As Asia is rising in the global arena, Thailand should use the opportunity to strengthen its economy and, through reforms, it could rise prominently within five years, former deputy prime minister Somkid Jatusripitak said yesterday.
At an annual seminar organised by Post Today, he said Thailand could waste no time in reforming the economy, as it is at a crossroads.
It needs a rethink for sustainable development. Somkid foresees further downsides if changes are not made.
"It's clear that everything is weak. If we're not serious with reforms, the country will deteriorate. All will focus on their own benefit. If we continue on the same path, the situation will be extremely worrying.
"But if we choose to change, I believe within five years we will witness leapfrogging development," he told the audience.
Somkid said several key factors were affecting Thailand, primarily the crisis in confidence following the coup.
From being a key pillar of Asean, Thailand now is seen as a country with conflicts and a lawless society. Continued violence in the South, the airport shutdown, last April's Pattaya violence, threats to the supreme commander and coup rumours are just the beginning, he said. As confidence erodes, political and economic stability will suffer. The rule of law must be restored, he said.
Somkid said the government must play a key role in restoring confidence, through speeding up the work in process.
"The Map Ta Phut crisis clearly shows the political flaws. Anybody can be promoted regardless of ability, and this leads to inefficiency. Overseas, only capable men are in [key] posts and they are not working for a particular group.
"They are ready to do anything for the country. That's what Thailand needs," he added.
He said the second key factor was how to strengthen the rural economy for economic decentralisation. Meanwhile, Thailand must focus more on research and development as well as diplomatic relations.
At the event, Kan Trakulhoon, president of Siam Cement Group, said the Thai economic structure was changing with the growing size of the agricultural sector.
He urged the government to promote agricultural R&D, so that Thai farmers can adjust themselves to global demand.
The government should also strengthen the agricultural marketing network, processing, distribution and introduction of more technology for added value.
Integrated data must be in place to convince farmers about what they should and should not grow, and how dangerous unbalanced plantation methods can be.
Meanwhile, to promote the|service sector, Thailand can be turned into an expat and tourist heaven. This requires relaxation in employment criteria to let in more foreign workers. More R&D budget is also necessary to promote Thai industrial products in the global arena, Kan said.
