12-9-2024 (BANGKOK) Prime Minister Paetongtarn Shinawatra has set out a bold vision for Thailand’s economic revival and social improvement, presenting a comprehensive 10-point strategy to Parliament on Thursday. The newly-formed government’s urgent policy agenda aims to address critical issues plaguing the nation, from mounting debt to escalating living costs.
In her address to legislators, Shinawatra emphasised the pressing need to alleviate the struggles faced by Thai citizens. “Our administration recognises the imperative to swiftly tackle the challenges burdening our people, including overwhelming debt, soaring expenses, and threats to social security,” the Prime Minister stated.
The cornerstone of the government’s approach is to “accelerate the creation of opportunities and economic equality,” Shinawatra explained. This multifaceted strategy encompasses debt crisis resolution, cost of living reduction, income enhancement, and addressing social security concerns.
The 10-point plan, designed to restore public confidence, includes:
- Debt Restructuring: A focus on home and auto loans, coupled with nationwide financial literacy initiatives.
- Fair Competition: Protecting Thai entrepreneurs, particularly in the digital marketplace, and supporting small and medium enterprises through debt relief measures.
- Utility Cost Reduction: Energy price restructuring and mass transit development, including potential negotiations with Cambodia over Gulf of Thailand resources.
- Tax Collection Reform: Targeting informal and underground businesses to fund education, healthcare, and utilities.
- Economic Stimulus: Implementation of a digital wallet scheme to boost the digital economy and develop a public data centre.
- Agricultural Modernisation: Adoption of precision farming and food technology to enhance food security and farmer incomes.
- Tourism Revitalisation: Streamlining visa processes and promoting both natural and man-made attractions.
- Narcotics Crackdown: Comprehensive approach to drug production, distribution, and rehabilitation.
- Crime Prevention: Targeting domestic and transnational criminal activities, with a focus on cybercrime.
- Social Development: Skill enhancement and welfare provision, with particular attention to marginalised groups.
