Thai Prime Minister Ms. Paetongtarn Shinawatra is set to address the nation on March 2, 2024, through her program "Opportunities for Thailand with Prime Minister Paetongtarn." The broadcast will focus on key economic updates, including the latest statistics and strategies related to Thailand's agriculture sector and overall economic growth.
Notably, the country's GDP figures for the fourth quarter of 2023 indicate a growth rate of 3.2%. This brings the total growth for the year to 2.5%, surpassing the 0.5% growth experienced in 2022. Despite these positive figures, Prime Minister Shinawatra acknowledged during her announcement, "Although the overall economy still hasn’t grown as much as we could, there’s positive momentum and it will continue to improve," emphasizing the necessity for sustained effort to tap the nation's economic potential.
During the program, Shinawatra will elaborate on her government's two main economic policies: advancing Thai agriculture and attracting foreign investments. With over 10 million farmers representing more than 47% of the country's land dedicated to agriculture, she stressed the pressing need to increase the agriculture sector's contribution to GDP, which currently sits at only 9%. "If we can revolutionize Thai agriculture, it will uplift the entire Thai economy," she remarked.
The government recognizes the challenges faced by farmers, indicating plans to pivot the industry through innovative methodologies. This includes utilizing research for practical applications, improving crop varieties, and enhancing animal husbandry practices. There’s also a vision to develop the agricultural market by leveraging Thailand's position as a global fruit exporter. Shinawatra pointed out, "We can set standards for quality fruit to increase revenue, stimulating both local and international markets."
Adding to the initiative, the Prime Minister revealed increased foreign investment interest with applications surpassing 1 trillion baht, the highest recorded figure over the last decade. This influx is primarily focused on future industries, which include semiconductor manufacturing and electric vehicle components, as well as agriculture, food processing, and renewable energy sectors. "Last year, foreign investment applications reached over 1 trillion baht, the highest in 10 years," she explained.
Shinawatra's emphasis on foreign investment aligns with her government’s broader economic strategy to promote job creation and technological advancement. By improving skills among the local workforce and encouraging innovation, the government aims to prepare for the new opportunities on the horizon. She concluded her remarks by urging stakeholders across all sectors to prepare for adjustments and advancements necessary for maximizing these upcoming chances.
Viewers can catch the complete discussion on economic health and agricultural opportunities during her program airing at 08:00-08:30 on NBT and 09:30-10:00 on MCOT HD. This broadcast promises to provide insight and clarity on how the government plans to tackle economic challenges and facilitate growth for agricultural workers and the economy as a whole.