An engineer assembles auto parts at a manufacturing plant in Thailand.
The government is being urged to pay more serious attention to speeding up the production sector’s restructuring to create new jobs and boost economic growth.
Danucha Pichayanan, secretary-general of the National Economic and Social Development Council (NESDC), said the government desperately needs to transform the production sector to more high-technology industry that can draw greater investment and revitalise Thailand’s economic growth over the long term.
“Thailand’s annual investment-to-GDP ratio should stay at around 30%, which is sufficient to create new jobs and improve economic growth,” said Mr Danucha.
Back in 1995, Thailand’s annual investment averaged around 41% of GDP, 32% of which belonged to the private sector and 9% to…
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