9 Feb 2026 Bangkok — Mr. Kriangkrai Thianukul, Chairman of the Federation of Thai Industries (FTI), commented on the political situation and recent election results, saying the private sector hopes Thailand will have a suitable government composed of good, capable, and knowledgeable people. The makeup of the government and cabinet directly affects public and investor confidence. He also expressed a desire to see the new government formed quickly so that national administration and economic policy implementation can proceed continuously.
Mr. Kriangkrai added that 2026 will be a very challenging year for both the Thai and global economies. The private sector’s top request to the new government is to urgently address economic issues and the people's livelihoods, which is currently the biggest crisis. Household debt in Thailand stands at nearly 90% of GDP, and when including informal debt, the figure may be about 104%. This indicates many people's incomes do not match their expenses, leading to a significant loss in purchasing power within the economy.
Additionally, there are at least three to four urgent issues the new government must quickly address, including:
1.The crisisfacing SMEs, especially operators with credit lines below 500 million baht, where the non-performing loan (NPL) ratio is rising worryingly.
2. The export sector, the main engine of Thailand’s economy, is under pressure from a strong baht, which affects competitiveness.
3. SME liquidity problems due to ongoing contraction in bank lending. Financial institutions are cautious about lending because of NPL risks, causing many operators to suffer severe liquidity shortages. The government must implement targeted and precise financial injection measures.
4. The influx of cheap imported goods, especially from China, entering the market both legally and illegally, which causes many Thai businesses to be uncompetitive and forced to close.
From the business perspective, Mr. Kriangkrai said that the currently popular political parties, especially the Bhumjaithai Party, have demonstrated economic preparedness in a short time by forming an experienced economic team with strong profiles that work closely with the private sector. This is a new approach never seen before and helps build confidence among businesses and the public.
The private sector has long been concerned about policy discontinuity, but if there are signs that the existing economic team can continue working, various measures can proceed immediately. Particularly the cooperation between the government and the Joint Private Sector Three-Agency Committee (JPSC), which regularly meets at the economic cabinet level and pushes urgent measures known as “Quick Big Wins,” already showing short-term results.
However, once a full cabinet is formed, the private sector would like to see professional personnel added to key economic ministries to ensure more complete and powerful economic management.
At the same time, the private sector and the JPSC agree that fighting corruption must be elevated to a national priority, as corruption is like a cancer eroding the economic system and causes budget leakage. Effectively combating it would plug these leaks and improve overall economic policy efficiency.
A crucial condition for political stability, according to the private sector, is forming a government coalition with more than 300 seats to ensure smooth economic policy implementation, reduce friction, and build long-term government confidence.
Additionally, the political parties joining the government should collectively enhance the government’s image and credibility, both in the eyes of the public and investors domestically and internationally.
“If the new government gains the trust of the people, the most important thing is to use that power to seriously solve economic problems and improve the quality of life for citizens. It must select professional teams, build confidence, and cooperate with all sectors so Thailand can overcome this challenging period steadily,” Mr. Kriangkrai said.
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