IMD identifies many problems hindering Thailand’s

Lack of continuity of government policies, corruption, complicated rules and regulations, and a lack of innovation and research are all holding back the Kingdom’s development, the study found.

Commerce Minister Apiradi Tantraporn said her ministry would show the results of the study to the Cabinet and relevant government agencies soon so as to draw up solutions and strategies for development in each problem area.

The IMD highlighted the lack of continuity of government policies and inconsistencies from agency to agency, corruption in government agencies, complicated and duplicated laws and regulations, lack of investment in human resources, education, innovation, research and development, and insufficient adoption of high technology.

The IMD suggested that agencies collaborate more when forming policies and working plans to reduce duplication.

The government should also draw up a time frame and clear-cut plans for solving these problems. It should also review laws and regulations that hinder the growth of the economy, and attract more foreign investment.

The institute also suggested that Thailand use its strengths in agriculture and food and take the next step of development by adopting high technology.

Apiradi said Thailand had the potential to be a centre of excellence in the food and agriculture sectors. Therefore, the government will promote their development from upstream to downstream, or from farming to marketing.

After adopting such solutions, Thailand’s competitiveness should improve, she said.

According to the latest report by the IMD, Thailand’s ranking was down from 27th among 60 countries in 2014 to 29th last year.