Deputy Prime Minister Somkid Jatusripitak yesterday expressed gratitude to the private sector for supporting the government's Pracha Rat (People's State) initiative after many listed companies responded through corporate social responsibility (CSR).
Listed companies such as Saha Group, TPBI and TS Flour Mill have promoted community economies through social business enterprises, income creation and jobs for local people, Mr Somkid said.
Among others, Muang Thai Insurance has enacted a policy to promote employment of the disabled, SE-Education is supporting elderly employment, Supalai has launched a living environment project, and PTT is campaigning for road safety.
Mr Somkid said the policy's next step is encouraging the Thai Chamber of Commerce to push provincial businesses to undertake CSR activities. The Federation of Thai Industries should also promote the CSR approach for the industrial sector, he said.
Besides encouraging listed companies to engage in CSR projects, the Stock Exchange of Thailand is backing instruction in savings, financial planning and retirement goals as the country becomes an ageing society, said SET president Kesara Manchusree.
There are more than 25,000 monthly securities savings accounts, Mrs Kesara said. "But the outcome that the SET wants to see is not the number of accounts, but rather educating the nation in personal financial management," she said.
Meanwhile, Mr Somkid said he believes the economy is picking up after the Bank of Thailand, the Finance Ministry and several research houses raised their GDP growth forecasts for this year and next.
The World Economic Forum (WEF) also upgraded Thailand's competitiveness ranking to 32nd from 34th.
Although the economy is improving, many problems remain that the government can't tackle alone, Mr Somkid said.
The Pracha Rat initiative is the start of a "common consciousness" fostering economic inclusion, he said.
Despite Thailand's WEF social fairness rank rising six notches to 70th, the nation's rank for healthcare and basic education stands at 90th, down from 70th several years ago, Mr Somkid said.