CRC proposes 6 measures to drive – solve the economy

Bangkok, May 3- CDP prepares to propose 6 ways to propel the economy to political parties and governments in the future, setting a framework for GDP growth of 3-3.5%. Concerned about drought causing industrial and agricultural costs to rise again

Mr. Kriangkrai Thiennukul, President of the Federation of Thai Industries (FTI), as chairman of the Joint Committee of the Private Sector Joint Committee of 3 Institutions (NRG), revealed that today's NRG meeting has made 6 proposals. submitted to a political party and future government for driving the economy and solving business problems as follows

1. Competitiveness, such as enhancing the country's competitiveness support the recovery of the Thai economy to achieve sustainable growth

2. Ease of Doing Business, such as reforming outdated laws Accelerate the improvement of secondary laws related to government licensing. and that is an obstacle to business operations

3. Digital Transformation, for example, promoting Thailand as a technology hub to become a technology hub

4. Human Development, such as increasing labor productivity should be set on the national agenda Skill-based wage payment systems are supported. Upgrading labor skill standards to meet international standards and solve the problem of shortage of Thai and foreign workers

5. SMEs, for example, support measures to help SMEs to access funding sources. and speeding up debt restructuring by establishing an SME development fund to strengthen business competitiveness

6. Sustainability, for example, driving the economic model towards sustainable development or BCG and developing a plan to support food shortages (Food Security) to solve household debt problems sustainably.

Mr. Kriengkrai said that the Thai economy tends to continue to recover from the tourism sector. The number of tourists has a chance to reach 30 million in 2023, which is expected to increase in the number of tourists in the second half of the year. And is a supporting factor causing GDP in the second half of the year to grow more than the first half of the year The CRC maintains the 2023 economic growth projection between 3.0-3.5, exports -1.0 - 0.0, inflation 2.7 - 3.2.

Thai exports are expected to contract in the first half of the year before rising in the second half. However, the cost situation is still high and may slow down. World market prices for agricultural and industrial commodities remain high. As a result, the inflation rate of major economies remained at a high level and tended to decline more slowly than expected. Because the cost pass-through is not yet finalized. Entrepreneurs tend to gradually increase product prices for the second round by about 5-10% depending on product types and costs.

The CRC is also concerned about the risk of drought that may affect the eastern region. Which is caused by the El Niño phenomenon that has a chance to occur during July 2023 and can be severe for up to 3 years, which will cause heat waves and drought in a wide area affecting the agricultural and industrial sectors cause the cost to increase And causing agricultural productivity to decline, the CRC is preparing to submit a letter to the Prime Minister. Ask relevant agencies to speed up the 3-year and long-term drought response plans in order to accelerate drought response measures. and expedite projects to develop water reservoirs in the eastern region to complete as planned, such as the Wang Tanode Reservoir Project Chanthaburi province, etc.

Mr. Sanan Angubolkul, Chairman of the Board of the Thai Chamber of Commerce, said that although many countries around the world are experiencing food shortages. But I'm sure that Thailand is not lacking. Even if there is a problem of drought, it will not affect the amount of food. But it will increase the cost. coupled with high inflation The cost will be even higher. As for the electricity bill, it tends to decrease due to lower energy prices, but considers that there should be a major restructuring of the electricity bill. because the reduced electricity cost will allow the country to compete with foreign countries.-Thai News Agency

Source: Thai News Agency