President of Thailand Development and Research Institute (TDRI) Somkiat Tangkitvanich (Source: thaipbsworld.com)

Bangkok (VNA) – The new government of Thailand should invest heavily in developing the country’s manpower to make it survive in the fast-moving digital economy, President of Thailand Development and Research Institute (TDRI) Somkiat Tangkitvanich has said.

According to him, the Thai workforce was facing digital disruption, and if they do not improve themselves with necessary skills, they will end up having to move out of the labour market.

He suggested the new government develop skills of the national workforce so it is ready to serve the Eastern Economic Corridor (EEC).

From 2015 to 2018, investments in the EEC worth 1.014 trillion baht (33 billion USD) have been approved and most of them are in the sectors of petrochemical, auto, agriculture, bio technology, robotics and aviation.

Most of these industries require workers who have high expertise and the ability to learn quickly, he stated.

Meanwhile, Preedee Daochai, chairman of the Thailand Bankers’ Association, said that the new government will also have to boost the ease of doing business for Thai exporters and that the Bank of Thailand will have to bring down interest rates as soon as possible to make Thai exports more competitive.

The 10-billion-baht economic stimulus that the new government is expected to implement will not be enough to cushion the decline in Thai exports, he stressed.

Kalin Sarasin, chairman of the Board of Trade of Thailand, proposed the government be more proactive in supporting Thai exporters by implementing short-term measures to boost shipments, including improving logistics infrastructure at Thailand’s borders to cut down on the transportation costs for business.

Kalin also suggested that Thai authorities talk to neighbouring countries about making their customs formalities available 24 hours so the flow of goods within the region can be improved. He cited the 24-hour customs facilities already available at Songkhla’s Sadao district.-VNA