Bangkok: The private sector is optimistic that the Anutin Charnvirakul-led government will address pressing economic issues and improve livelihoods, particularly aiding small and medium enterprises (SMEs) in navigating ongoing crises. Mr. Kriangkrai Thienukul, Chairman of the Federation of Thai Industries (FTI), commented positively on the new cabinet members, expressing hope for cohesive efforts alongside coalition parties.
According to Thai News Agency, the FTI had previously emphasized the need for an economic team comprising experienced and ethical individuals capable of making swift decisions. The new cabinet list includes Mr. Ekniti Nitithanpraphat as Minister of Finance and Deputy Prime Minister for Economic Affairs, recognized for his extensive experience in the Ministry of Finance and proficiency in digital technology advancements. The presence of Mr. Woraphat Thanyawong as Deputy Minister, with his financial expertise, further strengthens confidence in the cabinet's capacity to promptly address economic challenges.
The appointment of Mr. Sihasak Phuangketkaew as Foreign Minister, known for his deep understanding and connections within the Ministry of Foreign Affairs, is seen as a positive development. Meanwhile, Ms. Suphajee Suthumpun, CEO of Dusit Thani Public Company Limited, takes on the role of Minister of Commerce, although her lack of civil service experience may require an adjustment period.
Collaboration among relevant ministries, including the Ministry of Industry, Ministry of Tourism, Ministry of Agriculture, and Ministry of Digital Economy and Society, is deemed crucial. However, the coalition parties' differing agendas present challenges in ensuring a unified workflow. The pressing economic concerns, such as restoring purchasing power, reducing living costs, increasing income, and addressing household debt, demand urgent attention. Additionally, supporting the export sector amid external challenges is vital. The ongoing conflict between Thailand and Cambodia exacerbates trade issues, impacting the supply chain and investment, with losses amounting to 500 million baht daily.
The focus remains on fostering collaboration between outside ministers and coalition party representatives to address financial issues and SME loans promptly. The private sector stresses the importance of a unified approach to mitigate economic challenges and stimulate growth.