Bangkok: Pichai insists on moving forward with tariff negotiations with the United States despite the political vacuum, acknowledging the potential impact on economic confidence. He has not seen any signs of foreign investment slowdown, but believes GDP will reach 2.5% in 2025. Meanwhile, Pao Phum declined to comment on the retirement lottery, pending clarification.
According to Thai News Agency, Deputy Prime Minister and Minister of Finance, Mr. Pichai Chunhavajira, presided over the award ceremony and the press conference for the “HackLandValue – The Right Appraisal Price, Everyone Loves” project, organized by the Treasury Department and the Digital Economy Promotion Agency (depa). He also delivered a speech addressing Thailand’s major asset, land. One issue that complicates investment and exchange is price discrepancies between parties. Another issue is ensuring fair land tax collection if appraisals are fair and transparent. Another issue is the discrepancy between areas. Using technology and innovation to assess land prices will facilitate rapid calculations. He believes that this collaborative activity organized by the Treasury Department and depa will be able to further develop these concepts and ultimately lead to practical application. Regarding the progress of the rights-based property law, a draft law has been finalized and is currently being presented to the
Cabinet.
Mr. Pichai further commented on the current political situation, stating that a political vacuum can occur and a solution can be found. Therefore, confidence in land prices has not yet been impacted, but he acknowledged that confidence in economic activity may be somewhat affected. He added that he has not seen any signs of a slowdown in foreign investment.
Regarding the issue of credit rating downgrades, it is believed that this will remain unchanged. The assessors will be able to assess the direction in which the situation will unfold.
Regarding Thai economic growth in 2025, many agencies have revised their projections above 2%, pending clarification on US tariff measures. I believe that if progress is made positively, it will help push Thai economic growth to 2.5%. I will remain in charge of trade negotiations with the US during this political vacuum and remain ready to negotiate trade deals to reach a clear conclusion for presentation to the Cabinet and Parliament on certain issues. I am also prepared to push forward policies that benefit the country until the elections are concluded.
Mr. Paopum Rojanasakul, Deputy Minister of Finance, stated that the National Savings Fund Act (or Retirement Lottery) and the establishment of the National Credit Guarantee Institute (NaCGA) will require a clearer picture from the government before any decisions can be made on how to proceed.