Thai PM addresses the Parliament

The Thai Prime Minister Anutin Charnvirakul presented his government's policy agenda in front of parliament on Thursday. He focused on growth, debt reduction and measures to reduce business costs.

In his 'policy statement',?Anutin pledged?broad reforms in the economy, including an omnibus law to be introduced this year, which will repeal outdated laws. A "super licence", expected within 180-days, will streamline approvals and reduce business costs.

Anutin stated that the government would "solve" the problems by restructuring the economy, and the society in order to adapt to the changing global dynamics.

Anutin said his government will also respond to the conflict in the Middle East by managing fuel and energy prices. He added that biofuels would be used to reduce oil imports.

Thai law requires that lawmakers debate the policy agenda over a period of two days before the cabinet is allowed to begin its official duties.

The government has also promised to continue its 'consumer subsidies programme. It will open the electricity market, create a carbon credits exchange, offer green financing, and encourage consumers who generate clean energy to do so. The government will also focus on investments in 'artificial intelligence' and semiconductors.

Anutin's Bhumjaithai Party won the February elections and formed a coalition with the former ruling Pheu Thai Party, as well as smaller allies. The bloc now has 292 seats out of the 500 members in the lower house. (Reporting and editing by David Stanway, Panarat Thepgumpmanat and Chayut Seboonsarng)

(source: Reuters)