Thai private sector targets Apec summit with 5-pronged strategy

Key issues will include regional economic integration; digital infrastructure and sustainability.

The Nation

The Nation



October 25, 2022

BANGKOK – Federation of Thai Industries chairman Kriengkrai Thiennukul said his Apec Business Advisory Council (Abac) will tap opportunities at the summit, especially for Thailand’s small and medium-sized enterprises (SMEs).

The five issues Abac will put to world leaders are regional economic integration; digital infrastructure; sustainable practices of micro-entrepreneurs, small and medium-sized enterprises (MSMEs); sustainability; and finance and economics.

Abac submitted feedback from the Thai private sector to Prime Minister Prayut Chan-o-cha earlier this month, with a focus on handling inflation, food and energy insecurity, climate change and regional economic integration.

Kriengsak said the private sector urged support for MSMEs and digital infrastructure to boost economic recovery and growth.

Meanwhile, Thai Chamber of Commerce chairman Sanan Angubolkul said the summit was Thailand’s big opportunity to connect with the global economy.

The summit would also attract foreign investment, boost tourism and stimulate trade and exports.

“Foreign businesspeople attending the meeting will help generate revenue for Thailand’s economy, aiding recovery,” he said.

The meeting will discuss other issues related to people’s lives, such as public health, the Bio-Circular-Green (BCG) economy model, and global warming, resulting in benefits to the government, private and public sectors, he added.

Sanan pinpointed an urgent need to boost Thailand’s competitiveness by applying digital infrastructure to enhance SMEs’ potential and access to funds.

He added that the creative and knowledgeable new generation would accelerate Thailand’s competitiveness.

He also expected an influx of long-term foreign residents following an easing of visa rules.

“Hence, Thailand should improve investment privileges, tax incentives and rules related to the property sector to facilitate foreign investors,” he said.

“Apart from generating revenue for Thailand, this will also help promote technology exchange and employment.”

He added that Thailand should tap 5G technology and the Eastern Economic Corridor (EEC) to attract more foreign investment.

scroll to top