Thai Business Leaders Call for Swift Action and Confidence Restoration After Earthquake

The Thai Chamber of Commerce (TCC) and the Board of Trade of Thailand have issued a statement on Monday urging swift action and a concerted effort to restore public and business confidence in the wake of the recent earthquake that originated in Myanmar and impacted numerous areas of Thailand.

Expressing deep condolences to the bereaved families and those affected, the organisations highlighted the latest figures from the Erawan Medical Emergency Center, which reported 18 fatalities, 33 injuries, and 78 missing persons as of March 30th.

Economic repercussions are also a concern, with Thanawat Polvichai, president of the Economic and Business Forecasting Center at the University of the Thai Chamber of Commerce, estimating potential losses of 3 to 5 billion baht due to reduced consumer spending and property damage.

Poj Aramwattananont

The Chamber of Commerce commended the swift response of the Bangkok Metropolitan Administration (BMA) in establishing an incident command centre and deploying expert engineers to assess building safety. They called for similar coordination mechanisms to be implemented in all affected provinces.

Furthermore, they praised the Bank of Thailand, commercial banks, and insurance agencies for their rapid implementation of debt relief and insurance claim measures to support affected individuals and businesses.
 

To ensure long-term stability and resilience, the organisations proposed a series of recommendations to the government and private sector. These include:

• Expedited rescue operations and thorough investigations.
• Mandatory structural inspections of buildings nationwide.
• The establishment of a public disaster warning system and emergency response plans.
• Enhanced building design and construction standards.
• Accelerated relief measures for SMEs.
• Proactive and transparent public communication.
• The establishment of a central government communication agency.
• The creation of a Chamber of Commerce support centre for SMEs.

"We urge the government and private sector to work together to restore confidence and drive Thailand's economy forward," said TCC Chairman Poj Aramwattananont. "By implementing these measures, we can ensure the safety of our citizens and the resilience of our businesses."

The organisations emphasised their commitment to supporting their members and contributing to Thailand's stable and sustainable recovery.