Thai Business Leaders Call for Government Push to Attract Foreign Investment Amid Global Uncertainty
Thailand's Joint Standing Committee on Commerce, Industry and Banking has urged the government to capitalize on global uncertainties to attract foreign direct investment and encourage multinational corporations to relocate operations to the country. The committee sees opportunities particularly in digital, electronics, AI, and data centre industries, which have already driven 48.4% of Thailand's 18.9% export growth in the first four months of 2024. The push aims to support Thailand's economic transformation while ensuring benefits are broadly distributed across the economy rather than concentrated among higher-income groups.
Thailand's business leadership has made a formal appeal to the government to strengthen efforts attracting foreign direct investment and multinational relocation, citing both global risks and opportunities. The Joint Standing Committee on Commerce, Industry and Banking, led by Thai Bankers' Association chairman Payong Srivanich, argues that prolonged Middle East tensions and broader global uncertainty create a window for Thailand to position itself as a preferred destination for manufacturing and regional operations. The committee specifically highlights growth in AI, data centres, and advanced electronics as sectors where Thailand can compete. The committee has upgraded its economic forecasts, raising the 2026 export growth outlook from a projected contraction of 0.5-1.5% to growth of 8-10%, and increasing GDP growth expectations from 1.2-1.6% to 1.6-2.0%. However, the business leaders emphasize that foreign investment should strengthen supply chains and create broad-based benefits rather than exacerbating Thailand's K-shaped economic growth, where lower-income groups have been left behind despite strong export performance. The committee also supports the government's 170-billion-baht stimulus scheme while cautioning that policymakers must maintain economic stability to preserve investor confidence.
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- Bangkok PostCenter
Call for greater focus on foreign investors
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