The previous home of the Bank of Thailand
The Federation of Thai Industries (FTI) has appealed to the government to use state cash to help keep the business sector afloat should an economic waylay the business sector by the second half of the year.
FTI Vice Chairman Wallop Witanakorn made the appeal as he emphasized the need for financial assistance, especially in the trade, service and production sectors, as these, he claims, are Thailand’s true economic mobilizers. He said these industries are the moneymakers which in turn generate the government’s budget.
Wallop also mentioned that border trade value could be raised THB2 trillion in just a matter of years if the government stepped in and offered support.
The FTI claims that the economic slowdown has been brought about by increased labor costs, as well as the weakening of Thailand’s target markets, the Bangkok Post reported.
