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Outgoing THAI chief on corruption

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Piyasvasti says plane purchase was so bad that planes could not fly because fuel cost greater than money made on flights. 



Photo above of  World Economic Forum (WEF) sign being put up (AFP Photo: Fabrice Coffrini).

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World Economic Forum

Corruption, red tape holding back growth

Piyasvasti says THAI plane buys wasteful
31/05/2012
Chiratas Nivatpumin

Outdated regulations, an inefficient education system and corruption are among the key factors impeding growth in Thailand's competitiveness, said speakers at the World Economic Forum in East Asia yesterday...

...The three-day World Economic Forum in East Asia began yesterday with a private session focused on Thailand's competitiveness...

...Piyasvasti Amranand, the outgoing president of Thai Airways International, said corruption is a major issue impeding the country's competitiveness

"We are not getting at the roots [of corruption]. We need to put the right people at the top and middle," he said.

Mr Piyasvasti, who was recently forced out of THAI due to "communication issues" with the board, said directors and politicians frequently meddled directly with management to foster corruption in procurement.

Poor investment choices and mismanagement only result in added costs and inefficiencies.

Mr Piyasvasti pointed to THAI's four Airbus A340-500 aircraft as an example of a poor procurement, as fuel costs outstripped ticket revenues making the plane financially unviable to fly.

"We shouldn't have bought the planes in the first place. Three of them have now been grounded," he said.

Regulations imposed on state enterprises and public agencies meanwhile failed to adequately address corruption while hindering operational efficiency.

Mr Piyasvasti said the National Anti-Corruption Commission required procurements worth over 2 million baht to be backed by cost and profit estimates that in his view have questionable worth in deterring corruption.

"I think [these rules] simply stifle the work of the government and state enterprises," he said.

At the same time, outdated and unnecessary regulation in the financial sector stifled innovation and flexibility, Mr Piyasvasti said, pointing to the difficulties in managing currency risks due to strict reporting requirements set by the Bank of Thailand... [Read the rest of the article here]

(Source: Bangkok Post, WEF, Corruption, red tape holding back growth, Piyasvasti says THAI plane buys wasteful, 31/05/2012, Chiratas Nivatpumin, link

Fighting Corruption Vocabulary

World Economic Forum (WEF) -
"an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. The Forum is best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland. The meeting brings together some 2,500 top business leaders, international political leaders, selected intellectuals and journalists to discuss the most pressing issues facing the world, including health and the environment" (See Wikipedia)

World Economic Forum on East Asia (WEF) - a regional meeting of the World Economic for the East Asia region (See website)

corruption - (See Wikipedia on bribery and political corruption)

red tape - official rules (usually government rules) that are complicated and slow things down and create inefficiency

holding back - stopping or slowing down something
holding back growth

corruption, red tape holding back growth

regulations - rules made by the government to control how some activity is done, that govern some industry กฎระเบียบ ระเบียบ ข้อบังคับ ระเบียบปฏิบัติ ระเบียบข้อบังคับ

outdated - old and not currently being used, old-fashioned
outdated regulations - old regulations (need to be updated for current situation)

inefficient - not efficient (could produce more from the resources it has)
inefficient education system

competitiveness - how well a business can do compared to other firms (does it have lower price or higher quality?) การแข่งขัน
Thailand's competitiveness

impede - prevent something from happening (or make less of it happen)
impede competitiveness  
impede growth

key - important คนสำคัญ
factors - one of the things that effects a situation or event ปัจจัย
key factors

key factors impeding growth

session
- a formal meeting การชุมนุม ประชุม
private session - a meeting not open to the public

Outdated regulations, an inefficient education system and corruption are among the key factors impeding growth in Thailand's competitiveness, said speakers at the World Economic Forum in East Asia yesterday... The three-day World Economic Forum in East Asia began yesterday with a private session focused on Thailand's competitiveness...

outgoing - leaving a position at a company or organization
outgoing president of Thai Airways International

issues - an important subject that people are discussing and debating about ประเด็น
major issue
communication issues

corruption is a major issue impeding the country's competitiveness

...Piyasvasti Amranand, the outgoing president of Thai Airways International, said corruption is a major issue impeding the country's competitiveness. "We are not getting at the roots [of corruption]. We need to put the right people at the top and middle," he said.

