CP senior chairman believes govt's Digital Wallet scheme can boost Thai economy

Addressing the 90th anniversary of the Thai Chamber of Commerce's 41st seminar at Bitec Convention Centre in Bangkok, Dhanin acknowledged the swift changes in the current era, stating that crucial and substantial information necessitates AI analysis due to human limitations. He praised the government, particularly Prime Minister Srettha Thavisin, for managing fiscal discipline well. Thailand's public debt stands at only 61%, unlike other countries exceeding 100%, warranting commendation.

He noted the abnormality of today's global economy, except for the United States. Despite measures to increase interest rates to curb inflation, money still flows into the US, which bears debt burden exceeding 100%; but confidence in the US economy remains.

Dhanin lauded the incoming government for timely economic corrections, especially praising Prime Minister Srettha for leading the real estate business while demonstrating excellent financial management skills. He stressed the need for unconventional measures to stimulate the economy amidst the global economic crisis, asserting that it's not exclusive to Thailand.

Regarding the government's debt relief for farmers, he strongly agreed, stating it doesn't compromise fiscal discipline. Protecting agricultural produce prices is crucial as it's Thailand's oil. When agricultural products enter the industrial sector, they add value and generate two to three times the income. Agricultural products don't expire like oil.

Dhanin said that agricultural produce is more critical than oil. He hoped the government would not limit agricultural produce prices, as doing so would negatively impact farmers. He urged political parties, businessmen, and officials to prioritise national benefits over personal ones.

He highlighted that most of Thailand's impoverished are farmers facing off-the-book debts. He urged every political party, businessman, and civil servant to prioritise the country's interests before their own. He reiterated that if the country cannot buy, businessmen cannot sell. Therefore, the Prime Minister's economic stimulus using digital money is about boosting the economy, not just aiding the poor.

He believes that our financial discipline remains intact, and Thailand's financial reputation globally is solid. Once stimulated, there must be future plans. He believes that with unity under this government, prosperity is certain. Everyone wants to come to Thailand despite inflation fears; he fears excessive money circulation as it could lead to an economic collapse.

Dhanin expressed confidence that the global crisis is Thailand's opportunity. Thailand is the safest, not engaging in battles with anyone. ASEAN is growing, not resisting the crisis, making it the best investment hub. Today, ASEAN and Thailand differ from the Tom Yum era; the world faces a crisis, but ASEAN and Thailand are the prime investment destinations growing steadily.

He believed that the global crisis is Thailand's opportunity, urging businesses to modernise production to increase efficiency, produce more in less time, employ more technology, and raise salaries. When machines replace people who used to work in factories, they will seek other job opportunities, leading to a rise in service businesses. Today, we are seeing more start-ups in new and exciting businesses.