Federation of Thai Industries Supports New Government, Calls for Professional Economic Team to Restore Investor Confidence

Kriangkrai Thiennukul, Chairman of the Federation of Thai Industries, stated that political stability is crucial for economic driving. If the government can secure over 300 parliamentary votes, it will enable smooth policy implementation, reduce political friction, and increase confidence among domestic and international investors. He highlighted the importance of 'economic policy continuity', especially the collaborative mechanism between the government's economic team and the three private sector institutions. Kriangkrai suggested that the new government should build upon the existing effective team while adding professional personnel to economic ministries to ensure comprehensive and efficient work. Kriangkrai warned that 2024 will be a highly challenging year for the Thai economy, with global economic risks and low projected growth rates. He stressed the urgent need for economic recovery measures, focusing on addressing people's economic hardships through short-term, medium-term, and long-term structural economic adjustments. Moreover, he emphasized that combating corruption must go hand in hand with economic stimulation, viewing it as a structural problem that erodes the economic system. Kriangkrai expressed concerns about the large informal economy and low-quality, cheap imported goods severely impacting Thai industries.