The proposal, which has been presented to the government, aims to address structural issues and accelerate economic growth
Key points include:
Wisit Limluecha, TCC’s vice chairman and president of the Thai Future Food Trade Association, emphasised the importance of showcasing Thailand's strengths, including its robust infrastructure and key industries such as automotive, food, and tourism, as well as its appeal to investors in emerging sectors like electronics.
The chamber’s recommendations coincide with Thailand’s rise to 25th place out of 67 economies in the 2024 World Competitiveness Ranking by the International Institute for Management Development (IMD). While this represents a five-place improvement from the previous year, the country still faces challenges in areas such as government efficiency and infrastructure.
Wisit also noted that while the economy remains attractive for investment, the government should implement supplementary stimulus measures to enhance economic growth and tackle structural issues. The recent approval of the Ease of Doing Business Bill and a notable increase in foreign direct investment applications reflect growing confidence in Thailand’s economic prospects.
Investment and economic outlook
The Thai economy has shown resilience, with strong foreign direct investment (FDI) inflows. The Board of Investment (BOI) reported a significant increase in investment applications, particularly in sectors such as electronics, digital technology, and automotive.
However, the TCC warns that the country’s growth potential may be limited without further reforms and government support. The private sector has called for additional stimulus measures and a focus on long-term structural reforms to sustain economic growth.