Thailand Pushes for Future Economy Through Competition Reform, Says Deputy PM

Deputy Prime Minister and Minister of Commerce Supattanapong Punmeechaow emphasized that fair competition must be a pillar of national strategy. He urged the Office of Trade Competition Commission (OTCC) to transition from a law enforcer to a "proactive regulator" to facilitate new business entry and support the growth of Small and Medium Enterprises (SMEs). He indicated a review of government regulations that act as barriers to market entry, using a "competition lens," believing that clear rules and an open market will transform "competition" into a driving force for the Thai economy. During his special lecture at the international conference "TCCT Competition Day 2026" in Bangkok, themed "Transforming Thailand: Competition Landscape Reform for a Future-Ready Economy," Supattanapong highlighted that the world is undergoing multifaceted changes in geopolitics, geoeconomics, digital technology, AI, the environment, and demographic structures, which are altering economic rules. He stated the need to shift from traditional low-cost competition to competition based on speed in learning and adaptation, and from selling mere products and prices to competing on value, innovation, standards, and trust. He stressed that strengthening the domestic market is the foundation for Thai businesses, especially SMEs (approximately 3.3 million companies, accounting for 99.5% of all businesses), to compete in the global market. He asserted that if potential SMEs are given opportunities to compete, they can become new economic engines for the country, thus competition policy should be a national strategic pillar. The first transition involves moving from reactive problem-solving to designing competition from the outset. Using a "competition lens" will help identify if government regulations or measures are barriers to competition or market entry. He praised the OTCC for evolving into a "proactive regulator" that prevents structural and behavioral issues that could affect competition before they arise, and for integrating competition principles into the government's overall policymaking process. The second transition is from protecting operators to protecting competition opportunities. A fair competitive landscape not only helps small businesses survive but also creates space for capable entrepreneurs to grow and innovate, becoming new forces for the Thai economy. The third transition is from fragmented supervision to system-wide cooperation. This involves strengthening collaboration between government agencies, businesses, academia, and the public, as well as expanding cooperation with ASEAN, the OECD, and the World Bank to build a "competitive ecosystem" where businesses of all sizes can access opportunities and grow. Supattanapong reiterated that three key directions for discussion are crucial: 1. Rules must keep pace with the market, especially in the digital economy era. 2. Rules must create opportunities for new entrepreneurs and SMEs to enter the market and connect with large businesses, enabling fair coexistence. Measures already taken by the OTCC include setting credit terms to foster competition and coexistence between large enterprises and SMEs, and temporarily suspending fee increases (GP) for some digital platform operators for six months. He also mentioned integrating cooperation between the Ministry of Commerce, the Ministry of Digital Economy and Society, the Electronic Transactions Development Agency (ETDA), and the OTCC to ensure fair, accurate, and transparent fee structures. He acknowledged that these initiatives might not proceed as rapidly as some expect due to the need for transparency, fairness to all sectors, and careful adherence to legal authority. However, he concluded that by advancing these three aspects, competition reform will not merely be a legal amendment but a reform of Thailand's economic opportunities. "Because fair competition is the power of growth, to jointly create an open, fair, competitive, and future-ready Thai economy," he stated. Information source: INN News