They spoke with The Nation about their hopes and suggestions for the upcoming administration 21 days before the general election.
Each party has released a variety of ideas in the lead-up to the election, promising Thai citizens a better quality of life.
The executives from various industries concurred that all political parties had the best of intentions when it came to governing the nation.
They did, however, assert that it is too soon to determine which policy would be preferable.
They made it clear that while these measures could look promising on paper, there was no certainty the claims would be supported by the outcomes. Therefore, more evidence is needed to show the advantages of these measures.
They hoped that everyone would keep their word and do what was required to make those policies a reality.
Regulations are altered
According to Chompoonoot Pathomporn, chief executive officer of LH Bank, Thailand’s economy is presently exhibiting encouraging signals of growth as a result of the efforts of the current administration and the public sector to take all necessary measures to maintain the economy.
Nevertheless, she stated that in order to make doing business simpler, she would want to see the new administration take some rules into consideration.
According to her, the legislation ought to be streamlined and made less onerous for both Thai citizens and foreign companies.
Kriangkrai Thiennukul, head of the Federation of Thai Industries, who has long lamented Thailand’s burdensome corporate laws and regulations, echoed her sentiments. Due to these challenges, foreign businesses choose to invest in Thailand’s neighbor instead of the monarchy.
Assistance to SMEs
CEO of Warrix Wisan Wanasaksrisakul expressed his desire for SMEs to continue expanding under the new administration.
He pointed out that prior government support measures for SMEs had been somewhat vague. Money was being dispersed without the required plans and regulations. Because of this, he said, it was not unexpected that SMEs had failed and that the government had wasted the country’s resources.
He suggested that the government take his suggestion for a “SMEs National Score” into consideration.
He added that the government must set up big data to collect information on Thai SMEs in order to understand how healthy their firms are, the issues they encounter, and what they truly need to do to advance. He compared the approach to how students are rewarded in schools for achieving good grades.
Big data, according to him, will improve revenue collection for the government.
As a formal SME producing sportswear, Wisan said he is aware of how challenging it is for Thai SMEs to expand and establish themselves as major organizations.
addressing the financial issue
“The government needs to make it easier for SMEs to access bank financing sources. A policy must be in place to aid SMEs in securing funding for the creation of software or technology. According to him, this will help SMEs develop their own power and competitiveness as well as long-term sustainable growth, which will be advantageous for Thailand’s overall economic growth.
He thinks Thai SMEs have great concepts and the ability to compete.
Sadly, the most of them were underfunded and ultimately failed. Meanwhile, a dearth of competent advisors prevents several family businesses with healthy budgets from turning around.
According to him, the government should have support plans with distinct tactics, a plethora of insightful data, and instructions for the efficient use of resources.
To encourage free and fair competition, I would want to see the government pursue systematic financial liberalization. By allowing international banks to compete, SMEs would have more options for obtaining capital at rates lower than the present average of about 6%, according to Wisan.
Let the states determine the minimum wage
Grab Thailand’s country chief, Worachat Luxkanalode, stated that he was worried about minimum wage laws.
He concurred that the minimum wage needed to be increased in order for workers to manage the rising cost of living brought on by inflation and high energy prices.
But he emphasized that not every company could afford to raise pay at the same rate.
He counseled the incoming administration to develop precise standards and norms for compensation increases at each company.
In addition, he urged that the national government let the province governor decide what salary rate is best for them.
enhancing aviation
Regardless of whatever party forms the new administration, Patee Sararin, CEO and co-founder of Thai full-service airline Really Cool, expects things to become better and stay better.
“I personally can’t wait to collaborate with the next administration. I’m willing to go above and above to serve the needs of the nation,” he said.
He stated that he would like to serve as a consultant at the Ministry of Transport, where he could use his more than 30 years of expertise in the airline sector to advance Thai aviation.
According to him, Thailand’s aviation industry is still not up to par with international norms, which makes it vulnerable to foreign exploitation.
“We cannot repeat the same mistake and return to the previous standards now that our aviation industry is recovering. We must get better and better ourselves. In order to draw in more tourists and boost the country’s earnings from tourism and the service sector, Thai aviation needs to make a number of changes, according to Patee.
The general election in Thailand will occur on May 14. There are more than 6,000 candidates vying for seats in the House of Representatives, representing over 70 parties.
