Seminar on Thai economy under new government

Bangkok (NNT/VNA) – Thai Finance Minister Uttama Savanayana has disclosed urgent policies which are to be implemented during the first three months of the new government in Thailand with a focus on economic issues, including taxes which need to be restructured promptly.

In a seminar on Thailand under the new government at the Bangkok Post Forum 2019 at the Bangkok Convention Center in Centara Grand and Central World, the finance minister said the government’s economic policies are categorized as urgent policies with regards to the trade war, specifically during the first three months of the government.

Medium and long-term measures have been prepared in the face of the adverse effects of the trade war. Thailand’s trade competitiveness will be upgraded while the country’s fundamental economy and agricultural sector will need the use of digital technology in a new economic era, for which a huge sum of investment capital will be provided. For that matter, Public-Private Partnerships will play a significant role.

The government will expand the Thailand Future Fund to provide continual financial support to the fundamental economy. The government will spend funds to meet demands for public welfare benefits with regards to the advent of an ageing society.

Besides, the finance minister said taxes will be restructured and tax collection measures will be enhanced with the use of technology. For instance, income taxes for online and e-commerce businesses will be made more assessible, with the raising of state revenue in accordance with national development plans, while monetary and financial disciplines will be maintained.-NNT/VNA