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Experts urge Thailand to derive more value from rising investment
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Experts at a Bangkokbiznews roundtable have urged Thailand to ensure that the latest wave of investment creates deeper links with domestic supply chains, transfers technology and supports higher-value industries as the country faces sharper regional competition.
Key facts
- Speakers at “KT Dialogue: New Horizon – Thailand Investment Play”
- Thailand imports nearly THB100 billion worth of medical products a year, while manufacturers in automotive parts, plastics, textiles and rubber may have capabilities that could be adapted to the sector.
- Today, Yang estimated that manufacturing costs in Thailand are roughly 15-20% higher than in China, while investors are increasingly concerned about shortages of skilled labour, particularly in the Eastern Economic Corridor.
- Thailand’s second-quarter GDP growth of 1.9% was likely to mark the year’s low point, he noted, exceeding an earlier expectation of 1.5%
- Stronger exports and investment contributed to the full-year growth forecast midpoint being raised to about 2.2% from 2.0%.
- Actual investment since the start of the year had reached about THB500 billion, with further expansion expected even if momentum slows.
Summary
Speakers at “KT Dialogue: New Horizon – Thailand Investment Play” on Thursday (August 27) argued that attracting capital alone would no longer be enough. Thailand, they noted, must turn investment into stronger local capabilities, skilled employment and technologies that can compete globally.
Nopparuj Chindasombatcharoen, an industrial policy scholar at the Thailand Development Research Institute (TDRI), described the industrial landscape as being in a genuine transition, with the internal-combustion automotive industry and other established supply chains facing pressure to adapt.