6 June 2024

This Thai government’s top priority is to re-energise Thailand’s competitiveness and position as a leading investment destination, an engine of growth in the region and as a place where people can equally enjoy a quality life, said Thai PM Srettha Thavisin.

He was delivering remarks at a gala dinner, hosted in his honour by the US-ASEAN Business Council (USABC) and the US Chamber of Commerce (USCC) in New York.

Government spokesperson Chai Wacharonke quoted Srettha as telling the leading US businessmen that his government will shift the economy into high gear through the implementation of a progressive and impactful stimulus package.

“The package will include the Bt10,000 (US$285) “digital wallet” scheme, injecting around 16 billion dollars into the Thai economy through a high-security blockchain system,” he said.

Photo : Thai Government House

Bilateral trade has rebounded robustly, regardless of the global pandemic, exceeding 65 billion dollars last year, with the U.S. reclaiming its position as Thailand’s second largest trading partner for the first time in 15 years.

Like the US, the Thai government is fully committed to pursuing a sustainable and inclusive path for growth, through revving up the green economy and energy transition, while doubling efforts to achieve carbon neutrality by 2050 and net-zero emissions by 2065.

The plan includes rebuilding an “innovative, Inclusive and Integrated Thailand” (3Is) for future generations and ensuring that the nation can innovate with knowledge and creativity, businesses and people from all walks of life can enjoy inclusivity in an open society and good governance.

Moreover, to open up new market opportunities for businesses and to reinforce Thailand’s position as an integral partner for US global supply chains, FTA negotiations will be sped up with key economies and there will be active participation in innovative integration at bilateral and multilateral fora.

Photo : Thai Government House

The government is fully committed to creating a more conducive investment climate, for ease of doing business, Srettha said, and will put more effort into advancing a comprehensive regulatory guillotine and digitization of government services.

There will also be a more streamlined process and attractive packages for foreign investments under Thailand’s Board of Investment (BOI) and the Eastern Economic Corridor (EEC), he promised.

“Now is the time for you to do more business in Thailand”, Srettha concluded.

Photo : Thai Government House