Turning Thailand into a trading hub would be the first step towards long-term economic development, and a digital economy would add to its advancement, he said yesterday.
"Without making Thailand a trading hub and attracting greater trading activities, there is no hope for GDP growth to expand beyond 4% in the long run," MR Pridiyathorn said.
The country has struggled to achieve its growth potential of 4-5% for several years, as it is losing competitiveness against rivals and has often been gripped by political turmoil.
The government will implement policies to jump-start the digital economy to serve the private sector's needs through developing hard infrastructure such as a national broadband network, digital gateway...
Soft infrastructure, mainly involving laws and regulations related to cybersecurity, e-commerce and paperless public services, will also be developed to enhance private sector confidence in terms of online...
Regarding the move to develop Thailand into a trading hub, proposed taxation laws will be forwarded to the National Legislative Assembly (NLA).
No taxation on capital gains of a Thai company with a foreign subsidiary that repatriates its profits to Thailand is an example of these laws, he said
Since Thailand has experienced a labour shortage and labour costs have risen considerably, it is difficult for private investment to increase above the 20% threshold of GDP, and economic growth will subsequently...
Prime Minister Prayut Chan-o-cha has identified four critical issues for the development of a digital economy that the government needs to accelerate.
They are the creation of a national broadband infrastructure, the auctioning of a spectrum to provide fourth-generation (4G) wireless broadband services, the establishment of a national government data...
Gen Prayut said next year the government wanted internet access to reach every village and 4G licence auctions to take place.
Gen Prayut said next year the government wanted internet access to reach every village and 4G licence auctions to take place.
The government expects to endorse the establishment of a national digital economy committee and the renaming of the ICT Ministry as the Digital Economy and Society Ministry this month.
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