Thailand’s new government prioritizes economic recovery, with special attention to the vaping indust

Thailand's newly formed cabinet is composed of many members of the Pheu Thai Party, Focus on economic recovery, and promised to reduce energy costs to reduce the financial burden.

Thai Prime Minister Sreta (also translated as Saita) has contacted various business sectors.

Picture from Bangkok Post

Federation of Thai Industries (FTI) Chairman Kriengkrai Thiennukul expressed optimism about the new cabinet, especially the Minister of Economy. He believes that the new government brings hope for a comprehensive recovery of the Thai economy, while also potentially making the economy strong.

The Confederation of Thai Industries is particularly keen on the new government's implementation of the 10,000 baht digital wallet plan to increase Thai personal purchasing power.

Brin Adurvatana, managing director and chief economist of Kaitai Bank Research Center, believes that this move will help stimulate economic activity and boost GDP growth.

The new government not only focuses on the real estate industry and tourism, also pays special attention to the development of the electronic atomization industry。hai Attawanich, Thailand's Deputy Finance Minister and Chairman of the Tobacco Authority of Thailand, said Thailand needs to consider a moderate tax on electronic atomization to reduce the problems caused by illegal electronic atomization products.

Although Thailand has banned the circulation, manufacturing and other aspects of electronic atomization, the number of counterfeit electronic atomization products on the market has accounted for an important share of the market, accounting for approximately25%。And because current electronic atomization is an illegal product, taxes cannot be collected.

Teerachai Attanawanich said," We should legalize electronic atomization products and incorporate them into the legal tax system to create revenue for the country while regulating imports and citizens 'health. We need to consider these factors when weighing national income and citizens 'health.”

Thailand's new government expresses hope to restore investor confidence, and look for new trade opportunities, sign more trade agreements, resolve tariff barriers, and support the trade flow of import and export companies to ensure the development of Thailand's economy.