Bangkok: The private sector is urging the formation of a new government that prioritizes eliminating corruption and continues restructuring the economy. They are keenly observing developments around the upcoming elections, hoping for leadership that aligns with their vision for sustainable economic growth.
According to Thai News Agency, Mr. Poj Aramwattananon, Chairman of the Thai Chamber of Commerce and the Federation of Thai Chambers of Commerce, as well as the Chairman of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), emphasized the private sector's desire for leaders who are free from corruption. This, he argues, is crucial as corruption is at the root of many problems. The JSCCIB is advocating for a post-election government that will continue the economic restructuring process, aiming to integrate the Thai economy into a sustainable system. This initiative includes resolving debt issues, enhancing purchasing power, boosting entrepreneurial capabilities, reducing business obstacles, and strengthening supply chains. A focus on combating corruption and illegal activities is seen as essential to building trust, reducing hidden business costs, and fostering collaboration.
The 'Reinvent Thailand' initiative seeks to address domestic challenges and leverage strengths for sustainable growth. The JSCCIB is closely monitoring progress in promoting New S-Curve industries, with efforts to support Thai entrepreneurs in enhancing competitiveness. These measures include urging increased participation in the Board of Investment (BOI) programs and considering extending application deadlines. Financial support initiatives such as the 'SMEs Credit Boost' program, soft loans, and credit guarantees by the Thai Credit Guarantee Corporation (TCGC) are also being advocated. These strategies focus on simplifying processes, enhancing supply chains, upgrading skills, creating jobs, and generating real economic value.
"The private sector wants leaders who are not corrupt, because all problems stem from corruption," Mr. Poj stated, highlighting the JSCCIB's 'Zero corruption' campaign. He noted that while political party policies may not differ significantly, the private sector is monitoring potential pre- and post-election events. He urged the next government to collaborate with the private sector rather than make unilateral decisions.
Mr. Kriengkrai Thianukul, President of the Federation of Thai Industries (FTI), echoed these sentiments, stressing the need for a leader who is decisive, honest, and collaborative with the private sector. He pointed out the necessity for structural reforms, particularly in addressing outdated regulations that hinder investment and foster bribery, citing concerns raised by a Tesla executive. Additionally, he emphasized the importance of reducing logistics costs, which currently account for 15-16% of Thailand's GDP, to 9-10%, to enhance economic efficiency and attract global investors.