Experts warn Thailand needs structural reform to reclaim competitive edge

Titled “Revive Thailand: How the Country Moves Forward”, the seminar warned the kingdom risks lagging behind the global economy, with GDP growth potentially capped at a meagre 3% over the next decade.

Santitarn Sathirathai, adviser to the Thailand Development Research Institute (TDRI), outlined four key areas for reform:

• Openness to investment: Leverage global derisking and relocation trends.
• Regulation overhaul: Make it easier for companies of all sizes to do business.
• Focus on quality investment: Target the digital and green economy.
• Human capital upgrade: Enhance both quantity and quality of the skilled workforce.

Santitarn compared Thailand to an elderly athlete who can no longer compete purely on strength.

“As a result, we must compete smarter, using the right tools, tactics, skills, and knowledge,” he said, citing AI as…