The private sector is hoping that the new government will be able to solve cost of living problems and enhance Thailand’s competitiveness by improving infrastructure of the country and facilitating the operation of the private sector.
Land and House Chairperson and President Anant Asavabhokhin expressed his hope that the country would move forward democratically as the House of Representatives had been dissolved while a new election would be arranged in a free and fair manner, which would be able to boost confidence of the private sector. Asked for expectations on the new government, Mr Anant responded that he had no specific hope since the private sector so far had been the major economic driving force while the government should focus on solving the high living costs for people.
He suggested that the new government should help boost the potential and competitiveness of the private sector by reducing corporate and personal income taxes since tax rates were high and not attractive for investment at all.
Meanwhile, Asia Plus Securities CEO Kongkiat Opaswongkarn rated the Democrat-led government’s performance as fair, reasoning that some populist policies were effective while some could not reach the heart of the grassroots at all and needed further improvement. Mr Kongkiat then suggested that the government should focus on long-term investment on public utilities to strengthen the economic foundation.
He then asked all sides to accept the election result because the country could not go further if no one accepted the election result. The CEO also admitted that he wanted a government which could work continuously without frequent changes because the private sector had to adjust itself every time there was a new government. Those are just a few viewpoints from some business executives hoping to see a better Thailand after the election. It is obvious that they also want the national infrastructure system to be improved.
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.(more…)
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...