Thai Chamber of Commerce Sounds Alarm on State on Local Economy as Bhumjaithai Takes Economic Helm

Bangkok Business News: As the Bhumjaithai Party edges closer to forming Thailand’s next government, business elites are voicing urgent calls for decisive economic action to avert deeper woes in the nation’s economy, this Bangkok Business News reports. The Thai Chamber of Commerce, a powerful private-sector voice, is urging the incoming administration to hit the ground running with comprehensive policies that ease cost-of-living pressures, boost exports and tourism, and expedite the FY2027 budget, warning that continued delay could cement Thailand’s growing image as the “sick man of Asia” in global markets.

Business community demands immediate policy continuity

Visit Limlurcha, vice chairman of the Thai Chamber, stressed the importance of continuity in economic policy, noting that unfinished initiatives from the outgoing administration should not be stalled due to political realignment. He said the private sector looks to the new government to maintain momentum on measures that have already shown promise yet are vulnerable to interruption amid leadership changes. Speed and clarity of direction, he argued, are critical to reassuring investors and revitalizing domestic demand.

“Quota politics” could undermine economic expertise

A key concern raised by Visit is the risk of appointments driven by political considerations rather than expertise. He warned against “quota politics” that might place less qualified figures in key economic portfolios, diluting the effectiveness of economic governance. Such practices, he said, could erode confidence and stall progress on critical reforms needed to strengthen Thailand’s economic fundamentals.

Global perception and investor confidence at stake

Visit highlighted that Thailand’s economic narrative is at a precarious point, with foreign observers increasingly referencing the country’s slow recovery and structural weaknesses. Persistent global headwinds, from geopolitical tensions to uneven tourism recovery and export challenges, intensify the urgency for bold measures. Restoring competitiveness and dispelling the “sick man of Asia” label, he added, requires swift action coupled with transparency to draw back investors and stimulate growth.

Targeted early goals and transparency

The Chamber outlined three immediate priorities for the new government within the first 90 days: effective cost-of-living relief to bolster consumer activity; stronger support for export industries and the pivotal tourism sector; and rapid finalisation of the fiscal 2027 budget to prevent ripple effects of delay across the economy. Alongside acceleration, Visit urged robust anti-corruption measures and clear communication to ensure accountability and foster trust among businesses and citizens alike.

Broader economic context underscores urgency

Economists and industry analysts have long warned that Thailand’s economy is growing at only modest rates compared with regional peers, hindered by structural constraints such as weak investment, labour shortages and global competition. Without decisive leadership and coherent policy implementation, many in the private sector fear Thailand could lag further behind neighbouring economies in the years ahead. Swift, transparent, and expert-driven economic governance is seen as pivotal to reversing this trajectory.

Given these mounting pressures, the business community’s demands represent a clarion call for leadership that can champion both stability and reform.

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