นายกฯ อนุทินหารือ ส.อ.ท. ร่วมกำหนดทิศทาง ดันเศรษฐกิจไทยเข้มแข็งPrime Minister Anutin Meets with FTI to Set Direction for Strengthening the Thai Economy

On Monday, September 15, 2025, Mr. Kriangkoei Thiennukul, Chairman of the Federation of Thai Industries (FTI), along with the FTI management team, welcomed Prime Minister Anutin Charnvirakul and his delegation, consisting of Mr. Suchart Chomklin, Mr. Ekniti Nitithanprapas, Mrs. Suphajee Suthumpun, Mr. Thanakorn Wangboonkongchana, Mr. Warapak Thanyawong, and Mr. Kulit Sombatsiri at the Passion Room (802), 8th floor of FTI, to discuss cooperation on economic and industrial matters aimed at enhancing competitiveness and strengthening the Thai economy.

During this meeting, Mr. Kriangkoei Thiennukul highlighted the overall challenges facing the Thai industrial sector and proposed strategies in line with the 4GO policy, which includes GO Digital & AI (enhancing the industrial sector through digital and artificial intelligence), GO Innovation (creating small but impactful entrepreneurs through innovation), GO Global (elevating the global supply chain and expanding into international markets), and GO Green (developing environmentally friendly industries and reducing carbon footprints). These will serve as the main mechanisms to propel the Thai industry in keeping pace with global economic changes.

The government, under Prime Minister Anutin Charnvirakul, has set urgent policies for the next 4 months to address four significant issues:
1.  Economic measures aimed at reducing the cost burden on citizens, including living expenses, energy costs, transportation, and various fees, while urgently addressing the debts of farmers and low-income individuals.
2.  Security measures focused on resolving disputes between Thailand and Cambodia through peaceful means to minimize loss and impact on citizens of both countries.
3.  Natural disaster measures to enhance the warning system established during the tenure as Minister of the Interior, while promptly compensating citizens affected by natural disasters.
4.  Social hazard measures aimed at seriously combating drug trafficking, human trafficking, scammers, gambling, and online gambling, by collaborating with neighboring countries and allies to eradicate social threats in all forms.

Prime Minister Anutin Charnvirakul stated that we must prioritize pressing issues, whether they concern operators or even the border trade issues between Thailand and Cambodia. We must employ every method to resolve issues including military, diplomatic, and discussions with Cambodian counterparts closely.

Regarding operators, support will be provided to increase domestic investment and production. Thailand is not inferior to other countries, and at the same time, we face significant competition. It is time for Thailand to be proactive for the survival of the country and urgently discuss investment promotion with the Board of Investment (BOI). Although this government has come in to address immediate issues, we are confident that we will use our existing authority to push Thailand towards growth and enhance mobility for all parties involved.

“The dream team will be the real team with no factionalism. We will adopt teamwork principles to develop the nation,” stated Mr. Anutin.

The FTI management also presented five main urgent measures to promote the industry, including:
1.  Preparation to cope with U.S. import tax measures and trade wars.
2.  Enhancing financial liquidity and access to funding sources for SMEs.
3.  Restructuring electricity costs to reduce operators’ costs.
4.  Addressing impacts from border trade issues between Thailand and Cambodia and mitigating measures for operators.
5.  Managing impacts from the strengthening of the Thai Baht.

Regarding the U.S. import tax measures and trade wars, Mr. Nawa Chantanasurakorn, FTI Vice Chairman, explained that Thailand has begun facing a 19% tax from the U.S. since August 7, 2025. This tax can be imposed in two scenarios: Scenario 1 involves a 19% tax on products falling under this measure, excluding items covered by Section 232, such as vehicles, automotive parts, steel and aluminum, and semi-finished copper, which have separate guidelines. Scenario 2 applies a 40% tax when products are considered to have been transshipped or originated from a third-country circumvention, requiring U.S. Customs and Border Protection (CBP) verification. If confirmed as circumvention, this rate will be applied. However, currently, there are no clear guidelines for calculating the Regional Value Content (RVC) concerning domestic/ regional production values, hence the government must closely monitor U.S. practices to allow operators to adapt.

Therefore, FTI proposed that the government urgently create awareness among operators about the U.S. criteria and conditions, establish an advisory unit for RVC calculation, and promote operator transformation to adapt the Thai supply chain, ensuring flexibility and modernization, while emphasizing proactive international trade measures and strict compliance with laws regarding goods and promotion of locally produced products (Made in Thailand: MiT).

