Srettha advocates urgent action to propel Thailand’s economy forward
In his speech at the closing ceremony of the Thai Chamber of Commerce’s 90th anniversary, Prime Minister Srettha Thavisin highlighted the imperative need to transform crises into opportunities.
He said this was necessary for building a sustainable economy for Thailand.
The ceremony was held on Sunday at Bangkok’s BITEC Convention Centre.
Srettha said there were many positive aspects to the Thai economy, especially post-election, but it was also necessary to take collective responsibility to contribute to its improvement.
As for the controversial digital wallet scheme, he said that though opinions are varied, the 10,000-baht digital handout was crucial to addressing the ongoing crisis.
Referring to the GDP of other ASEAN nations, such as Vietnam, Malaysia, Indonesia and the Philippines, Srettha said their economic expansion figures were far higher than Thailand’s lower than 2% growth in the past nine years.
Despite these challenges, though, he expressed confidence in Thailand’s potential to achieve similar results.
He added that the government has over the past two months taken several economy-boosting steps such as deferring farmers’ debts, reducing electricity and oil prices and providing free visas in a bid to boost tourism.
Srettha also underlined Thailand’s attraction as an investment destination but said to make the most of it, it was necessary to introduce supportive measures such as tax incentives and free trade agreements.
He added that concrete action was required to attract investors, and for that discussions, negotiations and collaborative actions were needed.
As for tourism, he said, his government was focusing on secondary cities and was opening new airports. He added that this was the time for the transportation sector to expand its reach.
The problem of household debts was another issue the premier focused on, saying non-systemic debts were a serious societal scourge. However, he said, the government was devising guidelines for negotiations between district officers, debtors and creditors. The premier also said the excessively high interest rates charged by loan sharks were unlawful and solutions to tackle this will be announced soon.
As for systemic debts, Srettha said, clear guidelines will also be announced soon.
Meanwhile, the farming sector is also suffering, and the government is working on revitalising it by boosting export markets to enhance farmers’ prospects, he said.
“Some people call me the nation’s salesman. I am not against it, as I am indeed helping promote and sell the country’s trade and investment potential for the Thai people,” Srettha said.
The prime minister will be attending the 26th ASEAN-Japan Summit in mid-December. For the past 50 years, Japan has played a key role in trade and investments in Thailand and has the most extensive production base in the country.
Srettha said during his visit to Japan, he will showcase Thailand’s commitment to supporting investments, including the facilitation of free visas for Japanese businessmen.
He also invited business leaders to join him on his overseas trips, emphasising collaboration in promoting trade and investments for the nation’s prosperity.
