Thailand’s economy a slow-moving Ferrari car despite its high potential: Srettha

He said the government had worked hard over the past 10 months to relieve the people’s suffering, adding that dealing with the people’s hardship was most important for the government.

“I adhere to discipline and work hard, along with ensuring sufficient healthcare,” he said.

A former real estate tycoon, Srettha admitted that government work was different from operating a business due to government agencies’ procedures, independent organisations’ screening and difficulty in launching measures.

When asked about his survey across Thailand even in areas without Pheu Thai MPs, Srettha said the survey was important for him as a newly appointed PM to understand the people’s problems because he had not interacted with them before.

He affirmed that surveys of many provinces also enabled him to see the hardships faced by the people, saying that he could receive complaints directly from the people. He added that meetings with local agencies also benefit him and ministers.

Srettha said the government has many flagship policies to stimulate Thailand’s economy, including policies to promote tourism which generates high revenue for the country.

“Phuket has high potential [for tourism], but there are many problems like tap water, mafia, garbage, traffic and security,” he said, adding that these problems ruined the province’s charm.

He said his visits to Suvarnabhumi Airport were part of the government’s flagship policies to build an Asian hub. Suvarnabhumi was ranked among world-class airports, but its ranking has dropped sharply in recent times, he lamented.

He said his visits without prior intimation were not aimed at pinpointing the airport’s flaws, but to help in improving its services. 

“Foreign tourists should be happy after arriving in Thailand, whether standing in a queue or using public transport,” he said.

When asked about his frequent overseas trips, Srettha said more than half of his 15 overseas trips were mandatory, such as a trip to Tokyo to celebrate the 50th anniversary of ASEAN-Japan friendship, and the signing of a free trade agreement in Sri Lanka.

He said international trade, geopolitics and foreign investment are important even though it takes time to see the results.

“I have to go because it is an opportunity to say Thailand has reopened to foreign investment, and the investment could generate many billions of baht for the country,” he said.

He also confirmed that his many visits so far had resulted in a positive impact on Thailand, such as international partnerships and investor relocation.

When asked about diplomacy, Srettha said Thailand was ready to support many countries in doing business without triggering conflict with anybody. “We confirm that many countries’ production will not be disrupted,” he said.

The PM spoke about Thailand’s high potential in the global economy and compared the country to a Ferrari car that has been moving slowly.

“We need to progress further steadily with collaboration from government coalition parties, Parliament, government officials and non-governmental organisations,” he said, adding that public hearings should be conducted to resolve conflict among stakeholders.

He added that the government was considering the feasibility of setting up a nuclear power plant to boost consumption of clean energy, and also studying whether entertainment complexes could benefit illegal activities.