Bangkok: The Thai Chamber of Commerce has expressed support for the government's emergency decree to secure a 400 billion baht loan aimed at addressing the economic challenges posed by the energy price crisis and global economic instability.
According to Thai News Agency, the Chamber is advocating for a dual approach in utilizing the funds. In the short term, the focus should be on reducing business costs, while in the long term, the funds should accelerate investments in clean energy and new technologies to enhance Thailand's competitiveness. Mr. Poj Aramwattananon, Chairman of the Thai Chamber of Commerce and the Federation of Thai Chambers of Commerce, emphasized the need for these measures in light of the uncertain geopolitical conflicts affecting global markets.
The private sector has raised concerns over rising energy prices, which are affecting business costs for SMEs, agricultural businesses, transportation companies, and small-scale entrepreneurs. This situation is impacting purchasing power, employment, and the country's overall competitiveness. The Chamber stresses the importance of proactive measures to support the economy while establishing a resilient energy foundation to mitigate long-term vulnerabilities.
The emergency decree is seen by the Chamber not just as a short-term economic stimulus, but as an essential tool to prevent the economy from slowing due to escalating energy costs. The funds should be strategically used in both short-term and long-term initiatives, focusing on reducing energy costs and increasing liquidity in the short term, while promoting investment in clean energy technologies and infrastructure for a sustainable, low-carbon economy in the long term.
Mr. Poj highlighted that the loan should be viewed as an investment in Thailand's future, emphasizing the global competition in energy costs, clean technology, and economic security. He indicated that strategic investments could turn the crisis into an opportunity to elevate Thailand's economic status.
The Thai Chamber of Commerce insists that all projects funded by the loan must be transparent, verifiable, and yield tangible economic benefits to gain the confidence of the public, investors, and the business sector. The Chamber is also ready to support the "Thai Helps Thai Plus" initiatives to stimulate the domestic economy, promote Thai products, support entrepreneurs, and stabilize agricultural commodity prices amidst ongoing global economic uncertainties.