Thai Premier Proposes Legal Reforms to Boost Trade
Government moves to amend laws obstructing economic growth
Prime Minister Paetongtarn Shinawatra has announced plans to amend laws that hinder trade following a proposal from the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).
Legal obstacles are reportedly causing economic losses of 100 billion baht annually, according to government spokesman Jirayu Houngsub.
The government received a white paper outlining key economic measures, including economic stimulus, SME support, water management, and competitiveness enhancements.
In response, Finance Minister Pichai Chunhavajira will collaborate with businesses to tackle these issues.
The premier directed the Public Sector Development Commission to discuss law amendments to streamline processes like production and import licensing.
Measures are also being implemented to regulate low-cost Chinese products sold online.
The National Economic and Social Development Council forecasts a 2.3-2.8% economic growth in 2024, driven by tourism, consumption, and government spending, an improvement from the previous three years.
Legal obstacles are reportedly causing economic losses of 100 billion baht annually, according to government spokesman Jirayu Houngsub.
The government received a white paper outlining key economic measures, including economic stimulus, SME support, water management, and competitiveness enhancements.
In response, Finance Minister Pichai Chunhavajira will collaborate with businesses to tackle these issues.
The premier directed the Public Sector Development Commission to discuss law amendments to streamline processes like production and import licensing.
Measures are also being implemented to regulate low-cost Chinese products sold online.
The National Economic and Social Development Council forecasts a 2.3-2.8% economic growth in 2024, driven by tourism, consumption, and government spending, an improvement from the previous three years.
