BANGKOK, Thailand – Thailand’s private sector is closely monitoring the policies of the newly appointed Cabinet, urging the government to implement the Federation of Thai Industries’ (FTI) “5 urgent proposals” to address both short- and long-term economic challenges. FTI emphasizes that results should be visible within the first four months of the administration.
Kriangkrai Thianukul, Chairman of the FTI, said the new Cabinet under Prime Minister Anutin Charnvirakul is a mix of politicians, academics, civil servants, and private-sector executives, marking an important starting point for setting the country’s economic, industrial, and investment direction amid domestic and international challenges.
“The industrial sector is paying close attention to this government because it is a critical period for economic recovery. Global competition in technology, energy, and environmental standards is intensifying. Everyone expects the government to work cohesively, with clear and continuous policies to enhance Thailand’s competitiveness,” Kriangkrai said.
Following a discussion with Prime Minister Anutin and his team on Sept. 15, and the royal appointment of the new Cabinet on Sept. 19, the FTI noted that the economic team is largely consistent with previous discussions and aligned on policy direction.
Given the challenging first four months, the FTI emphasized the need for cooperation, determination, and teamwork from Cabinet members. They urged the government to apply the “5 urgent proposals” previously presented by the FTI as measures to resolve economic issues in both the short and long term:
- Preparation for U.S. import measures and trade tensions – Coordinated action among relevant ministries is critical.
- Promotion of financial liquidity and SME access to funding.
- Electricity cost restructuring – Reduce energy costs for both households and industrial operators while developing stable and sufficient energy infrastructure and promoting clean energy to support global competitiveness and environmental standards.
- Addressing the impact of Thai-Cambodian border trade issues – Swift negotiations, relief measures for affected businesses, and alternative transport routes are needed for both short- and long-term solutions.
- Managing the impact of a strong Thai baht – Address unusual capital inflows that may be contributing to overvaluation, ensuring economic stability.
In addition, the FTI aims to elevate Thai industries and support new target sectors in partnership with the Ministry of Industry, including electric vehicles (EVs), the Bio-Circular-Green Economy (BCG), digital technology, and biotechnology, to enhance production value and global competitiveness.
Labor development is another priority, with FTI collaborating with the Ministry of Labor to upskill, reskill, and train new skills for Thai workers in digital, advanced technology, and green industries, preparing a high-quality workforce for the future.
Digital infrastructure development, including 5G–6G networks, AI, IoT, and cybersecurity measures, is emphasized to strengthen business and industrial competitiveness, under the Ministry of Digital Economy and Society.
Innovation is also a central driver, with the Ministry of Higher Education, Science, Research and Innovation supporting targeted innovation using Thailand’s strengths—such as biodiversity—to develop smart agriculture and supply inputs for target industries, boosting farmer incomes. AI and data analytics will also be leveraged to improve workforce skills and prepare workers for the evolving industrial landscape.
The FTI stressed the importance of increasing product value and differentiation through innovation, rather than competing solely on price, ensuring Thai goods remain competitive globally.
In tourism and sports, the FTI recommended proactive marketing measures to restore confidence and attract visitors, including promoting secondary cities to distribute income more broadly. In the long term, safety infrastructure should be improved, high-value tourism revitalized, and MICE (Meetings, Incentives, Conferences, Exhibitions) industries supported to generate revenue and stimulate local economies.
“Within the first four months, we need to see quick-win results, and in the following four months, focus on continuity,” Kriangkrai said. “The most important thing is to translate policy into continuous and clear action. If the government can achieve this, it will build investor confidence and strengthen Thailand’s economy,” he added.
