UN, Thai govt champion inclusive digital economy and sustainability
Commerce Minister tells forum that Thailand is fully committed to sustainable business as it transitions to a digital economy
The Thai government has reaffirmed its commitment to ensuring no one is left behind as the country transforms towards a digital economy and sustainable business, Commerce Minister Pichai Naripthaphan announced on Monday.
Speaking at the “Inclusive Business – A Catalyst for Change to an Equitable Society” forum, Pichai emphasised the kingdom's urgent need to adopt new technologies and innovative approaches. He highlighted the rapid technological advancements over the past decade, including more affordable satellite production and enhanced problem-solving collaboration.
Despite Thailand’s advanced telecommunications infrastructure, Pichai stressed the need for continued investment in new ideas and project transformations. He noted that while emerging technologies like Artificial Intelligence present challenges, they also offer significant market expansion opportunities.
The Commerce Ministry has implemented the “Reduce Expenses, Increase Income, Expand Opportunities” policy to manage living costs and support grassroots citizens. This initiative involves collaborating with more than 130 private sector entities to reduce consumer goods prices through “Blue Flag” stores, community shops, and 140,000 local retail outlets, with an expected economic circulation of 110 billion baht.
UN resident coordinator Michaela Friberg-Storey commended Thailand’s public and private sector efforts towards sustainability. Following the COP29 meeting in Baku, Azerbaijan, which established a $1.3 trillion annual climate finance target, Thailand has demonstrated significant leadership in sustainable investment.
The country’s private sector drives investments, with 75% of last year’s investments coming from private sources and accounting for 90% of GDP. Small and medium enterprises (SMEs), representing 99.6% of businesses, play a crucial role in the green transition.
The UN Global Compact Network Thailand has committed $46 billion towards sustainable development, aiming for carbon neutrality by 2050 and investing in human capital. Thailand has already mobilised $19 billion for ESG projects and plans to issue $3.8 billion in sustainable bonds in the 2025 fiscal year.
The UN Secretary-General emphasised that climate finance is an investment, not charity, and climate action is a necessity. Thailand continues to contribute meaningfully to global sustainability efforts.
