Tuesday, September 22, 2020

Almost 80% of CEOs want new Cabinet to get up and running immediately: survey

Aug 04. 2020
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By The Nation

Almost 80 per cent of chief executive officers of large organisations in Thailand hope the new Cabinet will be able to start working immediately and with a deep understanding of local and foreign economies, according to a Krungthep Turakit newspaper survey of 100 CEOs in various sectors.

The CEOs also expected the new Cabinet to be able to work closely with the private sector.

Most of them wanted to see a strong and professional economic team in the new Cabinet.

Around 45.5 per cent expected the Cabinet reshuffle to improve implementation of economic policies, while 38.4 per cent thought the situation would remain unchanged.

Almost three-quarters (71 per cent) of CEOs wanted the new Cabinet to immediately launched short- and long-term stimulus packages to maintain economic momentum.

Asked about a possible second wave of Covid-19 in Thailand, more than 77.8 per cent said the government should have a plan to deal with a surge via collaboration with the private sector, toughened measures at tourist attractions, shopping malls and restaurants, and speeding up vaccine development.

Almost 50 per cent of CEOs believed the business sector situation would worsen in the last five months of this year if there is no vaccine. More than 50 per cent believed the Thai economy will shrink by 10 per cent this year.

The CEOs were split on whether the state of emergency should remain in place. Forty-nine per cent said it should stay while another 49 per cent said it was not necessary.

Of the total, over 50 per cent said the state of emergency had a slight impact on their businesses, while 14 per cent said it had a major impact.

Of the total CEO respondents, 21.4 per cent were from finance sector, 17.3 per cent from the energy sector, 16.3 per cent from the production sector, 16.3 per cent from the ICT sector, 15.3 per cent from the tourism sector, and the rest from export, property, auto, consumer goods, retail, agriculture and media.

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