Bangkok: Academics are urging the Thai government to engage in discussions with the private sector with the aim of upgrading the nation’s economy, rather than simply catering to capitalist interests.
According to Thai News Agency, this call for dialogue is seen as an essential step towards building a cooperative framework between the public and private sectors, based on mutual dependence, to strengthen the Thai economy.
Associate Professor Olar Thinbangtiao from the Faculty of Political Science at Burapha University has weighed in on the government’s initiative to hold talks with the business sector at Government House. He highlights that the focus should not solely be on the tight-knit relationship between the government and capital groups, but rather on the broader “economic goals” that these public-private partnerships intend to achieve. Given the current global economic landscape, marked by economic warfare, technological competition, and fluctuating production costs, there is a pressing need for collaborative efforts to address these challenges.
Under the leadership of Prime Minister Anutin Charnvirakul, the government’s opening of dialogue with the business sector is portrayed as a strategic move to involve multiple sectors in addressing economic issues and propelling the country’s economy forward. The real economy, which includes production, investment, and labor markets, is most acutely felt by the private sector, making their input invaluable for realistic problem-solving. This partnership is described as a symbiotic relationship where both the government and private sector benefit from each other’s strengths, rather than a scenario where the government is subservient to capitalists.
Associate Professor Olar also emphasizes the concept of “Collaborative Governance,” where the government acts as a facilitator of collective efforts rather than exerting unilateral authority. The private sector, serving as a “real economic database,” provides crucial information on various economic facets, enabling the government to formulate policies that better align with actual market conditions. The success of these forums, however, hinges on the government’s ability to transform feedback into effective policies, assign responsible agencies, monitor outcomes, and implement measures concretely.
Looking ahead, such forums are seen as potential catalysts for “restructuring the Thai economy,” focusing on target industries, infrastructure development, and regulatory reforms to enhance competitiveness. It is also crucial for the government to ensure that these forums are not perceived as exclusive to large capital, acknowledging the vital roles of SMEs, local entrepreneurs, startups, labor forces, and the agricultural sector in shaping economic policies. A comprehensive forum that includes all stakeholders will likely lead to more balanced policies that address the needs of the grassroots economy.