TCC submits proposals to govt for boosting growth

The Thai Chamber of Commerce (TCC) and Board of Trade of Thailand (BTT) on Sunday submitted proposals of economic measures for the government to carry out to achieve GDP growth of at least 3% next year.

TCC and BTT chairman Sanan Angubolkul submitted the proposals to Deputy Prime Minister Anutin Charnvirakul after a seminar of TCC members was concluded on Sunday.

The TCC and BTT held the seminar of members from around the country at the Nongnooch International Convention Hall in Pattaya from Friday to Sunday. The seminar was held under the concept of “Connect for Growth: Innovating for Our Sustainable Future”.

Sanan said the proposals have been compiled in a white paper from inputs of TCC members around the country that were aired during earlier seminars in the provinces.

Sanan said the TCC and BTT hoped to see at least 3% growth next year if the government accepts the proposals for implementation.
The white paper proposed three main strategies for the government to consider for achieving the growth:

- Boosting confidence in the country and abroad. Sanan said the government could do this by implementing measures to reduce living costs and manufacturing costs.

For example, the government should control prices of basic consumer goods and set caps on oil and electricity prices. It should also let the Wage Committee decide daily minimum wages instead of intervening.

Sanan said the government could also boost confidence by fairly distributing budgets to provinces and injecting more money into the economic system to increase purchasing power.

The TCC and BTT also called on the government to resume its policy of developing 10 second-tier tourism provinces into the main ones.

- Boosting SMEs’ competitiveness. Sanan said the government should tackle the debt issues faced by households and small and medium-sized enterprises to boost the competitiveness of SMEs.

The TCC and BTT suggested that the government use both fiscal and monetary measures to tackle non-performing loans (NPLs). For example, the government should allow debt moratoriums and seek banks’ cooperation in not seizing pickup trucks needed by SMEs and individuals for performing their businesses.

SMEs should be helped to compete against cheap imported goods that have flooded the market.

- Setting strategies for sustainable growth. Sanan said the government should devise strategies that help the country achieve growth with sustainability.

For example, the government must step up efforts to attract more investment, and it should add Prachin Burin to the Eastern Economic Corridor to add value to EEC projects in the future.

The government should support business sectors that remain competitive, such as food, tourism, wellness, logistics and connectivity hubs.

The government should also speed up attracting investment in S-curve industries, such as artificial intelligence (AI), digital economy, electric vehicles and green energy, and should manage water resources to prevent flooding, Sanan said.

He said there are six agendas that can sustain Thailand’s economic growth:

• Boosting trade and investment
• Developing Thailand into the world’s kitchen 
• Developing tourism and services as key income earners
• Developing green businesses
• Developing basic infrastructure
• Developing regional economies.