Thai Chamber of Commerce presents solution to strengthen economy

The Thai Chamber of Commerce (TCC) is presenting Prime Minister Prayut Chan-o-cha with a white paper on how to “connect the dots” and achieve strength in the economy, chamber chairman Sanan Angubolkul said on Sunday.

Under the strategy, the TCC is positioned at the centre of the “dot connecting” design, bringing together the government, private sector and the people.

The main idea purpose was to upgrade the Covid-19 battered economy and ensure its growth can be sustained, Mr Sanan said.

The goal can be met by driving three value chains: trade and investments, the farm and food sectors, and tourism and services.

The goal was highlighted at the TCC’s 39th general assembly with a conclusion from the meeting incorporated in the white paper. It will be presented to Gen Prayut.

The framework reached at the meeting builds on the TCC’s guidelines set out to revitalise the economy within 99 days of Mr Sanan’s tenure as TCC chairman in March.

The guidelines were adopted to boost confidence in the economy and resolve problems such as labour shortages and financial and operational constraints faced by businesses, especially small and medium enterprises (SMEs).

Raising economic strength involves connecting the TCC’s five regional branches where members are allowed to convey their opinions on how to overcome the pandemic crisis and keep up the pace of progress through a collaborative approach.

This calls for economic strategies mapped out by the regional offices, which are consistent with the national economic and social development plan and the government’s 20-year national strategy.

Mr Sanan added there is also a “Connect SMEs” plan implemented by the digital transformation of more than three million SME businesses in the country.

The SMEs employ 12 million people around the country and generate 5.3 trillion baht or 34.2% of GDP. However, the sector remains uncompetitive as it lacks equipment and logistical technology with many businesses heavily indebted and unable to access finance.

Mr Sanan said members of the younger generation are given roles in setting the country’s economic direction through adoption of the design thinking concept.

The input was gathered from young people in the private and government sectors by the Thai Chamber of Commerce University.

The input includes educating and training employees and employers to embrace change and tackle social issues such as social discrepancies and income distribution.

Source : The Thai Chamber of Commerce (TCC)

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