15 Jun

TCC chairman Sanan Angubolkul said he told Deputy Prime Minister Supattanapong Punmeechaow that the government needs to expedite its regulatory process, either by amending or removing laws and regulations, to help people to conduct business, particularly those related to the tourism sector.He said the government needs to revamp regulations urgently, to allow wealthy foreigners to enjoy longer stays in Thailand, which would help the economy recover, while rigid rules need to be eased to give financial institutions more freedom to approve new loans, providing liquidity to troubled entrepreneurs.Mr. Sanan added that financial institutions should be allowed to use their own discretion in approving loans, by taking into account applicants' prudent and effective business plans, to drive their business growth and supply chains, rather than the applicants' credit records compiled by the National Credit Bureau. 

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