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Thailand is a country in transition. It was just three years ago when a coup replaced head of state - Prime Minister Thaksin Shinawatra. Since then, the country has remained challenged. Most recently in April, Prime Minister Abhisit Vejjajiva declared a state of emergency after attempts to topple his government.
Now Prime Minister Vejjaviva has brought his case to New York, telling investors the Thai economy has already bottomed out.
He dropped by the New York Stock Exchange and talked with Maria Bartiromo about the country's recovery. Vejjjajiva told Bartiromo, "we have put in place stimulus packages which are on track, on time, and with investing not just in jobs, but also increasing competitiveness of the economy." Thailand's stimulus plan has a price tag of $42 billion over the next three years. That's equal to one percent of their GDP this year.
Vejjajiva said "the government is ready to support the private sector in Thailand, which is now ranked 12th in terms of business facilities among 183 countries by the World Bank."
Thailand's economy has faced two challenges: the global financial crisis and domestic political turmoil. Yet the administration's addressing these issues. The Prime Minister told Bartiromo "the administration is on the right track both in building national reconciliation and boosting economic revival, headed."
Heading to Pittsburgh for the G20, Vejjajiva will represent Southeast Asia nations at the Chairman of the ASEAN. Indonesia is the only other SEA country in the G20.
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