Pundits push for productivity

Economists urge the incoming government to focus on improving the country's productivity and addressing corruption to better support Thai GDP growth amid uncertain times over the next four years.

- SOMRUEDI BANCHONGDUANG

Speaking at a seminar hosted by the Economic Society of Thailand, Kobsak Pootrakool, chief economist at Bangkok Bank, suggested the new government reduce its export reliance on the US amid heightened geopolitical tension.

Exports to the US should be reduced to around 10% of the country's total shipments from 18-20% at present, he said, adding all asset and commodity prices are expected to be volatile during the remaining three years of US President Donald Trump's administration.

However, Mr Kobsak said Thailand could realise a windfall from the geopolitical risks in terms of foreign fund inflows.

Thailand and other Southeast Asian nations should be able to attract foreign direct investment (FDI) if the government empowers the Board of Investment and increases its budget and manpower, noted Mr Kobsak, also chairman of the Federation of Thai Capital Market Organizations.