Thai economy moving toward a new era

The statement was part of his remarks "Thailand’s New Phase: Turning Opportunities into Realities,” made at the seminar, titled "Thailand Taking Off to New Heights,” on March 19, 2018 at the IMPACT Exhibition and Convention Center, Muang Thong Thani, Nonthaburi province.

Mr. Somkid said that Thailand has implemented three strategies in its economic drive. The first strategy involves investment in mega-projects, such as electric train systems in Bangkok and the provinces, double-track lines, high-speed train development, and airport expansion.

The second strategy seeks to promote investment in the Eastern Economic Corridor, linking with logistics systems in this region. The Eastern Economic Corridor of Innovation will also receive a major boost in order to support the Government’s policy on Thailand 4.0.

The third strategy involves investment in digital infrastructure, such as the installation of high-speed internet connections in various villages across the country. The e-government system is also being developed to enhance the efficiency of the public sector.

Meanwhile, Minister to the Prime Minister’s Office Kobsak Pootrakool said that the Government intends to reform the Thai economy, with an emphasis on innovation technology in order to enhance the country’s competitiveness. The reform comprises three major plans.

The first plan seeks to increase productivity and efficiency in major industries. In the second plan, Thailand will focus on economic integration with other countries in this region. For instance, it will promote investment in regional infrastructure development. The third plan seeks to create an ecosystem of research and development and innovation.

Mr. Kobsak stated that, over the past few years, the Government has established many policies, aimed at moving Thailand toward 4.0. A target has been set to turn Thailand into a developed country within 20 years.