Thailand could make a mint with coins
- January 28, 2013
Published: 28 Jan 2013 at 00.00
Bangkok Post / Newspaper section: Business
Thailand’s industries have made major strides in recent years to position themselves as hubs for auto manufacturing, agriculture and tourism. But coin production?
Why not, says Tassanee Ponglamai, the deputy director-general of the Treasury Department.
“Thailand has the potential to become a hub for coin production in the region, as demand will certainly rise with the launch of the Asean Economic Community [in 2016],” she said.
The lowering of trade and service barriers across Asean under the AEC will help lead to greater labour mobility, trade, financial flows and transport through Thailand and the region.
Mrs Tassanee said demand for Thai coins and banknotes will certainly increase, noting that traders along the Cambodian and Lao borders already use Thai currency for trade. The Royal Thai Mint also has the capacity to produce coins for other countries.
The Treasury Department, which oversees the Royal Thai Mint, will look to improve its coin production and logistics processes to help cope with anticipated higher demand in the future, she said.
In 2012, the mint produced 1.64 billion finished coins, and it expects to mint 1.87 billion coins this year.