A new government, led by the Move Forward Party, should pay heed to high living costs and expensive electricity bills and continue to promote the domestic steel industry, says Somsak Leeswadtrakul, a steel magnate and philanthropist.
Solving a surge in the cost of living, especially among low-income earners, should be among the first priorities of the new government.
"Now everyone is pinning their hopes on the new government to deal with this issue," said Mr Somsak, also executive director of the Iron and Steel Institute of Thailand.
Entrepreneurs in the manufacturing sector are also struggling to deal with high energy costs, especially monthly electricity bills.
Though the government managed to reduce the power tariff, energy bills remain expensive.
Mr Somsak said he is worried over the surge in electricity prices in Thailand, which have become more expensive than those in neighbouring countries.
This would affect Thailand's competitiveness, he said.
Mr Somsak asked the new government to seriously and carefully deal with electricity issues because this will not only help businesses but also prevent the passing of financial burden on to customers.
In the steel industry, it is also important for the new government to better support local steel manufacturers, he added.
Currently, capacity utilisation in the steel industry is very low.
Mr Somsak said authorities must striclty implement an anti-dumping policy to prevent the influx of cheap and low-quality steel into the country.
Steel entrepreneurs, who have invested several billions of baht, and more than 200,000 workers in the steel industry, need better protection from the government.
Mr Somsak also wants the new government to promote locally-made products to enable domestic industries to grow further.
Many companies have invested a lot to sell their products and services. All of them want their businesses to stay healthy.
If the government can deal with these issues in the steel business and other industries, Mr Somsak is confident Thailand will become an industrial leader in Asean.
