In a recent government policy statement, Mr. Pichai highlighted that the new administration stands to benefit from the ongoing trade war between the United States and China, both of which are allies of Thailand.
He noted that over the past year, 150 billion baht has been invested in Thailand’s printed circuit board (PCB) industry, and he anticipates that this figure could increase to hundreds of billions, potentially reaching a trillion baht, which would draw numerous PCB companies to the nation.
Mr. Pichai emphasized that foreign investors are keen on Thailand due to its adequate and stable supply of electrical energy and hydropower.
He believes that Thailand’s economy is on the verge of recovery, positioning the country as an economic hub capable of attracting investments from powerful nations.
“We aim to cultivate positive relations with both China and America. By maintaining neutrality, we can draw investment and trade opportunities. The fact that Thailand is well-regarded by all sides gives us a developmental advantage,” he stated.
Mr. Pichai urged the public not to view imports from China negatively, stressing the importance of fostering a positive outlook. He indicated that the Commerce Ministry has engaged in discussions with 28 agencies and concluded that promoting safety and ensuring imports meet global standards are key steps in this initiative.
Additionally, Mr. Pichai revealed that the government is engaged in further negotiations regarding potential free trade agreements and is in talks with India about increasing exports to that market.
Meanwhile, Deputy Finance Minister Paopoom Rojanasakul proposed three strategies to stimulate the economy: adopting demand-side economics, categorizing the nation’s debts into three groups—household debt, business-sector debt, and government debt—and encouraging more overseas investment.
