Economic reformation in action: Thailand open for foreign investments amid polycrisis

Prime Minister Srettha Thavisin declared Thailand’s openness to foreign investments and readiness to collaborate with the private sector for an economic reformation to create an inclusive and sustainable future. Speaking on Wednesday at the Foreign Industrial Club Gala Dinner, the Thai PM’s speech, titled Reformation of Thai Economy Amidst Polycrisis, was summarised by government spokesperson Chai Wacharonke.

The 61 year old Thai PM, who also doubles up as the government’s Finance Minister, highlighted the meagre 1.8% average annual growth in Thailand’s Gross Domestic Product (GDP) over the past decade. Along with this, household debt saw an increase from 76% in 2012 to 91.6% this year, a situation compounded by the Covid-19 pandemic.

Additionally, the country’s exports faced a decline throughout the last three quarters due to high inflation, increased…