"Aekniti" highlights Finance Minister visits Udon Thani, orders urgent debt resolution and SME support Promotes the "Fried Egg" model Integrates agencies and state banks, emphasizing this as the last chance to restructure the country; delay risks backwardness and missing the development train
Mr. Aekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, delivered policy directives at the Udon Thani provincial finance executives meeting, urging all parties to jointly drive the local economy to help the country through this transition. He stressed close cooperation with the private sector, which will lead growth in areas like modern agriculture—with support from the Bank for Agriculture and Agricultural Cooperatives (BAAC)—processed food, smart electronics, electric vehicles (EV), high-value tourism, medical services and hospitals, wholesale and retail trade, and the creator economy, drawing in young people and content creators such as TikTok users to build new income bases for the country.
To enhance work efficiency, the Ministry of Finance has defined a new framework under the D-E-E concept, consisting of
D (Data / Disclose) Public disclosure of data and government procurement transparency to allow budget usage monitoring.
E (Easy) Directed agencies such as the Revenue Department, Excise Department, and Customs Department to select one major service impacting citizens the most and simplify its procedures to the utmost.
E (Efficient) Improving civil servant efficiency by adopting digital technology to reduce unnecessary workload.
Mr. Aekniti explained the image transformation: "The Revenue Department was once seen as a giant with fangs. From now on, we will make our services as easy as possible, turning that giant into a smiling giant, cheerful and serving the public so that people will appreciate us more."
To drive policy forward, Mr. Aekniti compared the Ministry of Finance's structure to a "fried egg" model: the "yolk" represents the ministry’s departments, while the "egg white" refers to state specialized financial institutions and affiliated agencies such as the Government Housing Bank (GHB), BAAC, Government Savings Bank (GSB), Small and Medium Enterprise Development Bank of Thailand (SME Bank), and Krung Thai Bank.
"Both yolk and egg white must work in harmony to propel fiscal policy with strong momentum and effective enforcement. We are expediting surveys of non-performing loans (NPLs) under 100,000 baht among people in Upper Northeastern Thailand to implement fast debt resolution programs, enhance loan guarantees in the SME Credit Boost initiative, inject capital to assist small entrepreneurs (SMEs), and aggressively promote solar loans through three state banks down to district levels."
"I emphasize that this period is Thailand's last opportunity to restructure its economy. Without urgent reform, the country risks falling behind and missing the development train. The Udon Thani Provincial Finance Office and the Upper Northeastern provinces act as key engines driving the regional economy and must align closely with central policies to achieve clear results within one year and long-term goals over the next four years. I have boldly stated in various forums, including the IMF and World Bank, that this is Thailand's final chance. Failure to transition now could leave us lagging behind like other countries facing similar challenges," Mr. Aekniti concluded.
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