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<\/p>\nIn addition to short-term stimulus measures to revitalise a subdued economy, the new government should prioritise long-term structural and growth-oriented strategies to lift Thailand’s competitiveness, particularly compared with neighbouring countries, says the Thai unit of crypto exchange giant Binance.<\/p>\n
In the short term, targeted stimulus schemes such as the “Khon La Khrueng” co-payment programme should be launched to drive growth, said Nirun Fuwattananukul, chief executive of Binance TH by Gulf Binance.<\/p>\n
“While limited in duration, programmes like Khon La Khrueng play an important role in supporting consumption as economic momentum slows,” he told the Bangkok Post.<\/p>\n
“Well-designed, targeted stimulus can help stabilise sentiment and support small and medium-sized enterprises that are still recovering.”<\/p>\n
In the long term, the government’s priority should be increasing Thailand’s foreign direct investment (FDI) competitiveness, said Mr Nirun.<\/p>\n
“Thailand has some of the strongest infrastructure and connectivity in Southeast Asia, and remains a preferred destination for both investors and tourists. We should leverage these strengths to attract more high-quality FDI,” he said.<\/p>\n
Business operators want less red tape and investment approval processes to be streamlined. Investment incentives should be improved, with special support packages provided for strategic investors, said Mr Nirun.<\/p>\n
The second priority should be to strengthen existing industries.<\/p>\n
“Key sectors such as automotive have steadily lost ground to regional competitors,” he said. “We need a clear assessment of the gaps, whether in costs, skills or regulatory environment, then we should implement measures to restore competitiveness.”<\/p>\n
Mr Nirun said the country must also develop new growth engines.<\/p>\n
“Thailand must diversify into high-potential industries, especially in the digital economy. Digital assets, blockchain and crypto-related services are expanding rapidly worldwide,” he said.<\/p>\n
“Thailand is already a global destination for digital nomads. With the right regulatory clarity and infrastructure, we can position Thailand as a regional crypto and digital asset hub, attracting new investments, companies and high-skilled talent.”<\/p>\n
Structural reforms are needed to raise productivity, said Mr Nirun, adding an ageing and declining population means Thailand must accelerate technologies that improve productivity.<\/p>\n
Measures to incentivise artificial intelligence, automation and advanced manufacturing through grants and tax credits are recommended.<\/p>\n
Singapore provides a clear reference point, with measures such as targeted incentives that help businesses upgrade while expanding productivity, he said.<\/p>\n
<\/p>\n
Mr Nirun says Thailand can become a digital asset hub.<\/p>\n","protected":false},"excerpt":{"rendered":"In addition to short-term stimulus measures to revitalise a subdued economy, the new government should prioritise long-term structural…\n","protected":false},"author":2,"featured_media":228133,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-228132","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/228132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=228132"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/228132\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/228133"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=228132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=228132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=228132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}