Sanan Angubolkul, Chairman of the Thai Chamber of Commerce (TCC), has recently shared insights from discussions with the TCC committee and the University of the Thai Chamber of Commerce in an academic capacity.
The focus is on stimulating the economy through the government’s upcoming policy to provide a 10,000-baht stipend through the proposed digital wallet program. The government is currently in the process of finalizing the details of this initiative, taking into consideration feedback from various sectors to refine the project to align with its goals.
The TCC believes that the initiative can be executed and fully supports measures to quickly and sustainably rejuvenate the economy. However, the government needs to enhance the country’s competitive capabilities across various dimensions simultaneously to ensure balanced economic growth. With the country facing budgetary constraints, it is imperative for the government to ensure maximum economic benefit from its expenditure.
Key suggestions are as follows:
- The TCC emphasizes the importance of establishing an efficient financial infrastructure for the distribution of digital money. Therefore, they propose leveraging the existing system of Krungthai Bank, a state-controlled bank, which already has around 40 million registered users making transactions via its application. This can be combined with digital platforms and wallets developed by other agencies to create a hybrid system, facilitating digital payments through various channels.
- The TCC urges the government to prioritize other areas of national management and development alongside short-term economic stimulation. This includes enhancing production capabilities, a crucial factor for economic recovery. Specifically, water management projects should be highlighted to address the El Ni?o phenomenon which is expected to impact the country this year and the next. (NNT)
