Haste urged on digital development

About 80 per cent of the economy is in the hands of the private sector and what the government should do is to help them, especially by issuing laws and regulations that foster their creativity, especially in digital technologies, he said.
“The private sector is stronger than the government in the area of creativity and they need no teaching from the government on how to stay in the creative economy,” he said.
All eight draft digital development bills were completed on July 6, 2015 and the first was presented to the Cabinet for approval on August 4 of that year, but until today, only four of the bills have been enacted by the National Legislative Assembly, he said.
There are more than 1,000 e-commerce operators in Thailand, he said.
“Thailand should not follow China, which relies only on one big e-commerce player, but should follow other economic communities such as the US and Europe, which try to promote small e-commerce players equally,” he said.
The downturn in Thailand is in line with the global economic slump, which had been dragging on for two years but is now in recovery mode, Pridiyathorn said. 
In 2015, global trade dropped by 13 per cent, and 5 per cent in Thailand. World trade continued declining by 2-3 per cent in 2016.
“The world’s economy shows signs of recovery without any decline in global trade this year. However, improvement in the world’s economy will emerge distinctly next year,” he said.
Once the world’s economy and trade rebound, the Thai private sector, which controls 80 per cent of the country’s economy, will work at full capability. Then, Thailand’s economy will be better.
The creative economy is a good initiative as it allows local businesses to add value to their products.
“Originally, Thailand’s economy was involved in basic industries, such as agriculture. 
“However, nowadays, we use something that is beyond basic production to add product value. They are digital technology and the cultural component,” he said.
Thailand is no longer a country selling cheap products.
“We are not competing with other export countries in offering cheap products, but high-quality goods. Value-added will be our weapon in staying competitive on the regional or global battlefield. 
“They need creative thinking in product design and development and offer those products to the market at the right time,” he said.
Cotto, a local ceramic tile manufacturer, is an example of a local manufacturer that has arranged its production facilities to serve specific markets. 
Its plant in Thailand produces high-quality tiles to serve the premium market, while its factories in Vietnam and China make lower quality products to cater to the mass market.
Thailand’s Board of Investment is also a good example in facilitating foreign investments in Thailand, especially in the advanced technology industry, amid a time of economic slowdown.
“During this time of economic difficulty, any company will hold back its investment. But when the economy revives, they will start investing again,” he said.
The Eastern Economic Corridor (EEC) is a good state initiative to promote the country’s economy.
“The government, however, is just talking about the EEC in a broad framework without going into details of the project,” he said.
Under the EEC, U-Tapao should not be promoted as only an international commercial airport, but also as a aircraft maintenance hub, which will then lead to the emergence of a aircraft parts industry.
“The government should amend any laws related to the development of aircraft maintenance centres in Thailand, which currently prohibit foreigners from owning majority shares, to facilitate the progression of such a EEC initiative,” he said.