors and focus on positive factors that could boost growth.

Export Promotion Department deputy director-general Kunyaphan Raengkhum said although many negative factors influenced economic sentiment, private enterprises should be optimistic and concentrate on positive factors to improve competitiveness.

Despite the baht's appreciation, many positive factors remain. Firms should take this opportunity to invest more abroad, in order to make a surplus from the strong baht and benefit from exports.

Thai National Shippers' Council chairman Suchart Chantaranakaracha said many foreign and Thai investors were now adopting a wait-and-see attitude on how the economy would be driven by the government.

In a bid to boost economic growth, he urged the government to stabilise the value of the baht and decrease political uncertainty.

"The government should use a new measure to tackle currency speculators," he said, adding that the appropriate value of the baht was 38 to the US dollar.

Suchart added that focusing on the development of logistics systems would cut the costs of firms during a period of economic stagnation. Logistics costs represent 19-23 per cent of gross domestic product, while for many developed countries it is less than 10 per cent.

Industrial Promotion Department director-general Pramote Witthayasuk said the government was targeting support for SMEs, in order to increase their efficiency in competing internationally. This year, the government will provide up to Bt3 billion to help SMEs up efficiency. It will give about Bt5 billion to support SME-development projects next year.

Petchanet Pratruangkrai

The Nation