Apec business council urges group’s leaders to support MSMEs, create digital infrastructure

The call was made in an annual ABAC report, which was submitted to Prime Minister Prayut Chan-o-cha by council president Kriengkrai Thiennukul at Government House.

Kriengkrai met Prayut at the Thai Ku Fah Building at 8.30am to present the ABAC annual report for 2022.

Thailand will host the annual Apec Economic Leaders’ Meeting on November 18-19.

The PM’s deputy secretary-general, Anucha Burapachaisri, who is also acting government spokesman, told reporters that Kriengkrai had assured the prime minister the ABAC would support the Thai government in hosting the Apec Summit.

Prayut thanked Kriengkrai for the annual ABAC report that compiled proposals of businesses in the Asia-Pacific region under the concept of “Embrace, Engage and Enable”.

Anucha said the proposals were presented in 69 points. Among other things, members of the ABAC called on Apec leaders to support MSMEs, especially businesses owned by women and local people.

The private sector also called on leaders of the Apec economies to develop digital infrastructure for businesses in the region.

The report noted that supporting the MSMEs and the development of digital infrastructure for MSMEs and other businesses would bring about economic recovery and growth.

The ABAC report also called on the Apec leaders to tame rising inflation and tackle insecurity in food and energy, as well as deal with climate change and environmental issues.

Anucha said the Apec Summit this year would cover five topics: regional economic integration, digital economies, MSME and inclusiveness, sustainability, and finance and economics.

The government considers the ABAC report useful for implementing its economic polices, Anucha said.

Anucha quoted Prayut as telling the ABAC president that the government is developing infrastructure to connect Thailand to other countries in the region.

Prayut also told Kriengkrai that the government was speeding up efforts to overcome obstacles to export and import via bilateral and multilateral negotiations.

Kriengkrai expressed confidence that the government would organise the Apec Summit smoothly under Prayut’s leadership.

Kriengkrai said the ABAC appreciated Prayut’s efforts to promote trade and investments with foreign countries, especially the reopening of trade with Saudi Arabia, which has resulted in bilateral cooperation in four industries — auto and parts, petrochemicals, foods, and construction materials.