PM Paetongtarn Addresses Slow GDP Growth, Calls for Strategic Investment

[webfact]

FILE PHOTO - Thailand's Prime Minister-designate Paetongtarn Shinawatra, with members of Pheu Thai party talks to reporters during a press conference at Pheu Thai party headquarters in Bangkok, Thailand, Friday, Aug. 16, 2024. (AP Photo/Wason Wanichakorn)

 

Prime Minister Paetongtarn Shinawatra recently addressed the challenges hindering Thailand's economic growth and laid out her vision for improvement. Speaking during her weekly "Empowering Thais" programme, she emphasised the slow GDP growth, which stood at just 2.5% last year.

 

She attributed this sluggish growth to a lack of substantial investment in emerging industries and inadequate preparation of the workforce for future demands.

 

Paetongtarn highlighted that neighbouring countries, such as Malaysia and Vietnam, had made strategic advancements by focusing on fields like semiconductor manufacturing and coding skills. Thailand, she noted, has lagged behind in these critical areas, stressing the need for upskilling and reskilling Thai workers to keep pace.

 

The Prime Minister also called on the private sector to play a more active role in economic development. She urged commercial banks to facilitate loans for small and medium-sized enterprises, enabling them to boost their investments and growth potential.

Another factor affecting economic growth, according to Paetongtarn, is the budgetary constraint due to high fixed government expenditures. She stated that her administration is committed to managing these expenses better, ensuring more funds are directed towards investment and attracting foreign capital.

 

Highlighting some positive steps, the Prime Minister mentioned that Thailand saw foreign investment projects totalling 1.13 trillion baht last year, the highest in a decade. She also pointed to future investments from global giants like Google, TikTok, and Nvidia as positive indicators for the economy.

 

Paetongtarn expressed her determination to see her government through its full term, aiming to stimulate investment and usher in exponential GDP growth. Her administration is focused on creating conditions for robust economic expansion through strategic investments and workforce development, reported Bangkok Post.

 

-- 2025-03-03

 

 

[TheFishman1]

I bet you’re her daddy told her what to say TIT

[Purdey]

Who among her ministers knows enough to guide her? 

[hotchilli]

On 3/3/2025 at 5:14 AM, webfact said:

She attributed this sluggish growth to a lack of substantial investment in emerging industries and inadequate preparation of the workforce for future demands.

You're the boss... sort it out

[JimHuaHin]

Meanwhile, most Thai economists are saying major economic structural reforms are needed; which will not happen as the super wealthy Thai businesses like the current system as they can make large profits.  Did not CPFoods declare last week that last year's profits were up 457? per cent last year?

 

International economic/financial bodies have been warning for most of the century that major structural reforms are need if Thailand is to advance, but .... TIT .... and connections rule.

[hotsun]

Most people are waiting for competent leadership before they invest. Currently the country is on a downward trajectory 

[phetphet]

Start with better schooling first.