PM urges Thai industry representatives to adjust to “new normal”

PM Prayut Chan-o-cha is urging Thai business representatives to accept and adapt to the new way of doing things in the aftermath of the Covid-19 crisis. He was speaking during a meeting with the Federation of Thai Industries, where he called for the private and civil sectors to work with the government to get the economy going again.

In talks with FTI President Supant Mongkolsuthree, the PM says the government continues to balance long term economic recovery with dealing with the Covid-19 situation, and that to be successful in meeting these challenges, full cooperation is needed between businesses, the government and the public. The PM says transparency is now key as the country’s economy is restarted.

The PM points out that his administration has put several measures in place to help Thai businesses, including cutting electricity charges by 5%, reducing their social security contributions to 1%, and providing assistance with obtaining bank loans and state funding. The government has also asked the Bank of Thailand to provide struggling small and medium-sized businesses with soft loans to help tide them over.

Mr. Supant says he recognises the help provided by the government and commends the current administration on how it has dealt with the Covid crisis. Thailand’s handling of the situation has been lauded in a number of international media outlets, with the FTI president saying he feels confident the country will once again be viewed as a favourable option both for investment and tourism.

SOURCE: National News Bureau of Thailand