Quick formation of new govt crucial, CEO survey shows

MONDAY, JULY 31, 2023

An opinion survey conducted between July 25-30 by Krungthep Thurakij Media involving 100 CEOs from various business sectors shows prompt formation of new government is crucial

A recent opinion survey of CEOs from various business sectors - manufacturing, agriculture, energy, real estate, exports, finance, retail, information technology, and digital services sectors as well as small- and medium-sized businesses, underlined the sense of urgency for a new government to promptly address the country's economic and household debt issues. All expressed concern that the uncertain political climate is having a significant impact on the economy, leading to dwindling confidence among foreign investors and a lack of continuity in driving the country's policies.

Results show that 60.2% of them would prefer a swift formation of the new government, with the Pheu Thai Party being the preferred leading party at 25.5%. 66.3% want to see Srettha Thavisin as prime minister, followed by Anutin Charnvirakul at 9.5% and Paetongtarn Shinawatra at 8.4%.

Moreover, the CEOs emphasised the urgency of implementing immediate policies to tackle economic challenges, with 89% of them focusing on resolving economic issues. Other priorities include updating economic laws (59%), attracting foreign investments (52%), supporting software development and infrastructure improvement (42%), addressing poverty and inequality, supporting digital economy initiatives, and handling state administration issues.

Some CEOs stressed the importance of supporting the SME sector and startups by prioritising sustainability policies and creating an environment conducive to business growth. They believe that the government should foster income security for farmers and make Thailand a global hub for health and wellness.

Regarding the government's formation, more than half of the respondents (51.5%) would prefer the existing eight parties (312 seats) to come together and form the government. Meanwhile, 70% of CEOs think that the prime minister should not be an outsider, but 31% believe that a non-political figure from outside the parties should assume the position if the political situation becomes deadlocked. Furthermore, over 80% of CEOs disagree with waiting for ten more months for the Senators' term to end before voting for the next prime minister.