Thailand aims domestic industrial components revival via ‘New Normal’ list of subsidies

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Prime Minister Prayut Chan-o-cha (right), FTI chairman Supant Mongkolsuthree (left).
Prime Minister Prayut Chan-o-cha (right), FTI chairman Supant Mongkolsuthree (left).

Prime Minister Prayut Chan-o-cha discussed his idea of New Normal national administration with representatives of the Federation of Thai Industries (FTI) and received a positive response from the latter.



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Gen Prayut met FTI’s executives including its chairman Supant Mongkolsuthree to discuss the ‘New Normal’ way of Thai industrial development amid the coronavirus disease 2019 (COVID-19) pandemic.

Prime Minister Prayut Chan-o-cha met FTI’s executives to discuss the ‘New Normal’ way of Thai industrial development amid the pandemic.
Prime Minister Prayut Chan-o-cha met FTI’s executives to discuss the ‘New Normal’ way of Thai industrial development amid the pandemic.

The prime minister said that the government was trying to solve long-term problems and relieve the impacts of COVID-19. It issued compensation and rehabilitation measures including reduction in the fees of electricity, land ownership transfers, property mortgages. It also cuts the contributions of employers and employees to the Social Security Fund to sustain employment and supports operators in accessing finance from state-run financial institutions including the Bank of Thailand.

“Now it is the New Normal way of work seeing cooperation among the government, the private sector and people. Problems and obstacles are reduced and transparency is emphasized. It is a truly new chapter of work for Thailand,” the prime minister said.

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FTI chairman Supant said he was impressed with Gen Prayut’s announcement on the New Normal work and direct and straightforward talks with the private sector.

Thailand was changing the COVID-19 crisis into opportunities after its internationally recognized achievement in controlling the disease, he said.

Thailand would become an interest destination for investors and tourists in the Post COVID-19 era, Mr Supant said. (TNA)