Digital wallet delay: No green light before year-end
The highly anticipated second phase of Thailand’s digital wallet initiative is on ice, with Deputy Prime Minister and Finance Minister Pichai Chunhavajira revealing that it’s unlikely to roll out before the end of the year.
In a brief meeting with the press today, Pichai highlighted the need for a cautious approach, stressing that factors like timing and continuity must be thoroughly evaluated before pushing ahead.
When quizzed about the fate of the leftover funds, Pichai hinted that the government may be eyeing alternative investments. He pointed to small-scale infrastructure projects as a potential avenue, stating that such investments could play a pivotal role in strengthening the nation’s economy and bolstering its infrastructure.
“The government is committed to the digital wallet initiative.”
However, Pichai was quick to add that long-term benefits take precedence.
“We must prioritise projects that will have a lasting impact on the country.”
While the digital wallet remains a key policy, Pichai emphasised that no decisions would be made lightly. Each investment will be scrutinised to ensure it contributes meaningfully to the nation’s development.
With no firm date set for the digital wallet’s second phase, the government appears to be rethinking its strategy, focusing on investments that could offer more immediate and sustainable returns for Thailand, reported The Nation.
This policy will be officially presented to Parliament over two days, starting today, as mandated by the constitution, before the government can begin its work.
In other news, Pichai Naripthaphan, a businessman-turned-politician, is stepping into the hot seat as Thailand’s new Commerce Minister at a time when the nation’s economy teeters on the edge of disaster. With sky-high expectations from every corner, Pichai faces the daunting task of steering the country out of economic turbulence.
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