General election

Chatrudee Theparat

Former Federation of Thai Industries (FTI) Supant Mongkholsuthree takes a new role as politician and join the candidate list for prime minister’s post in the second rank of Thai Sang Thai party.

Mr Supant aims to use experience more than 20 years in working under an umbrella of FTI and three terms of chairman of FTI to solve economic problems, especially among small and medium enterprises, micro businesses and those having less opportunity.

He has entered politics as the Thai Sang Thai Party’s economic chief and deputy chairman, as well as the second candidate for prime minister of the party in the coming general election on May 14.

“I am from private sector and had run small business before so I have known obstacles in doing business, especially among small and medium enterprises, micro business and those having less opportunity.”

Mr.Supant Mongkholsuthree

Mr Supant established T.K.S. Technologies Plc as a small stationary shop and later to become one of the major security printings in Thailand, and also owns SET-listed Synnex (Thailand) Plc, a major importer of technology products. His companies paid corporate income tax of one billion baht in the past ten years.

He said the party aimed to reduce economic disparity and ease access to financial support of the general public with three topics including empowering small businesses and general public, generating income, and creating opportunity among ordinary people.

“Working with the government under the joint public private consultative committee, especially during three years of Covid-19 pandemic, gave me an opportunity to see the bureaucracy system problem as a cause to obstruct economic development in short and long term.”

Thai economy is likely to have drastic problems because a trade deficit of more than 100 billion baht, and feel impact from the world’s economic recession. The statistics showed Thai export to shrink for two months, while household debt reached 90% last year considered high.

He said the party aims to solve household debt among Thais having less opportunity. Currently Thai people had 14 trillion baht debt via banks and non-bank.

The party would propose to rehabilitate bad debt, debt suspension for micro businesses incurred during the Covid-19 pandemic, and the program would help ease financial trouble of 3-4 million debtors who are blacklist of the National Credit Bureau, worth around 10-12 billion baht by paying interest for them.

The three funds would be established including the fund for rehabilitation program with a guideline to restructuring, SMEs Fund or Sang Thai Fund worth 300 billion baht to assist SMEs, micro businesses, community businesses and start-ups to run their businesses, and the fund to assist ordinary people borrowing 5,000-50,000 baht with a 1 % monthly interest.

In order to support Thai people earning more income, the party would propose to cancel 1,400 laws, which make operation of small businesses face difficulties. Apparently, the existing legislations related to Food and Drug Administration (FDA) have created obstacles in doing business about food, cosmetics, pharmacy and medical equipment, while the Thai Credit Guarantee Corporation (TGC) would give a credit guarantee of 60%.

SMEs would get an exemption of income tax for three years, as well among ordinary people who have income not exceeding than 300,000 baht.