FTI comes up with ideas to boost economy
The Federation of Thai Industries (FTI) submitted a proposal to boost the subdued economy to Prime Minister Prayut Chan-o-cha on Friday (June 19).
Prayut had called on the FTI to make proposals as part of his announcement last week that every party would be given an opportunity to hand in their ideas for driving the country towards a better future.
FTI has proposed that the first step would be to allow the joint public-private committee tasked with solving economic problems to meet, FTI chairman Supant Mongkolsuthree said, pointing out that it has been a long time since the committee last convened. He added that the committee should hold a meeting next month.
The federation also proposed that its members deploy technology to help farmers reduce their production costs by Bt1,500 per rai. It plans to pilot this scheme on 2 million rai of land.
It will also promote “made-in-Thailand” concept as part of the national agenda as well as campaign for the country to become a regional centre for ethanol production.
FTI has also proposed that the government waive corporate income tax for the 2019-2021 fiscal years for small and medium-sized enterprises. Almost all types of withholding tax for the current 2020 fiscal year should also be cut to a flat rate of 1.5 per cent.
