BOT Governor vows close cooperation with private sector, says ‘economic growth is the goal’
BOT Governor Vitai Ratanakorn pledges closer cooperation with private firms, saying the central bank will act fast to support economic growth
Today at the Federation of Thai Industries (FTI), Vitai Ratanakorn, Governor of the Bank of Thailand (BOT), led a team of senior officials to meet with FTI members. The goal was to strengthen cooperation and listen directly to the private sector’s concerns and challenges.
Vitai said before the meeting that this was the first time a BOT Governor had initiated discussions with the industrial sector, recognising its crucial role in driving Thailand’s economy.
He emphasised that the BOT fully recognises the importance of economic recovery and growth, which are shared goals of both the government and the central bank. To that end, the BOT is ready to work more closely with private businesses to ensure sustainable growth.
“I’ve brought my entire team here today to listen carefully to the private sector’s problems and ideas for collaboration,” Vitai said. “Any issue that the BOT can address immediately will be handled without delay. For matters requiring further consideration or cross-agency coordination, we will bring them to the relevant authorities for discussion.”
He added that the BOT is committed to maintaining close and regular dialogue with the private sector to monitor the economic situation and resolve issues continuously.
FTI identifies three key issues
Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries, said the meeting would focus on three major issues directly affecting industrial competitiveness.
One of the key topics, led by Nava Chantanasurakon, FTI Vice Chairman, concerned measures to cope with the impacts of US tariffs and the ongoing trade war. He said Thai manufacturers are increasingly facing risks from tighter US trade policies.
The discussion will focus on proactive strategies, including diversifying export markets, pursuing trade negotiations, and restructuring production to minimise negative impacts while capturing opportunities from the near-shoring shift in global supply chains.
FTI also aims to enhance cooperation with the central bank in tackling financial challenges, boosting liquidity for SMEs, and supporting innovation to maintain Thailand’s industrial competitiveness amid global uncertainty.
