PUBLISHED: 23 Aug 2024 at 15: 14
Past Thai Prime Minister Thaksin Shinawatra has returned after 17 years of being away from Thailand with ideas to create and handle the country’s issues.
His main goals for Thailand’s transformation were laid out at the Nation Group” Vision for Thailand” function:
- Restructuring and hair of family loan: To put these steps into effect, the finance minister must work with the Thai Bankers ‘ Association and the Bank of Thailand.
- Legalising the underwater economy: Thailand has a large underwater economy, now estimated to be about 50 % of the established economy. If this can be brought above ground, the GDP may increase by 50 %, especially by legalising online gaming, where Thais now lose 170 billion ringgit annually.
- Professional restructuring: By reducing electricity costs and promoting clean energy, Thailand had become a safe haven for industries exporting to different regions like United States, China, Europe, and others, as Thailand faces no considerable political issues.
- Entertainment compounds: This could include games that make up no more than 10 % of the area and require hundreds of billions of dollars in capital expenditures.
- Land profits to foreigners: Thais would be able to buy property to foreigners, but the title deed may get transferred to the Treasury Department, which would then rent the property to the foreign purchaser for 99 years.
- 20 Baht electric train survive: This could be achieved by the government reviving secret electric train tasks, lowering ticket costs, and introducing congestion fees for users of passenger cars to help pay for public transport.
- Agricultural transformation: Leveraging R&, D to increase value to agricultural goods, such as producing high-fiber, low-carbohydrate corn.
- Land Reclamation: Reclaiming property in areas like Bang Khun Thian and Pak Nam to produce new green places, tourist sights, and disaster protection for Bangkok.
- Negotiating maritime overlapping areas: Expelling negotiations with Cambodia to use fossil fuels in the sea together before the world transitions away from fossil fuels.
- Financial hub: Establishing operations in Thailand as a financial hub to draw in foreign banks.
- Tax restructuring: Implementing negative income tax to refund money to low-income earners, while also considering reductions in corporate and personal income taxes.
- Enhancing tourism potential: Expanding airports, developing man-made tourist attractions, and amending laws to facilitate private jet travel.
- Bureaucratic reform: Reducing the number of civil servants, curbing ballooning budgets, and increasingly using technology to replace manual processes.
- Promoting Soft Power in All Forms: Develop an ecosystem to support and enhance Muay Thai, Thai cuisine, fashion, and other cultural assets.
- Adopting protectionism: To ensure fair competition in the market, especially against low-quality, cheap imports, and to develop Thai SMEs into smart SMEs producing unique products, as they cannot compete with China’s economy of scale.