Rebuilding the confidence of investors and the overall public is the top priority for the new government, says Deputy Prime Minister Somkid Jatusripitak.
The global economy is in a downward trend and the government must build confidence among the public and investors through new stimulus measures and accelerate planned infrastructure projects to lure more investment, said Mr Somkid, newly reappointed to his post.
“Thailand’s role this year is quite outstanding in the region in its capacity as the chair of Asean, so we should seize this opportunity and this economic momentum to attract investors to invest more in Thailand,” he said.
According to Mr Somkid, the new government needs to focus on domestic economic development while the Finance Ministry has already completed measures to stimulate the economy covering not only general measures but also those to ease the hardship of low-income earners.
“The new stimulus measures are now complete and responsible officials look set to immediately propose to the new finance minister,” he said.
The new government is also committed to facilitating and revving up the planned infrastructure development which will serve as an important driver of the Thai economy this year.
Mr Somkid said that while he will no longer oversees the entire economic portfolio, he will try his best to work with various ministries.
Under the new structure, each deputy prime minister will be tasked with supervising the ministries their parties represent and report directly to Prime Minister Prayut Chan-o-cha.
Mr Somkid said that despite coming from various political parties, most of the policies are similar and based on the same purpose: to strengthen Thailand’s competitiveness and to assist low-income earners.
He said each party is now busy conducting the government’s policies which are expected to be settled soon before reporting to parliament.
House speaker Chuan Leekpai said the government is scheduled to report its policies to parliament on July 23-24.