The Federation of Thai Industries (FTI) plans to submit a "position paper" detailing the economic policies preferred by businesses to a new government once it is successfully formed.
Montri Mahaplerkpong, vice-chairman of the FTI, said the group is in the final stage of drafting the paper and expects to approve it at the end of this month.
"The position paper will feature our stances and clarify what the private sector needs from the new government," he said.
The FTI wants the Move Forward and Pheu Thai parties, which gained the most votes in Sunday's election, to accelerate the formation of a coalition government in order to continue key economic policies initiated by previous administrations.
These policies include a plan to turn parts of Chon Buri, Rayong and Chachoengsao into a high-tech industrial hub under the Eastern Economic Corridor scheme, as well as the promotion of electric vehicle production and consumption.
The FTI also wants the new government to support bio-, circular and green economic development, which was declared a national agenda item by the Prayut Chan-o-cha administration.
"If things go smoothly, the appointment of a new cabinet should be made in early August," said Mr Montri. "A delay in forming the government will affect budget planning for the new fiscal year."
Thailand needs government spending to stimulate its economy, he said.
The FTI wants authorities to remove obstacles to investment and trade, as well as bolster the country's competitiveness.
Thailand fell to 33rd in the International Institute for Management Development's World Competitiveness Ranking of 63 economies last year, from 28th in 2021, partially attributed to the impact of the pandemic.
Expensive electricity prices and a policy to increase the daily minimum wage are among the issues that affect the country's competitiveness, according to the FTI.
The federation reported on Tuesday April's Thailand Industry Sentiment Index (TISI) dropped for the first time in four months to 95 points, down from 97.8 points in March. The decline was attributed to a drop in goods purchase orders overseas as the global economy cooled, along with many days off during the Songkran festival that decelerated manufacturing.
Expensive power bills and interest rate hikes were major concerns among the 1,164 companies surveyed to compile the April TISI.
