Thailand gets moderate score for economy, fails on politics
Some Asian businesspeople have rated the Thai government's economic performance as moderate but ranked its political performance below the passing mark, while rising wages are the highest concern.
Kiatanantha Lounkaew, director of Dhurakij Pundit University Research Centre, revealed the results of a recent survey of a small number of Asian businesspeople’s perceptions on the government’s economic and political performance.
The survey, conducted between May 20 and June 1, polled 128 people from three countries: Japan, South Korea and China. Though the sample was small, Kiatanantha noted that the opinions of Asian businesspeople should not be overlooked. The results send a clear warning to the government to get serious about coordinated economic management of the country rather than a piecemeal policy to soothe the populace, he said.
The results of the survey are shown below.
Overall economic performance: 5.5 points out of 10.
1 Enhancing investors’ confidence, 5.9 points.
2 Promoting economic growth, 5.8 points.
3. Promoting economic stability, 5.7 points.
4 Keeping costs of living under control, 5.5 points.
5 Helping local businesses to prepare for Asean, 5.4 points.
6 Efficient use of public funds, 5.2 points.
7 Keeping costs of production under control, 5.1 points.
Political performance: 4.5 points out of 10.
1 Promoting fairness and justice, 4.9 points.
2 Transparency in policy-making processes, 4.6 points.
3 Receptive to opinions from business sector, 4.6 points.
4 Receptive to opinions from the populace, 4.3 points.
5 Promoting a stable political climate, 4.2 points.
When asked about business-related issues they would like the government to address, 38.6 per cent identified a proper policy package to mitigate the impact of the Bt300 minimum daily wage. Of those polled, 30.2 per cent called for a clear and systematic plan for flood protection, 25.1 per cent sought enhanced political stability, and the rest wanted to see efforts against corruption, proper coordination among ministries to minimise confusion of policy-related information, and other matters.
Rising costs and global economic uncertainties are real and immediate challenges to businesses, while the recent escalation of political conflicts had made the overall climate even more pessimistic, Kiatanantha said. Unless these issues are taken care of appropriately in the near future, perceptions on performance of the government will sink even further.