For enhancing financial liquidity and access to funding sources for SMEs, Mr. Apichit Pasornrat, FTI Vice Chairman, clarified the fragility of the Thai SMEs as of June 2025, indicating that Non-Performing Loans (NPL) in the SME sector reached 243.026 billion Baht, with total outstanding SME loans at 3.119525 trillion Baht.

Thus, FTI proposed measures to enhance financial liquidity and access to funding under the “Fast Track for SMEs” initiative, including an Emergency Credit Guarantee project that can be approved within 3-7 days, with the government subsidizing initial fees and increasing guarantee proportions above usual levels (80-100%) to encourage banks to provide immediate credit to SMEs requiring urgent liquidity. SME Quick Liquidity Loans at 1% through the Office of Small and Medium Enterprises Promotion (OSMEP) with state banks as facilitators, and an Express Lane for loans ranging from 5-10 million Baht including for SMEs in the tax system without collateral to meet short-term liquidity needs and reduce risks of becoming NPL, and a “Hair Cut” scheme for restructuring NPL, allowing debtors to settle remaining debts and close accounts, thereby reducing overall NPL in the system.

Additionally, Mr. Isares Ratanadilok na Phuket, FTI Vice Chairman, proposed restructuring electricity costs to reduce operators’ expenses and enhance competitiveness in the production sector, emphasizing the need for a fair electricity pricing structure reflecting true production costs and promoting alternative and renewable energy support measures, which will help Thai operators compete in a global market focused on environmental measures.

Notably, the government must urgently finalize the new Power Development Plan (PDP) within 2025 to address the nation’s environmental needs at fair pricing while ensuring energy security.

Furthermore, it is proposed to restructure electricity rates to eliminate unnecessary excess costs and promote electricity market liberalization, along with reducing necessary deposit amounts for electricity use to 0.5 times for users with a good payment history to alleviate financial burdens and improve liquidity for operators.

Meanwhile, Mr. Vetith Chokwatana, FTI Vice Chairman, highlighted the border trade issues between Thailand and Cambodia, which have affected many operators, suggesting that the government urgently seek measures for short-term and long-term assistance. This includes facilitating trade, resolving customs issues, and negotiating bilaterally to clarify border trading regulations, which will allow operators to conduct business continuously.

In the short term, emphasis should be on reducing logistics costs for operators by enhancing existing logistics channels, increasing coastal vessels for shipping goods through routes that are not in conflict, such as Chanthaburi and Trat, and considering allowing exports and imports of raw materials or components for supply chain production at non-conflicted checkpoints, as well as compensating operators needing transport during times of conflict between both countries, allowing clear transport costs to be deducted at double rates.

For the short term, proposals include considering a Soft Loan for operators to maintain liquidity, particularly for those investing in Cambodia or having continuous trading records with Cambodia, in addition to measures released by the Export-Import Bank of Thailand (EXIM Bank). The Board of Investment (BOI) is also urged to consider benefits for industries in the supply chain affected by these events to encourage investment in Thailand for components or raw materials needing imports from Cambodia.

In terms of long-term measures, considerations must be made based on security situations to allow both countries to resume trade together and establish legal economic linkages, fostering mutual growth in the region.

Additionally, Mr. Kriangkoei Thiennukul, Chairman of FTI, expressed concerns regarding the strengthening of the Thai Baht against competitors in the region, such as Vietnam and Indonesia, which impacts Thai exports. He proposed that the government expedite the study and clarification of the impact from gold transactions, cryptocurrencies, and undocumented remittances from migrant workers, which are not currently clear. Moreover, there should be encouragement for the use of local currencies in international trade under ASEAN+3 cooperation frameworks, and support for operators in using hedging tools against exchange rate risks, such as FX Options and Forward Contracts, with initiatives to help reduce fees and initial costs.

For future cooperation mechanisms, FTI suggests driving discussions through the Joint Public-Private Economic Problem Solving Committee (JPP-C) and organizing forums for gathering opinions on significant economic issues such as U.S. tax measures, Thai-Cambodian border trade, and economic stimulus measures to collectively seek tangible solutions.

“This meeting marks a significant start for proactive collaboration between the public and private sectors, with FTI ready to support and work closely alongside the government to guide the Thai economy towards strength, stability, and sustainability in the future,” concluded Mr. Kriangkoei.

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Published by the Corporate Communications Department of the Federation of Thai Industries (Tel. 0-2345-1051)