The economic policies of the Pheu Thai-led government favour big corporations over the interests of the general public, a Bangkok forum was told on Thursday.
Thai governments and large corporations have long maintained close ties, Thammasat University economics lecturer told the forum sponsored by the Health Promotion Movement.
Corporations take advantage of their connections with key government figures to seek benefits, he said. Monopolies are bad for the overall economy, leading to low production efficiency and a lack of new products, he added.
He noted that the country’s small and medium-sized enterprises are dying, and they cannot compete in terms of production capacity with other countries.
He suggested that the political system be reformed to better serve the people’s interests.
Biothai president Witoon Lianchamroon told the forum that the country’s system of governance is highly centralised and closely connected with large corporations. Many board members of major firms spent most or part of their careers in the government sector.
Despite many changes in government, monopolies remain, and small business operators are excluded from the market. The influx of cheap goods from China is worsening the problem, he added.
Mr Witoon also criticised the government’s alcohol policy and its casino-entertainment complex proposal, saying these initiatives would primarily benefit big investors.
Regarding the digital wallet handout designed to stimulate the economy, he said that unless the government ensures that the money is spent on small businesses, it will end up in the coffers of large firms.
Sattharam Thambuddee, an employee representative from the Social Security Board, criticised measures to grant investment privileges to investors, saying such measures are not worth it.
He said that while incentives reduced taxes for investors by over 200 billion baht, the return to the economy was estimated at half that amount.
Meanwhile, successive governments have lacked the political will to push for better welfare benefits for the public, he added.