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Thailand targets high-income status within 12 years
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BANGKOK — The government has set a goal of turning Thailand into a high-income country within 12 years as part of a new long-term economic strategy developed jointly with the private sector.
Key facts
- BANGKOK — The government has set a goal of turning Thailand into a high-income country within 12 years as part of a new long-term economic strategy developed jointly with the private sector.
- Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas announced the target following the first meeting of the Joint Public-Private Consultative Committee on Economic Problems, chaired by the prime minister on 22 June.
- As a medium-term target, the government aims to place Thailand among the world’s top 20 most competitive economies by 2030 while raising the country’s economic potential growth rate from around 2.7% to above 3%.
- Ekniti said Thailand also aims to increase investment from the current 22% of GDP to close to 30%, describing investment as a key driver of future economic growth.
Summary
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas announced the target following the first meeting of the Joint Public-Private Consultative Committee on Economic Problems, chaired by the prime minister on 22 June.
Ekniti said the committee had agreed that Thailand needed clear short-, medium- and long-term economic goals. The long-term objective is to achieve high-income country status within 12 years.