board - the group of highest level decisionmakers that make the top level policies that the company follows 
communication issues with the board

meddle -
cause problems with; interfere; get involved in thing (affairs, matters) that do not concern you (that are none of your business)
meddled directly with management

foster - cause something to grow and get bigger
procurement - official process of buying supplies for an organisation การจัดซื้อ
foster corruption in procurement - make corruption in the government grow

politicians frequently meddled directly with management to foster corruption in procurement

investment
- taking your money and putting it into projects to make a profit or earn interest (buying stock shares, bonds, real estate)
investment choices
poor investment choices

mismanagement - not managing well, resulting in failure or poor performance การจัดการผิด

efficiency - doing a task well without wasting time, money, resources (See glossary) การทำงานอย่างมีประสิทธิภาพ คุ้มค่าเวลาและใช้พลังงานหรือต้นทุนในการผลิตน้อย เพื่อให้ได้ผลผลิตมาก
inefficiency - actions and ways of doing things that are not efficient

Mr Piyasvasti, who was recently forced out of THAI due to "communication issues" with the board, said directors and politicians frequently meddled directly with management to foster corruption in procurement. Poor investment choices and mismanagement only result in added costs and inefficiencies.

Airbus A340 aircraft -
"the Airbus A340 is a long-range four-engine wide-body commercial passenger jet airliner. Developed by  ... a consortium of European aerospace companies ... seats up to 375 passengers in the standard variants and 440 in the stretched −600 series. Depending on the model, it has a range of between ... 12,400 to 17,000 km" (See Wikipedia)

outstripped -
were higher than
unviable
- cannot continue existing or living, cannot carry on doing what it normally does
revenues - money received by a business or government รายได้ของรัฐ

fuel costs outstripped ticket revenues making the plane financially unviable to fly

in the first place - meaning: at the very start
we shouldn't have bought the planes in the first place

ground an airplane - stop an airplane from flying (do not let plane leave the "ground")
three planes have been grounded

Mr Piyasvasti pointed to THAI's four Airbus A340-500 aircraft as an example of a poor procurement, as fuel costs outstripped ticket revenues making the plane financially unviable to fly.  "We shouldn't have bought the planes in the first place. Three of them have now been grounded," he said.

state - government รัฐ
enterprises - companies
state enterprises - companies owned and operated by the government

imposed - force someone to do something or follow some rule
regulations imposed on state enterprises

public agencies -
government agencies or departments

address a problem -  to try to deal with and solve a problem or question จัดการกับปัญหา
failed to address a problem

adequately -
do enough (to get the result intended)
failed to adequately address a problem

failed to adequately address corruption

hinder - stop or prevent things from working normally
operational - working; able to be used; able to work normally  to complete everyday tasks ที่สามารถใช้งานได้
hindering
operational efficiency

Regulations imposed on state enterprises and public agencies meanwhile failed to adequately address corruption while hindering operational efficiency.

procurements - purchases

profit - money that you make from selling goods and services after all your costs have been paid กำไร
estimates - guesses of what the size, value, amount, cost, etc. of something might be การประมาณค่า

backed - supported ให้การสนับสนุน
backed by cost and profit estimates

questionable
- involving doubts about whether something has been done properly ที่น่าสงสัย
of questionable worth

deter -
make people stop doing some activity (example: long jail sentences deter crime)
deter corruption

of questionable worth in deterring corruption


Mr Piyasvasti said the National Anti-Corruption Commission required procurements worth over 2 million baht to be backed by cost and profit estimates that in his view have questionable worth in deterring corruption.

stifle - prevent a good thing from continuing
stifle the work of government

innovation - a new way of doing something นวัตกรรม
stifle innovation

"I think [these rules] simply stifle the work of the government and state enterprises," he said.

unecessary - not needed
unecessary regulation

sector - a part of the economy ภาคเศรษฐกิจของประเทศ (public sector = government, private sector = all businesses, household sector = families and consumers, banking sector,...) (See Wikipedia)
financial sector - the part of the economy that deals with money (banks, stock market, etc)

flexibility - can change easily and adapt to new situations and conditions as they occur ความยืดหยุ่น

currency - a widely used the money accepted for exchange of goods in an economy เงินตรา (See Wikipedia)
managing currency risks

reporting requirements -
the reports that a company or organization must provide the government or public when it does some activity

strict - very careful and exact เข้มงวด
strict reporting requirements

At the same time, outdated and unnecessary regulation in the financial sector stifled innovation and flexibility, Mr Piyasvasti said, pointing to the difficulties in managing currency risks due to strict reporting requirements set by the Bank of Thailand...

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