Queen Sirikit National Convention Center, 5 Sept. - Bank of Thailand, NESDB advises the private sector to adapt. Supports global warming trends Modern trade barriers Push banks to provide quality loans Reduce household debt problems NESDB recommends continuing infrastructure Supports border trade Instead of relying on exports to main markets
At the big seminar Thai Chamber of Commerce, year 2023, Mr. Tharith Panpiamrat Assistant Governor Financial Institutions Policy Group Bank of Thailand said in the topic “Policy guidelines for the new landscape of the Thai financial sector for the digital economy and sustainable growth” that the problem of household debt is continually rising due to COVID-19, flooding problems, people borrowing money to repair houses and shops, causing the total household debt to surge to 90.5 percent of GDP if it is debt for consumption. Consuming too much at 66 percent is therefore worrisome. Financial tools help control debtor behavior. The BoT wants financial institutions Refrain from advertising excessive lending. If the debtor is chronically in debt Focus on paying only interest. Principal not paid Therefore wants to restructure the debt. Focus on small debtors Consideration of lending based on debtor risk Charge interest according to risk
The BoT wants to see appropriate lending. Go in and see your debt level. You must be able to pay off and have enough money to survive. and also want to provide knowledge Maintaining financial discipline, the BoT therefore wants to take care of household debt problems. Financial discipline must be introduced from school and university to recognize its importance. For problems with debt outside the system, with a limit of 54,300 baht or more, interest is 100 percent. When combining the principal and interest Loan amount of over 100,000 baht per individual Thailand also has the Sajja Savings Group, Community Finance, which helps take care of some parts. But there are many more. Rely on high-interest foreign money Because they are a risk group No financial history, therefore has NoN Bank, Nano Finance, Micro Finance. Open for service in the community Approval for more personal loans Lending is not very high.
For the new generation of people just working Online sellers: Currently, the BoT has started granting virtual bank licenses (Virtual Bnak) by evaluating data from mobile phone usage, water and electricity bills, and spending money in daily life. Are payments made on time? to be used to evaluate lending The mobile phone company joins hands with the operator. It is expected that 3 more services will be opened to support the need for additional financial resources. After that, when developing a system structure that links together to use information together To allow people to have greater access to services. For the European CBAM regulations, it is accepted that the micro-industry That is a supply chain, such as Thailand, must accelerate its adjustment from today. When the time has come If you don't do it, it will be difficult. Affected the delivery of products to large private companies. Due to having to face trade protectionism that continues to increase to support world trends Reduce greenhouse gas emissions If you don't do it, you will have to face many obstacles.
for future lending Want to assess customer risk From doing ESG business in the future, we will start doing more through the Thailand Taxonomy policy as a tool for financial institutions to help advise customers to adapt. If there is a high risk Must turn to preventing global warming There is a plan to adjust from red, yellow, green with time to adjust and lower interest costs or doing green finance with TCG helping as a guarantor. It is accepted that the IA system plays an important role in doing business at this time. Thailand has followed closely. for entrepreneurs to adapt Keep up with the new digital economy that has both good and bad results
Mr. Danucha Pitchayanan, Secretary-General of the National Economic and Social Development Council (NESDB), spoke on the topic. "Openness, building relationships, connections, leading to balance" said that he admitted that Thai GDP in the second quarter grew by 1.8 percent, which is considered very disappointing. Because the overall economy has not yet recovered. When exports shrink Affecting the use of private sector production capacity of only 60 percent, this is something that must be urgently resolved. Otherwise, employment will be affected. When exporting to large foreign countries has problems Therefore have to turn to rely on Border trade with neighboring countries It is considered that Thailand has developed quite a bit, including roads and double-track railways, such as sending durian to China. Start doing more and will continue to increase in importance Bangkok-Nong Khai electric train Therefore it is important in the future. Including connection to Laem Chabang Port. The new government must continue to succeed.
for flight routes You may have to adjust your landing at additional regional airports, such as Phuket or Chiang Mai airports, without having to land at Suvarnabhumi airport. Including the use of exchange rates to promote trade. Border Investment Focus on using the Thai baht Pay for goods or exchange in the region because the baht is becoming more important along the border. It will make border trade more important. For trade links with large countries There is a gathering of groups, different forums, BRIC, CPTPP, RCEPT. Thailand must move forward with negotiations to make progress. Because the main markets, China, the United States, and the EU are still important. accept the dichotomy quite clear investment trade Thailand must strike a balance. not to be affected in the next period
NESDB recommends using the opportunity for entrepreneurs to move production bases from China. To attract investment in the country Thailand still lacks skilled labor quality. It is seen that the level can be improved. Therefore, regulations must be changed to attract investment. Promoting the production of electric cars and the electric vehicle parts industry Semiconductor group drawn into the country When there is a chip problem Regarding parts, there will be no problems in the future. Because it is an important industry that expands into many industries. It's like having the main raw materials used in the country. Department of Petrochemical Industry Although strong, it must adapt to the environmental care industry. Reduce greenhouse gas emissions medical industry It is considered another important field, both medicine and vaccines must use Thai biological diversity, such as mangosteen extract. It's cosmetics. And there are many other things that have potential. based on research Innovation is used to develop .
Source: Thai News Agency