Thailand’s private sector pushes for formation of new government
Thailand’s private sector has said it wants to see the new government to be formed as soon as possible so the economy can continue growing.
Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), said on Friday that the delay in forming the government will affect investors’ confidence and stall progress. The Thai stock market has also not picked up since the election, he added.
He added that he believes Move Forward Party’s policies will help revive Thailand’s economy in the fallout of the Covid-19 pandemic. These policies include amending outdated laws, improving people’s quality of life and promoting education.
The TCC chairman also said it that the planned coalition with new-generation politicians from Move Forward and political and economic veterans from Pheu Thai would be interesting. Pheu Thai is among the eight parties joining the Move Forward-led coalition.
He added that the Thai private sector also wants to see four policies that will support business operations implemented, including reducing business costs and people’s cost of living; making access to loans easier for startups and SMEs; stimulating community-level economy; and improving infrastructure, especially in the digital field. These, Sanan said, will help upgrade the country’s competitiveness at regional and global levels.
Sanan added that TCC executives and members of the Board of Trade, who met in Trang last Thursday, expressed concern that if a new government is formed later than August, it would delay discussions on the 2024 fiscal budget and defer its disbursement to March next year.
The Election Commission is expected to announce the list of elected members of the House of Representatives within 60 days after the May 14 election. Once the list of MPs is announced, voting for Thailand’s 30th prime minister will start in 30 days.
