Thailand Development Research Institute (TDRI) urges the government to step up efforts to guillotine outdated laws, which hinder business activities and cause 1.3 trillion baht in unnecessary expenses, as part of the state economic recovery for the post-pandemic period.
Without more serious action to guillotine outdated laws, or “GOL” as TDRI president Somkiat Tangkitvanich calls it, Thailand will find it difficult to improve its competitiveness and return to the high GDP growth registered before the 1997 Asian financial crash.
TDRI estimates mandatory regulations for the process of asking for licences to operate businesses lead to massive unnecessary expenses every year, which is a major hindrance to Thai economic development, said Mr Somkiat.
For hotels and Thai massage businesses, investors bear almost 4 billion baht a year in asking the state permission to…
