Thai Enquirer
JSCCIB warns AI-led growth bypassing SMEs, calls for structural reforms
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Thailand’s private sector warned on Wednesday that the country’s economic recovery remains uneven despite strong exports and foreign investment, with small businesses and households failing to benefit from AI-driven growth and rising investment in da
Key facts
- The JSCCIB maintained its July economic outlook, forecasting GDP growth of 1.6-2.0%, export growth of 8.0-10.0% and inflation of 2.5-3.0% in 2026.
- The committee reiterated its support for structural economic reforms, despite Thailand improving to 26th place in the 2026 IMD World Competitiveness Ranking from 30th a year earlier
- On energy, the committee said risks to global supply chains had eased following the temporary ceasefire between the United States and Iran, helping push oil prices down to about US$68 per barrel in June from US$75 before the truce
- The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) said exports and foreign direct investment (FDI) continue to expand, supported by global investment in artificial intelligence (AI) and data centres
Summary
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) said exports and foreign direct investment (FDI) continue to expand, supported by global investment in artificial intelligence (AI) and data centres. However, the gains have not translated into broader economic activity or employment, leaving the economy on a K-shaped recovery path.
The committee said household purchasing power remains weak due to high living costs and a softer labour market, while manufacturing capacity utilisation remains low, particularly in traditional industries. SMEs and businesses operating outside the formal economy have also been left behind.