With the newly established government taking corruption seriously, more than 70 chairmen of the country's leading enterprises say the role of the private sector will gain in prominence over the next year or two.
Three-fourths of top executives polled at this week's Chairman Forum hosted by the Thai Institute of Directors (IoD) said their companies were ready to put anti-graft policies in place and join the battle to root out corruption.
Corruption over the years has eroded Thailand's competitiveness and made a bad impact on the economic, political and social fronts, said Pramon Sutivong, chairman of the Anti-Corruption Organization of Thailand.
He suggested three strategies for tackling corruption.
First is to make all laws and regulations crystal clear and effective to ensure transparency and accountability.
Second is to educate and build consciousness in the younger generations to resist and reject all forms and levels of corruption.
Third is to encourage the private sector to take a more active role in probing for irregularities in government processes.
"We're starting to see the light at the end of the tunnel in the battle against corruption," said IoD president and chief executive Bandid Nijathaworn.
"Based on the experiences of other countries that faced severe corruption problems such as South Korea, Hong Kong and even Singapore, it's clear that serious efforts and cooperation among the public and private sectors as well as civil society can fix and reduce the severeness of the corruption problem."
PTT chairman Piyasvasti Amranand told the forum that political interference is a worrisome issue for state-backed enterprises.
Since executives of state-sponsored firms are obliged to accommodate government policies, the fight against corruption at related agencies is more difficult and complex.
Mr Piyasvasti said the selection and hiring process of executives at state enterprises must be redesigned to attract high-calibre professionals since the terms of the current contracts offer limited job security and the prospect of being sacked at any time.
Tisco Financial Group chairman Pliu Mangkornkanok said it was crucial to seek more alliances, possibly with industry associations, within the anti-corruption drive as a means of pushing for a level playing field.