Bangkok, Economist Recommend adjustments to support an aging society Looking for a way to clear retirement debt, ask the BoT about high interest rates, fearing an impact on the economy. Accelerate to build confidence and draw capital back to the country. The Federation of Thai Industries recommends adjustments. Follow world trends and take care of the environment Mr. Narongchai Akrasanee, Chairman of the Board of Ananta Development Public Company Limited, said at the seminar 'Breaking the Economy in the Year of the Big Snake, Inviting to Build a Sustainable Thailand' that Thailand is beginning to enter an aging society. You must know how to manage your assets because right now, people aged 16-30 years have more debt than debt. Because they are building themselves, but at the age of 31-45 and at the age of 46-60, the group has more assets than liabilities. Then, when the elderly are 60-75 years old, they will return to debt as before. Therefore, the elderly society must be managed to have assets. to take car e of oneself to survive at the end of life Due to the urban society, the elderly people are starting to become lonely. Therefore, you must find a way to take care of yourself. Both financial and health If you are not prepared, you will have problems when you are elderly. Mr. Supawut Saichuea, Advisor to the Financial Business Group Kiatnakin Phatra Securities Company said that the current policy interest rate is 2.5 percent while inflation is still negative. But it is considered to have a severe impact on the economy. than the Bank of Thailand expected Because it weakens purchasing power When looking at data from the past 5 years before the COVID-19 problem occurred, the average policy interest rate was 1.7 percent while inflation was low at 0.6 percent, but it had some impact on the economy. While current interest rates are high It has affected the purchasing power of the people. and private investment a lot. Therefore, I would like to ask the BoT whether or not it is necessary to wait for a severe crisis t o occur in order to use monetary policy. Even though there is currently no economic crisis. You must find a way to cope so that there are no serious problems. What is the Thai economic situation this year? Many factors must be considered even though the tourism sector There are signs of recovery. When the Chinese economy has problems, interest rates tend to increase. Make the baht stronger This may be another factor affecting tourism this year. If promoting investment in industries such as digital, clean energy, semiconductors There will be more capital flowing in to invest in debt instruments and equity instruments because in the past 5 years, the Thai stock market has not improved due to lack of confidence. Lack of confidence, the government must build confidence. Attracting foreign investment To make foreign capital flow in Mr. Kriangkrai Thiennukul, Chairman of the Federation of Thai Industries, said that many industrial sectors currently pay wages of 700-800 baht per day to quality workers. In order to upgrade the production sector, therefore, Thailand must create new engines. Adapting to support new rules including trade barriers that are not tariffs To find your own selling point recognizes that European Union investors Many people are interested in investing in Thailand. Therefore, we must prepare to receive investment expansion. including readiness for green energy Various aspects of infrastructure Be ready or foreigners will flee and disappear. and may lose the opportunity What needs to start changing is Changing from contract production becoming a production network Changing from labor to using digital technology, changing from production for profit Become a production along with caring for the environment. Change from low quality labor Become a quality worker Creating new engines drives the economy Must adhere to the trends of the modern world Focusing on caring for the environment, BCG promotes investment in future industries. Environmental care industry. Source: Thai News Agency