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Bangkok Post
05-07-2025
- Business
- Bangkok Post
Calls mount for structural reform in Thailand
Structural reforms, deregulation and a cohesive national vision are needed to help Thailand navigate an increasingly volatile global landscape, prominent figures from government, industry and academia said at a recent event held by the National Press Council in Bangkok. The looming threat of increased tariffs from the United States has compelled countries to take a hard look at their trade policies, Deputy Finance Minister Julapun Amornvivat told the gathering, held to mark the 28th anniversary of the Council. Mr Julapun was representing Deputy Prime Minister and Finance Minister Pichai Chunhavajira, who was in Washington for trade negotiations ahead of a July 9 deadline. The Thai delegation returned on Friday without an agreement, though Mr Pichai expressed confidence that a revised proposal from Thailand would meet with US approval. 'We must accept the old global trade balance is no longer viable,' Mr Julapun said. 'Existing trade frameworks, whether they be bilateral, multilateral or under the World Trade Organization, are being challenged by current US policies. Thailand must work towards establishing a new equilibrium. He stressed the need for a collective response, involving ministries including Finance, Commerce and Agriculture, alongside key private sector bodies such as the Federation of Thai Industries and the Thai Chamber of Commerce. Despite the uncertainty, Mr Julapun expressed cautious optimism, saying he hoped Thailand would be subject to a maximum 10% import tariff rather than the proposed 36%. Commenting on domestic political concerns, Mr Julapun dismissed claims the country had reached a political dead end. The constitution provides mechanisms to resolve ongoing issues, including the recent suspension of Prime Minister Paetongtarn Shinawatra by the Constitutional Court, he said. 'There is no dead end. The constitution clearly outlines a way forward. Whether people find the outcome satisfactory is another matter, but we can move ahead,' he said. 'We have an acting prime minister and a full cabinet actively managing the country. There is no disruption to the functioning of the state.' He emphasised the need to respect judicial processes and move forward regardless of the court's eventual decision. 'Life does not end here,' he said. 'Cancer' of corruption Chanin Chalissarapong, vice-chairman of the Thai Chamber of Commerce, delivered a frank assessment of business sentiment, describing corruption as a 'cancer' eroding Thailand's competitiveness. He championed deregulation and digital transformation as key solutions to close corruption loopholes and improve public sector efficiency. 'Competitiveness will come through deregulation,' he said, urging the government to attract foreign investment, particularly in high-tech industries like artificial intelligence, quantum computing and biotechnology. He highlighted opportunities in Thailand's 'new S-curve' sectors: agriculture, food, tourism and healthcare, with an emphasis on biotechnology to produce high-value goods such as bio-fertilisers and biopharmaceuticals. He stressed that regulatory reform is essential to attract global expertise and capital. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, echoed calls for reform, pointing to Thailand's more than 120,000 laws and sub-regulations as a major obstacle to productivity. He proposed an 'omnibus law' approach to sweep away outdated regulations, similar to successful reforms in South Korea that spurred rapid economic development. 'Excessive regulation acts as a hidden cost, a chain holding Thailand back,' Mr Kriengkrai said. He urged the government to capitalise on Thailand's strengths in the Bio-Circular-Green (BCG) economy, especially in biodiversity, and to view China as a lucrative market for Thai bio-products rather than merely a competitor. Clear and consistent government policies, he said, are critical to enabling industry growth. Human capital deficit Somchai Jitsuchon, research director at the Thailand Development Research Institute (TDRI), raised concerns about the country's human capital, adding that over half of Thais aged over 40 have only a limited education, an impediment to national development. He cited examples such as Alibaba founder Jack Ma's preference for investing in Malaysia over Thailand due to superior human resources, and argued that 'political quality reflects the quality of the electorate'. Mr Somchai called for stronger civic education to improve democratic engagement and highlighted the dominance of tourism as a 'forced choice', resulting from a lack of workforce capacity in more advanced industries. Natthapong Ruengpanyawut, leader of the opposition People's Party, laid out a strategic vision for inclusive green growth, centred on grassroots investment and regional development. His three-pronged plan comprises developing secondary cities to match Bangkok's quality of life and attract private investment, installing one million solar rooftops within four years to cut electricity costs and spur the renewable energy sector, and expanding 'economic forests' by one million rai through public-private partnerships to generate high-value timber and bio-materials.
Bangkok Post
05-07-2025
- Business
- Bangkok Post
Casino bill delay likely for review by new cabinet
The controversial entertainment complex bill needs to be reviewed by the newly formed cabinet before proceeding with it further, Deputy Finance Minister Julapun Amornvivat said. Speaking at a forum hosted by the Press Council of Thailand to mark its 28th anniversary on Friday, Mr Julapun said government whips and cabinet representatives have discussed the possibility of delaying the bill for a thorough review by the new ministers. He dismissed speculation that the bill's fate was tied to the recent withdrawal of the Bhumjaithai Party (BJT) from the coalition, saying the coalition still commands a majority that is enough to secure its passage. However, Mr Julapun noted that due to the major cabinet reshuffle, fresh input from the new ministers on the highly contentious issue is welcome. There are also calls for the government to first address ongoing Thai-Cambodian border tensions, he added. According to the minister, the formal withdrawal of the bill typically requires a resolution by the cabinet, and the bill could be withdrawn immediately if the House raises no objections. Mr Julapun admitted that the opposition might push for deliberation and vote the bill down. "But the government is confident it has sufficient support to either delay deliberation or withdraw the bill for review," he said. The bill, which seeks to establish integrated entertainment complexes that include casinos, was originally scheduled to be the first item on the House agenda on July 9. It was to be followed by four other bills related to social harmony and political amnesty. Mr Julapun also dismissed any connection between the government's casino policy and Cambodian Senate President Hun Sen's recent criticism of Thailand, saying the decision to delay it is primarily to allow for further review and ease political tensions. Visuth Chainaroon, the chief government whip, yesterday echoed the need for its withdrawal, citing the coalition's slim majority and an unfavourable political climate. He said he discussed the matter with Prime Minister's Office Minister Chusak Sirinil, and both agreed that a postponement could still intensify public pressure, making a full withdrawal the better course of action. "If the new cabinet is ready, it can resubmit the bill. But it must engage with the public first, as this bill has wide-ranging repercussions," he said.
