Thai private sector urges government to rebuild trust
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is preparing to hold discussions with the Bank of Thailand, the National Economic and Social Development Council (NESDC), the Finance Ministry and the Commerce Ministry to realign economic priorities given the limited available resources, with a focus on the next 6-12 months.
Bangkok (VNA) – Three major private sector groups in Thailand have urged the government to ramp up efforts to rebuild trust and confidence among the public and businesses.
As reported by Bangkok Post, speaking after a meeting of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) on July 2, Payong Srivanich, chairman of the Thai Bankers' Association, said a key element in rebuilding trust and confidence is emphasising the rule of law.
According to Payong, the JSCCIB is preparing to hold discussions with the Bank of Thailand, the National Economic and Social Development Council (NESDC), the Finance Ministry and the Commerce Ministry to realign economic priorities given the limited available resources, with a focus on the next 6-12 months.
Poj Aramwattananont, chairman of the Thai Chamber of Commerce, said the private sector is worried about the government's stability. Political processes must be concluded as quickly as possible so the country can function normally again, he said.
In addition, a special task force is needed to restore confidence both domestically and internationally, said Poj.
Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, recommended protective measures for domestic producers and a review of investment promotion policies.
He also add🅘ressed the Thailand-Cambodia border trade dispu♛te, noting total trade between the two countries totals 180 billion THB (5.56 billion USD), with 170 billion coming from border trade. Border checkpoint closures have affected trade by about 500 million THB per day./.
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