Thai Chamber urges swift economic action as Bhumjaithai moves to form government
Thai Chamber of Commerce vice chairman Visit Limlurcha said the Bhumjaithai-led government formation should keep economic policy moving without disruption, urging urgent action in the first three months on cost-of-living pressures, exports and tourism, and the FY2027 budget—while warning Thailand must shake the “sick man of Asia” label through faster recovery and greater transparency.
Visit Limlurcha, vice chairman of the Thai Chamber of Commerce, said he expected policies that remain unfinished or pending to move forward without disruption under the next administration, following the election outcome that points to the Bhumjaithai Party leading the formation of a new government.
Visit: unfinished policies should move ahead without disruption
Visit said the Anutin administration had already demonstrated its performance over the past four to five months, particularly through its economic team, and he believed continuity would help ensure remaining measures could proceed smoothly.
Chamber calls for capable economic team, not “quota politics”
Visit said one positive aspect was the prospect of having people who were “ready to work”, noting it was relatively uncommon in Thai politics for economic portfolios to be handled by individuals who were not selected through party or factional quotas.
He said quota-based arrangements often prevent the most suitable specialists from being appointed to key roles.
Warning over “sick man of Asia” perception
Visit said the government must move quickly to restore growth amid global headwinds, including geopolitical tensions and persistent cost-of-living pressures.
He warned that Thailand was increasingly being viewed by foreign observers as the “sick man of Asia”, saying the country must restore its image while tackling economic problems at the same time—an outcome the private sector hopes to see from a government formed through democratic process.
Ministers should be given time, but confidence must return quickly
Visit said that if the same three ministers remain in place—Suphachai Suthumphan as commerce minister, Sihasak Phuangketkeow as foreign minister, and Ekniti Nitithanprapas as finance minister—each had already demonstrated capability, even if the time in office had been too short for results to be fully evident.
However, if the posts change hands, he said new appointees should also be given time to work, because rebuilding investor confidence takes time—though it should not take too long given the negative perceptions surrounding the “sick man of Asia” label.
Private sector’s first-three-month priorities and transparency demands
Visit said the private sector wanted to see urgent progress in the first three months on:
- Cost-of-living measures to revive domestic economic activity;
- Support for exports and tourism; and
- Fast-tracking the FY2027 budget to avoid delays that could trigger wider knock-on impacts.
He added that speed must come with transparency, with the private sector consistently emphasising action on corruption and “grey capital”, and calling for clear plans and measures to address the issues.
