TCC Outlines 3-Point Revival Plan for Thai Economy


The Thai Chamber of Commerce has laid out a comprehensive three-point plan, urging the newly appointed government led by PM Srettha Thavisin to take swift actions aimed at revitalizing the economy and the tourism sector.

Chamber Chairman Sanan Angubolkul emphasized the significance of immediate measures and accelerated budget disbursements to address the current economic challenges. Sanan made clear the critical importance of prioritizing specific actions during the initial 100 days of the new government’s term, urging the new government to address the pressing need for stimulus packages intended to alleviate the burden of living costs on citizens and production expenses for businesses.

The new administration has also been urged to quickly facilitate visa issuance for Chinese tourists and address the escalating demand for foreign tourists through increased flight availability. These proactive measures are particularly crucial considering the final quarter’s significance as Thailand’s peak tourism season, thus playing a pivotal role in the country’s economic rebound.

Moreover, the imperative of accelerating budget disbursements for the fiscal year 2023 and promptly enacting the budget bill for fiscal year 2024 is also of utmost importance as it is envisaged to ensure a smooth transition, bolster confidence among foreign investors, and ignite increased foreign investments.

Sanan expressed the chamber’s confidence that the implementation of these proposals, coupled with a focus on economic stimulus, would lead to economic growth during the final quarter, ultimately achieving the initial target of 3% growth for the kingdom.

With the impending Cabinet formation on the horizon, the chamber further shared its positive outlook regarding the potential appointees’ adeptness in effectively managing economic portfolios and advancing the well-being of all Thai citizens.

The preceding is a press release from the Thai Government PR Department.

Goongnang Suksawat
Goong Nang is a News Translator who has worked professionally for multiple news organizations in Thailand for many years and has worked with The Pattaya News for five years. Specializes primarily in local news for Phuket, Pattaya, and also some national news, with emphasis on translation between Thai to English and working as an intermediary between reporters and English-speaking writers. Originally from Nakhon Si Thammarat, but lives in Phuket and Krabi except when commuting between the three.