Bangkok Post
05-07-2025
- Business
- Bangkok Post
Delay likely so that new cabinet can review casino bill
The controversial entertainment complex bill needs to be reviewed by the newly formed cabinet before proceeding with it further, Deputy Finance Minister Julapun Amornvivat said. Speaking at a forum hosted by the Press Council of Thailand to mark its 28th anniversary on Friday, Mr Julapun said government whips and cabinet representatives have discussed the possibility of delaying the bill for a thorough review by the new ministers. He dismissed speculation that the bill's fate was tied to the recent withdrawal of the Bhumjaithai Party (BJT) from the coalition, saying the coalition still commands a majority that is enough to secure its passage. However, Mr Julapun noted that due to the major cabinet reshuffle, fresh input from the new ministers on the highly contentious issue is welcome. There are also calls for the government to first address ongoing Thai-Cambodian border tensions, he added. According to the minister, the formal withdrawal of the bill typically requires a resolution by the cabinet, and the bill could be withdrawn immediately if the House raises no objections. Mr Julapun admitted that the opposition might push for deliberation and vote the bill down. "But the government is confident it has sufficient support to either delay deliberation or withdraw the bill for review," he said. The bill, which seeks to establish integrated entertainment complexes that include casinos, was originally scheduled to be the first item on the House agenda on July 9. It was to be followed by four other bills related to social harmony and political amnesty. Mr Julapun also dismissed any connection between the government's casino policy and Cambodian Senate President Hun Sen's recent criticism of Thailand, saying the decision to delay it is primarily to allow for further review and ease political tensions. Visuth Chainaroon, the chief government whip, yesterday echoed the need for its withdrawal, citing the coalition's slim majority and an unfavourable political climate. He said he discussed the matter with Prime Minister's Office Minister Chusak Sirinil, and both agreed that a postponement could still intensify public pressure, making a full withdrawal the better course of action. "If the new cabinet is ready, it can resubmit the bill. But it must engage with the public first, as this bill has wide-ranging repercussions," he said.
Bangkok Post
04-07-2025
- Business
- Bangkok Post
Delay likely so that new cabinet can review bill
The controversial entertainment complex bill needs to be reviewed by the newly formed cabinet before proceeding with it further, Deputy Finance Minister Julapun Amornvivat said. Speaking at a forum hosted by the Press Council of Thailand to mark its 28th anniversary on Friday, Mr Julapun said government whips and cabinet representatives have discussed the possibility of delaying the bill for a thorough review by the new ministers. He dismissed speculation that the bill's fate was tied to the recent withdrawal of the Bhumjaithai Party (BJT) from the coalition, saying the coalition still commands a majority that is enough to secure its passage. However, Mr Julapun noted that due to the major cabinet reshuffle, fresh input from the new ministers on the highly contentious issue is welcome. There are also calls for the government to first address ongoing Thai-Cambodian border tensions, he added. According to the minister, the formal withdrawal of the bill typically requires a resolution by the cabinet, and the bill could be withdrawn immediately if the House raises no objections. Mr Julapun admitted that the opposition might push for deliberation and vote the bill down. "But the government is confident it has sufficient support to either delay deliberation or withdraw the bill for review," he said. The bill, which seeks to establish integrated entertainment complexes that include casinos, was originally scheduled to be the first item on the House agenda on July 9. It was to be followed by four other bills related to social harmony and political amnesty. Mr Julapun also dismissed any connection between the government's casino policy and Cambodian Senate President Hun Sen's recent criticism of Thailand, saying the decision to delay it is primarily to allow for further review and ease political tensions. Visuth Chainaroon, the chief government whip, yesterday echoed the need for its withdrawal, citing the coalition's slim majority and an unfavourable political climate. He said he discussed the matter with Prime Minister's Office Minister Chusak Sirinil, and both agreed that a postponement could still intensify public pressure, making a full withdrawal the better course of action. "If the new cabinet is ready, it can resubmit the bill. But it must engage with the public first, as this bill has wide-ranging repercussions," he said.
The Star
05-06-2025
- Business
- The Star
Thailand unveils landmark entertainment complex to boost economy, tourism
BANGKOK: (Bernama) Thailand has unveiled plans for a landmark "Thailand Entertainment Complex' project, aimed at boosting economic growth, attracting international tourists and strengthening its global competitiveness. Deputy Finance Minister Julapun Amornvivat said the project was part of efforts to position Thailand as a premier destination for world-class attractions. "The complex is envisioned as a new economic engine, fostering tourism revenue and creating innovative industries to ensure sustainable economic growth,' he said in a statement on Thursday (June 5). The entertainment complex is anticipated to generate 12 to 40 billion baht in annual tax revenue while creating thousands of jobs, he said. Julapun said the government has submitted a draft bill to the House of Representatives to establish a regulatory framework for the complex. Meanwhile, Deputy Secretary-General to the Prime Minister, Suksit Srichomkwan, said the complex will include a casino, which will operate under strict legal conditions and anti-money laundering measures. It will also feature concert halls, large convention and exhibition centres, amusement parks, museums, Michelin-starred restaurants, and green spaces for outdoor activities. The project will be financed by private investment, sparing public funds, he said. - Bernama
