Bangkok: Anutin Charnvirakul, Prime Minister of Thailand, expressed appreciation for the warm welcome he received from the Thai Bankers' Association during a recent discussion, where he urged for cooperative efforts to ease regulations and support debtors. He emphasized the government's commitment to strengthening the Thai banking sector's position as a leader in ASEAN and enhancing its competitiveness in the global market.
According to Thai News Agency, the meeting with the Thai Bankers' Association covered a spectrum of issues pertinent to the government's agenda, with a particular focus on consumer debt, SME debt, and household debt. Prime Minister Anutin sought the Association's cooperation in enhancing liquidity for customers with productive potential and gathered insights on their concerns. The dialogue also addressed strategies to rejuvenate Thailand's banking system, which has historically been prominent in ASEAN, amidst evolving global business practices.
Prime Minister Anutin, along with his ministerial team, listened to various proposals and committed to expediting governmental actions where feasible. He highlighted the role of Deputy Prime Minister and Minister of Finance, Ekniti Nitithanpraphas, in approving and implementing these proposals. Confidence was expressed in the economic team and the association's ability to swiftly operationalize the discussions, driving efforts to bolster Thailand's economic potential, particularly in the tourism sector, which is the nation's largest income source. The expansion of the service sector, medical care, agriculture, and high-tech industries were also underscored as critical areas for economic growth.
Regarding liquidity enhancement, Prime Minister Anutin discussed the necessity for special measures and requested the association's cooperation in infusing more capital into the system, stressing the importance of assessing debtor and customer potential. He pointed out that while banks are prepared to issue loans, the efficiency of entrepreneurs is a determining factor, given the competitive landscape. He urged Thai entrepreneurs to innovate and enhance product efficiency and cost-effectiveness to remain competitive.
Prime Minister Anutin also emphasized the need for diversified distribution channels to support increased lending by banks. Discussions with the Minister of Commerce highlighted the importance of exploring new markets for Thai products, leveraging the country's manufacturing capabilities. He stressed that Thai products must be globally marketable, reinforcing the urgency for government support to ensure the global acceptance and credibility of rebranded Thai goods.