Nation Thailand
Rule of law seen as key to Thailand's OECD competitiveness push
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
◌ Single Source
At the Thailand Rule of Law Leadership Forum 2026: Competitiveness and OECD Readiness, a major forum on Thailand’s future direction, two key representatives from the public and private sectors shared the stage to outline a common direction.
Key facts
- Payong cited data reflecting the fragility of Thailand’s economic structure, saying the country is currently driven by an informal economy amounting to 48% of GDP, according to World Bank reporting.
- This has led to informal workers accounting for as much as 55% of the labour force.
- is an indispensable foundation if Thailand is to compete sustainably on the global stage.
- There is also a concentration of economic power, with just 1% of business operators accounting for 65% of GDP, while more than 99% of SMEs find it difficult to access opportunities and have low bargaining power in the market.
- The government’s key milestone is to secure full membership by 2028.
Summary
Representatives from the NESDC ( Office of the National Economic and Social Development Council ) and the Thai Bankers’ Association identified problems and laid out a roadmap for OECD ( Organization for Economic Co-operation and Development ) membership by 2028, presenting a picture of structural weaknesses in the Thai economy while agreeing that the “rule of law” is an indispensable foundation if Thailand is to compete sustainably on the global stage.
Payong Srivanich, chairman of the Thai Bankers’ Association, represented the business and financial sectors in presenting his vision, pointing to the urgent need to improve the country’s “software”, or the rule of law, to build investor confidence and raise Thailand’s competitiveness internationally.