FTI review analyses Prime Minister Paetongtarn's governance
Business federation highlights both achievements and critical areas requiring attention
The Federation of Thai Industries (FTI) has conducted a three-month review of Prime Minister Paetongtarn Shinawatra's governance, highlighting both achievements and critical areas requiring attention.
FTI chairman Kriengkrai Thiennukul told Krungthep Turakij newspaper that the prime minister has made significant strides in attracting foreign direct investment, with nearly 2,000 projects in target industries worth more than 720 billion baht successfully completed.
The government has demonstrated momentum in several key areas, including trade negotiations. Minister of Commerce Pichai Naripthaphan recently secured a free-trade agreement (FTA) with four European countries: Switzerland, Norway, Iceland and Liechtenstein. This achievement is expected to enhance Thailand's export opportunities and attract foreign investment.
Despite these developments, Kriengkrai called for intensified government action to address enduring issues such as rising household debt, declining consumer purchasing power, and the challenges faced by small and medium-sized enterprises (SMEs), particularly concerning the prevalence of substandard imported goods that pose a risk to local businesses.
He warned that without decisive action, the future of Thai SMEs may be at risk, leading to factory closures and a reliance on foreign investment in new industries.
Meanwhile, he stressed the urgency for the government to expedite its policy implementation after the Party for Thailand's recent momentum and the previous efforts of former PM Srettha Thavisin in promoting targeted industries such as the PCB (printed circuit board) sector.
"The government must work decisively and intensively," Kriengkrai warned.
He expressed concern that without comprehensive measures, Thai SMEs could face significant closures, potentially leaving only foreign-funded factories operational.
The FTI chairman said that while the government has maintained continuity from previous administrations, particularly in investor roadshows and industry targeting, more aggressive action is crucial to prevent economic stagnation.
The review underscores the delicate economic balance facing Thailand, with the private sector calling for proactive, targeted interventions to sustain economic growth and protect domestic businesses.
