TEBA Members First to Meet New Prime Minister
On 27 August TEBA members became the first business delegation to meet with General Prayuth Chan-Ocha following his royal endorsement as Prime Minister. The morning meeting allowed TEBA’s member companies to directly put forward their recommendations for economic and business reforms to the new Prime Minister at a time when the government is considering nationwide reforms.
Proposals from the TEBA members included modernising customs laws to ensure greater transparency, amending laws to facilitate the government’s ability to negotiate international economic agreements, encouraging greater consultation of stakeholders in the EU-Thai FTA negotiations, greater transparency in public procurement processes and reform of the Foreign Business Act.
Other suggestions from TEBA members included issues related to stimulating the economy such as developing a new strategy for promoting trade and investment with Europe, the offering of investment privileges to new investors and organising activities to build the image of Thailand among European investors.
In terms of developing a long-term industrial development strategy for Thailand, TEBA members suggested the government should support building high value-added manufacturing, greater technology transfer from Europe to Thailand and promote more investment from Thai companies in Europe.
TEBA also suggested that it was willing to develop a mechanism for greater cooperation between the public and private sectors, particularly in the automotive, aerospace, pharmaceutical and logistics industries.
The meeting was very positive with the new Prime Minister being very open to suggestions from TEBA’s members. It is hoped that this will be the start of a regular and ongoing dialogue between TEBA members and the new government.