BANGKOK: Prime Minister (PM) and Interior Minister Anutin Charnvirakul met with the Thai Bankers’ Association and commercial bank executives together with his economic team, marking the first formal meeting between a Thai PM and the bank association in 58 years.
The meeting was aimed at securing cooperation to address grassroots economic challenges, from household and small and medium enterprises (SMEs) debt to injecting liquidity into the market.
The government outlined its Quick Big Win plan to accelerate economic recovery and enhance Thailand’s competitiveness regionally and globally.
After the meeting, the prime minister said the government sought the association’s support on three key issues: household debt, SME debt, and overall financial obligations.
The authorities are requesting that banks ease processes and speed up interventions to resolve outstanding debt and ensure liquidity for clients, who still have production capacity to supply the market.
Regarding liquidity, the government urged banks to increase the flow of funds into the system.
Without fresh capital, existing funds could be lost, and it is the banks’ responsibility to assess risks carefully, they said.
At the same time, business operators must adapt to stay competitive. Many remain attached to traditional methods while competitors are evolving.
Companies must enhance product value, improve production efficiency, and lower costs.
The government is working to support wider market access for Thai products.
Discussions with Commerce Minister Suphajee Suthumpun pointed that Thailand cannot rely solely on its largest trading partners and must diversify exports.
The government aimed to support producers and exporters of Thailand-branded goods to ensure recognition and trust in global markets.
The prime minister also acknowledged bankers’ concerns about Asean and global competition.
The government’s economic team, with extensive financial experience, plans to implement the pointers promptly.
Additionally, the government will focus on enhancing Thailand’s key sectors, including tourism and services, medical wellness, agriculture – supporting producers, processors, and farmers – as well as the automotive and high-tech industries, which have sufficient capacity for expansion.
Anutin revealed that the draft government policy has been finalised.
After consultations with the private sector, including the Thai Bankers’ Association, the Thai Chamber of Commerce, the Federation of Thai Industries, and the public, the policy has been adjusted to reflect the needs of all stakeholders.
It covers national security, social issues, the economy, citizens’ livelihoods and the government’s operational plan.
The government has pledged to dissolve parliament within four months.
Given that the current parliamentary session ends in late October 2025, there will not be sufficient time to introduce new legislation. Therefore, the government will make full use of existing laws.
Any criminal activity that undermines the economy or violates the law, whether domestic or cross-border, will be dealt with strictly under current legislation.
Regarding participation in the United Nations General Assembly, the matter is under consideration, pending the Speaker of the House’s scheduling of the policy statement. — The Nation/ANN
