Bangkok: Dr. Ekniti Nitithanprapas, the Deputy Prime Minister and Minister of Finance, has launched an official Facebook page titled "Dr. Ekniti Nitithanprapas" to communicate his mission and economic policies to the public. He emphasized the necessity of transitioning in response to the energy crisis impacting the cost of living.
According to Thai News Agency, Dr. Ekniti expressed his long-standing intention to create a platform for engaging with the public on macroeconomic issues, fiscal policies, and investment strategies. His first post provides an overview of his plans as he navigates the challenges arising from the energy price crisis, exacerbated by geopolitical tensions in the Middle East.
Dr. Ekniti began his term in Anutin's second government amidst this crisis, which has resulted in rising oil prices and increased living costs. He likened the situation to a chronic illness that needs immediate attention to prevent further complications. As the overseer of national income and expenditure, Dr. Ekniti is focused on short-term management while laying the groundwork for economic stability.
The 5 T principles-Target, Transition, Transform, Transparency, and Together-guide his approach. These principles aim to stabilize the economy, turn crises into opportunities, and invest in future growth, all while maintaining fiscal discipline. The government's "Quick Big Win" policies, initiated late last year, have been instrumental in achieving a tangible recovery of the Thai economy.
A key focus is the transition to clean energy to reduce vulnerabilities and build long-term stability. Dr. Ekniti stressed the urgency of this transition, pointing out the risks of continued reliance on traditional energy sources. He advocates for the promotion of clean energy vehicles and infrastructure, such as solar power and smart grids, while acknowledging the limitations of the national budget.
Investment in infrastructure, technology, and human capital is crucial for Thailand's economic transformation. The government has declared this year the "Year of Investment," with a focus on unlocking investment laws and attracting foreign direct investment (FDI) through mechanisms like the Thailand FastPass. These initiatives aim to integrate Thai entrepreneurs into global supply chains and improve the workforce's quality.
Dr. Ekniti highlighted the importance of collaboration with the private sector and ongoing reforms in public finance. Transparency and open discussions are fundamental to these efforts. He acknowledged the challenges of making macroeconomic policy decisions but remains committed to achieving long-term results for the country.
In conclusion, Dr. Ekniti emphasized the importance of teamwork and support from all sectors, including the government, civil servants, and the private sector. He promised regular updates via his Facebook page to keep the public informed about his activities and policies.