Home Business Thai Retailers Association instituted a 7S Recovery plan to revive the economy, stating that Covid smashed retail and service losses of 800 billion baht.

Thai Retailers Association instituted a 7S Recovery plan to revive the economy, stating that Covid smashed retail and service losses of 800 billion baht.

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Thai Retailers Association reveals that Covid has a heavy impact A total of 1.85 million Thais have been infected, resulting in the loss of retail and service value of more than 800 billion baht, an increase of 3.2 million unemployed people, and a record increase in corporate and household debt. Hope to awaken the Thai economy in the first curve of 65 to recover 1.5 trillion baht

Mr. Yon Phokasub, President of the Thai Retailers Association revealed that Thailand is one of the countries in the ASEAN region with the lowest economic growth. And there’s also a deep and wide economic scar. Compared to other countries affected by COVID Therefore, the government has to accelerate to speed up recovery from the current negative GDP continuously by planning strategies and support plans to accelerate economic recovery both in the short and long term. The approach to recovery should start from stimulating private consumption to laying a solid and sustainable economic foundation.

The association We would like to present a 7 S Recovery approach to urgently restore the Thai economy as follows: 1.Stimulus Consumption Thailand at the moment needs to restore the whole economy, not just a remedy. But it must be a revival to get up and move forward with the business. The first step must be the government’s duty to inject money. Log in quickly, on target, and effectively to boost domestic spending. Encourage Thai people to travel to Thailand, using Thai things at the end of this year, continuing until the first quarter of next year. (Nov.21-Jun.65)

At the same time, the project budget must be increased by half. and the more you can use Including bringing back the Shop Dee Mee project by increasing the limit to 2 hundred thousand baht from December across the year until February 65 The government must have a policy to reduce household expenses. to increase the purchasing power of consumers by reducing utility bills internet fee From Dec. 64-June 65, overall, the first S will be able to generate money circulating into the economy. From now until June 65, not less than 1.5 trillion baht or about 10% of GDP.

2. Support Employment: The COVID epidemic has affected employment, especially in the trade and service sectors, where more than 11.2 million people are employed and most of them are informal workers. It is expected that workers in this group will be unemployed and those who are unemployed. (Those who work less than 4 hours a day) not less than 3.2 million people. The government must have a policy of measures to maintain employment. Reduce the burden of expenses with tax measures to prevent staff reductions or layoffs Hourly Hiring Trial To be consistent with the service to the consumer that comes from time to time Specifically, this applies to retail and restaurant businesses first. Upskill Reskill and New Skill measures provide workers with skills to meet their needs. and promote online learning on the platform of the Ministry of Higher Education, Science, Research and Innovation.

3.Strengthen SME According to OSMEP’s data, it was found that the number of SMEs across the country were over 3,070,177, of which 44.58% were in the retail sector and 35.73% were in the service sector. food and drink The government must urgently provide funding sources to support these SMEs to survive, especially small SMEs whose access to funding is more difficult than large ones. In addition, there should be measures to suspend debt for SMEs who have been severely affected. in order for the business to recover quickly maintain employment As a result, the Thai economic system returned to stability again.

4.Speed ​​Up Digital Economy The government must have a policy to reduce regulations and develop Cloud Computing, AI and Data Center systems to be ready for the digital economy that will be the heart of driving the economy more. The government and the private sector must work together to create a positive circuit in the use of digital technology for those who may not be familiar with the online world. Because digital skills are the most important thing right now.

5.Simplify Regulation adjusting various laws and regulations That will help make doing business easier and more convenient (Ease of Doing Business), which will help reduce costs directly. and reduce business opportunity costs by up to 130 billion baht per year or 0.8% of Thai GDP

6.Sustainable Public Health Public health system is something that must be given importance and cannot be ignored. Monitoring, controlling and careful. close covid epidemic able to solve problems promptly and on the spot, for example, if the country is opened and the number of infected people increases Consider lockdowns in areas where the spread of the disease occurs. There is no need to lock down the whole country. Protection Entrepreneurs strictly follow Covid Free Setting measures according to the standards of the Ministry of Public Health. In order to prevent the Build Herd Immunity outbreak, the state has to speed up vaccination to complete 2 doses, at least 70% of the Thai people in the whole country in order to have group immunity or accelerate the injection of complete doses in pilot provinces to open countries that tourists travel to. Come to Stay Healthy, card citizens must not fall. and must strictly adhere to universal prevention hygiene standards.

7. Spike Up Private Investment The government sector must continuously support private investment. Because it will cause more production and employment. This will help people’s consumption to expand immediately and lead to sustainable growth of the Thai economy.

by the Thai Retailers Association Foresee this is a juncture. It is the last curve of the Covid crisis and the first curve of new hope for the Thai economy. Therefore, the current economic recovery must look beyond the shock of the future. rather than relying on remedies alone All parties must work together to drive the economy through strong strategies. Take action seriously and immediately Learn to live with covid carelessly on the basis of safety measures. so that we can live normally drive the economy back to bustling Ready to open the country to welcome everyone without worry.

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