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Intellasia East Asia News – Winning parties urged to move fast

The business sector is calling for a new government to be established quickly and for the coalition parties to agree on their policies, saying this will greatly affect the country’s confidence.

“As for the policies of the leading and participating parties, we have to wait and see which political parties will be part of the government. There are likely to be discussions and agreements on each party’s policies before announcing them to parliament, which will clarify the policies. However, if we look at the party that has a chance to form a government early on, what we will probably see as the focus is the acceleration of legal reforms and various welfare policies,” said Sanan Angubolkul, president of the Chamber of Commerce of Thailand. .

However, according to Sanan, the notable observation in this election is that no party won overwhelmingly, allowing the two main parties to unite or the new government to come in various formulas. “However, today, all sectors want to see a stable government that can govern continuously without interruption,” he said.

From the perspective of the private sector, Sanan said it is considered normal to see young people taking leadership roles in the country.

“Many countries have young leaders, like England, France and Canada. However, what is important is the integration of trained and knowledgeable people in the government of the country, just as it happens today in the business sector, where we see a considerable number of young successful entrepreneurs, ”he said.

According to Sanan, this election also clearly shows that the public is highly engaged, with nearly 40 million people exercising their voting rights, exceeding 75 percent of eligible voters, representing 52 million people.

“What is evident is that people of all ages have made the decision to vote for the two major parties, exceeding 50 percent in the party list system, indicating that the majority of the population wants to see a change” he added.


Chaichan Chareonsuk, president of the National Shippers’ Council of Thailand, said the council wants the new administration and elected politicians to put the nation’s interests first and expedite their efforts, particularly to establish stability and reduce conflicts.

He said that the stability of the government will generate great confidence among foreign investors and a flourishing tourism industry due to the absence of conflicts, thus generating more revenue for Thailand.

Regarding exports, the private sector has also called on the new government to address production costs such as electricity bills and energy expenses, and provide liquidity support to small and medium-sized businesses. This is crucial as major export markets including the US, Europe and China are experiencing a slowdown.

In addition, it is critical to foster and maintain relations with countries in the Middle East, for example, through the Thailand-UAE Free Trade Agreement (FTA) along with the Thailand-EU FTA.

According to Chaichan, the private sector and the government sector have been working together to carry out the export stimulus plan in the second half of the year. A joint meeting is scheduled for May 25.


Choosri Kietkajornkul, chief executive of Ratch Group Plc, Thailand’s second-largest private power producer by capacity, said Thailand needs to address its high electricity prices, but any government plans to cut power rates must be carefully considered. , making sure they are fair for energy. companies.

He was referring to an idea suggested by energy advocates, who called on authorities to review power purchase agreements (PPAs) made with power companies.

The agreements, each with a duration of 25 years, commit the Electricity Generating Authority of Thailand (Egat) to pay for the electricity for the entire period. This is known as “pay for availability” (AP), although actual usage may be less during the agreed period of time.

An AP ensures that electricity is always available to avoid blackouts, but increases the energy fee.

AP is one of the factors blamed for expensive energy bills.

If the new government wants to look into this matter, it should carefully consider whether or not to adjust parts of the PPA to avoid a negative impact on power producers, because a PPA is done under international standards, Ms Choosri said.

A PPA review may raise concerns among loan providers to power companies, which may eventually affect their financial credit, he said.

The Indonesian government previously tried to control electricity bills during the 1997 financial crisis by delaying electricity payments to power companies. But the method was temporary and lasted only three years, according to Ms. Choosri.

One way to curb rising Thai electricity rates would be to delay plans to build new power plants as electricity costs rise, Ms Choosri said.


Chavinda Hanratanakool, chief executive of Krungthai Asset Management and chairwoman of Asset Investment Management Companies, said she recognized the Move Forward Party’s policy focus on the welfare of the Thai people, but would like to hear more economic policies, especially those related to the capital market. , which is vital for the economic growth of the country.

“I would like to hear your plan on budget spending, which needs to be balanced with revenue management to create long-term financial stability and investment confidence. The increase in government revenue should not create a huge burden for consumers who are already bearing high living costs now,” he told the Bangkok Post.

“We also want the government to allow government agencies to remain independent. The government must respect independent organizations, be they economic or social agencies, without intervention because it could affect their credibility and jeopardize trust.”

The social and economic restructuring that the Adelante Party wants must be done step by step to avoid generating any conflict so that society can remain in peace, he said.

Finance ministers are important and must have special knowledge and experience with the ability to manage the economy seamlessly amid risks of recession from outside Thailand, Ms Chavinda said, adding that fiscal stability must be maintained and that the baht should be managed and not fluctuate too much. .

A change of government and policy will cause concern among investors, he said, but the business sector awaits the formation of the new administration and hopes that everything will continue without economic collapse.

Category: thailand

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