“Perceive me not as a politician today, but as an entrepreneurial figure steering Thailand towards a better future,” articulated Srettha, while delivering his address at the “Thailand Economic Outlook 2024: Change the Future Today” gathering in Bangkok, a Wednesday not long ago.
The occasion marking the 36th anniversary of the Thai-language business cornerstone, Krungthep Turakij, was held at the sophisticated Waldorf Astoria Hotel.
“I perceive myself as a salesperson. I carry the responsibility of amplifying the value of Thailand’s eclectic product range and to elevate investor sentiment in the process. This is my unmistakable role as the country’s top-rated sales agent,” he proclaimed.
During his meticulously articulated address on “The Big Change: Empowering Thailand’s Economy,” Srettha communicated his sentiment akin to that of many business magnates. He visualizes Thailand as an aging vehicle, apt yet lagging compared to its global counterparts.
He was candid, expressing no necessity to delve into past governance attributes, given the understood hardships and restrictions previously faced. Rather, he professed, the collective impetus across all sectors should focus on luring foreign investment, with his government playing a constructive role in facilitating business discussions with diverse nations.
He voiced a plea to publicly held corporations to embrace a more active role, hinting at his aspiration for the Stock Exchange of Thailand’s involvement in promotional activities, and effectively transmitting signals that Thailand presents a lucrative investment landscape.
He advocated for communal collaboration, encompassing both public and private sectors, to foster investor trust. Moreover, his government intends to revamp Thai commercial outfits and steer the nation into a brighter economic era.
With a clear understanding of Thailand’s antiquated regulations, causing the nation to be less competitive than neighboring countries, Srettha emphasized the urgency of law amendments, pinpointing it as the nation’s largest coarse of action.
On restructuring economy
Weighing in on the requirements of the agricultural realm, he expressed a need for overhauling. In contradiction to policies comprising debt deferment and crop cost reassurances, he prescribes that the governmental machine should derive strategies to aid farmers in boosting their revenues, resulting in repaying their obligations. His ambitions include tripling their earnings in a four-year timeframe.
Added to his governmental priorities is water management. He expressed optimism towards the growth of the agricultural sector if Thailand successfully establishes an effective mechanism to handle drought and flooding situations.
“We aim to penetrate new markets, particularly ones lacking in food security. This approach will considerably uplift Thailand’s food security status,” affirmed Srettha.
Lastly, he touched upon the fishery sector, experiencing an economic deficit as Thailand’s seafood imports drastically outweigh its exports. Srettha proposed renegotiating the IUU (illegal, unreported, and unregulated fishing) agreement with the European Union, for a balance beneficial to both parties.