The business of Thailand is business, and Thailand’s Prime Minister Anutin Charnvirakul is pledging to cut bureaucracy and ease licensing for businesses as part of proposed reforms that the former construction tycoon unveiled in a policy statement to the parliament on 9 April. Speaking for just over one hour to a joint session of the parliament, the Prime Minister vowed that he “would do everything possible for Thais” to regain their economic stability while also appealing to bankers and economists by saying he would maintain fiscal discipline.

In a 21-page document released before he spoke, Prime Minister Anutin emphasized support for small and medium-sized enterprises, easier access to finance and investments in artificial intelligence, semiconductors and clean energy, according to Reuters.

Roughly 98 percent of Thailand’s economy is powered by small and medium-sized businesses. Many of them find it a challenge to secure financing for investments in new technologies that could make their operations more effective.

Prime Minister Anutin said he would fast-track an omnibus law within the year to get rid of outdated regulations that have constrained and impeded businesses and growth. This includes issuing an innovative “super license” to digitize state services and reduce bureaucracy, which he would like to see passed within six months.

“Digital technology and AI will be applied in industrial and agricultural sectors to help cut costs and increase productivity,” Prime Minister Anutin said.

Trade policy has been on everyone’s mind because of uncertainties around the global economy. The prime minister said his goal is to tackle trade challenges by integrating Thailand more deeply into the global economy through new partnerships and by improving
the competitiveness of Thai businesses.

He said he would tighten control over product origin to prevent low-value imports and protect the reputation of goods produced in the Kingdom. At the same time, his government would promote Thai goods and services internationally through a unified “Team Thailand” approach.

In addition, he said Thailand would continue its progress toward achieving OECD (Organisation for Economic Co-operation and Development) membership. “The government will continue to align our legislation, policies and practices with OECD standards in order to achieve membership by 2028,” Prime Minister Anutin said.