Revitalizing the Economy: Boonsithi Chokwatana's Call to Action
Business leader Saha calls for implementation of rapid success strategies to boost struggling economy
In a bold move, the chairman of Saha Group, Boonsithi Chokwatana, has urged the Thai government to take swift action to revitalize the economy, boost investor confidence, and stimulate the stock market.
Comparing the economy to an era of three-wheeled vehicles, not yet reaching the age of electric vehicles, Boonsithi portrayed a precarious landscape. He argued that the economy in 2025 would present greater challenges than the previous year, even surpassing the impact of the Covid-19 crisis. However, he emphasized that every economic situation presents an opportunity for adaptation.
Boonsithi pointed to US President Donald Trump’s tariff policies as a significant factor affecting the global economy. Despite these challenges, he expressed optimism that the period of slow growth would be brief.
In light of global economic risks due to the US-China trade war, Boonsithi advocated for a neutral stance for Thailand. "In trade wars, the best strategy is not to lean left or right," he emphasized, emphasizing Thailand's unique ability to maintain balance.
Despite repeated GDP target cuts and slower growth compared to neighboring countries like Vietnam and Indonesia, Boonsithi maintains a positive outlook for Thailand's economic foundation, attributing its GDP to a high baseline compared to lower baselines in neighboring countries.
To accelerate economic growth, Boonsithi suggests implementing "quick win" measures within 3-6 months to swiftly restore investor confidence, attract foreign investment, and revitalize the capital market. He explained that strengthened partnerships with Japanese businesses operating in Thailand serve as testament to Japanese investors' continued trust in the Thai market, despite economic struggles in Japan.
In terms of medium- to long-term strategies, Boonsithi presses for the government to push forward large-scale investment projects, including the expansion of the Eastern Economic Corridor (EEC), development of a southern land bridge, and reconsideration of the Kra Isthmus canal project to improve Thailand's logistics network, facilitating direct exports to Europe without bypassing the Malacca Strait, while also fostering trade with Taiwan and Japan.
He argued that immediate action is vital to leverage Thailand’s economic opportunities and comparative advantages, warning that delays in policy execution could deter investment. The “quick win” approach is intended to serve as a catalyst for broader, strategic investments while stabilizing the market in the short term.
However, Boonsithi dismisses direct cash handout measures, arguing that they fail to contribute to real economic growth but are merely political campaigning tools. Instead, he advocates for national development projects that foster genuine growth.
Despite economic fluctuations, Saha Group has remained resilient, growing when the economy thrives and expanding, albeit more slowly, during downturns. The company prioritizes stability, risk management, and financial security, avoiding excessive reliance on loans or foreign debt.
- Tags
- Saha Group
- Boonsithi Chokwatana
- economy
- US tariffs
- GLOBAL ECONOMY
- US-China Trade War
- measures
- GOVERNMENT
- economic stimulus
- Boonsithi Chokwatana, the chairman of Saha Group, has advocated for the Thai government to implement swift measures, such as quick win strategies and large-scale investment projects, to boost the stock market, stimulate the economy, and attract foreign investment.
- Boonsithi Chokwatana, from the Saha Group, has expressed optimism that despite challenges posed by US President Trump’s tariff policies and the US-China trade war, the brief period of slow global economic growth will be followed by a stabilization and recovery of the capital market.
- In the midst of the ongoing US-China trade war, Boonsithi Chokwatana from Saha Group has urged a neutral stance for Thailand, emphasizing that in trade wars, the best strategy is to avoid leaning left or right and maintain balance.
- Boonsithi Chokwatana, from Saha Group, maintains a positive outlook for Thailand's economic foundation despite repeated GDP target cuts and slower growth compared to neighboring countries, attributing its GDP to a high baseline compared to lower baselines in neighboring countries.
