Thai businesses satisfied with govt’s achievements in first 90 days

The Thai business sector is generally satisfied with what the current government has done in the 90 days since Prime Minister Paetongtarn Shinawatra took the helm, but is urging clear economic stimulation plans for next year, especially in provinces with high potential.

Paetongtarn on Thursday highlighted the government’s achievements over the past 90 days in the event titled “2025 Empowering Thais: A Real Possibility” held in Bangkok.

After the event, the Thai Chamber of Commerce (TCC) chairman Sanan Angubolkul said the government has achieved several tangible milestones in the past three months, especially in tourism and soft power promotion.

“I commend the government for its efforts in pushing various measures to help the Thai tourism sector grow again,” he said. “These include the cancellation of visa requirements for many countries, as well as streamlining procedures and improving immigration services, particularly at Suvarnabhumi Airport, to enhance efficiency.”

Sanan said the government’s promotion of soft power, including food, major events and festivals, has led to over 32 million foreign tourists visiting Thailand. “With further planning and proactive publicity efforts, we could see the number of tourists reaching 40 million next year,” he added.

The TCC chairman also applauded the government’s efforts in attracting international corporations to invest in Thailand’s emerging industries, including data centres, cloud services, electric vehicle manufacturing and semiconductors.

“Although the tackling of household debt issues and public debt figures have not improved as expected, the government’s efforts are evident, particularly in listening to feedback from the private sector,” he said. “The TCC believes that debt restructuring measures, aimed at housing and auto loans, will eventually alleviate household debts, create opportunities and reduce inequality.”

Sanan urged the government to come up with clear plans to stimulate the economy next year, with a focus on promoting investment and tourism in provinces with high potential with the aim of distributing income to the grassroots economy and reducing inequality.

Meanwhile, the major challenge of resolving debt problems needs to be addressed, with specific measures put in place for each debt category. This requires cooperation from all sectors, including the government, financial institutions, relevant private sector organisations, and the public, he said.

Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), added that besides attracting foreign investors to Thailand, the government has also succeeded in negotiating free trade agreements with more trade partners, including the European Free Trade Association (EFTA).

“The government has passed the test in foreign trade promotion,” he said. “However, there are areas that still need to be urgently addressed, such as stimulating the economy and reducing costs for businesses, including electricity and energy costs.”

Kriengkrai urged the government to allow the private sector, which uses a significant amount of electricity, to participate in the energy price restructuring of the Energy Regulatory Commission, so that businesses can compete sustainably.

The FTI chairman also urged the government to increase ease of doing business by abolishing outdated laws and regulations, and increase inspections of imported goods to prevent the influx of cheap, substandard or falsely declared products that could harm domestic businesses.