The Thai government is setting ambitious goals for economic growth as it aims for a GDP increase amid rising global competition. On March 2, 2025, Mr. Jirayu Hongthrapipat, the Governor of Kamphaeng Phet Province, detailed the government’s initiatives during the "One Tambon, One Product with the Governor" program, where he emphasized the necessity of boosting local products across Thailand.
According to Hongthrapipat, the Thai economy is projected to grow at 3.2% over the next four years, with GDP for 2024 expected to reach 2.5%, which is up by 0.5% from 2023. Though these numbers reflect progress, the governor pointed out Thailand’s relative lag when compared to other ASEAN nations: "The government recognizes the immediate need for investment particularly within new industrial sectors. Thailand requires more skilled workers for us to remain competitive," he stated.
Highlighting the government’s commitment to fostering investments, Hongthrapipat noted the potential growth of the semiconductor industry, which he labeled as pivotal for future industrial development. "We must cultivate skills related to new industries like semiconductors and electric vehicles to attract substantial investment," he continued.
The governor has also outlined plans to support Small and Medium Enterprises (SMEs), which account for 75% of the economy. He encouraged commercial banks to increase lending so local households can fund their ventures, explaining, "If we can support investment at the grassroots level, we will see corresponding improvements in GDP."
International investments are also on the rise, with the governor boasting about over 1 trillion baht of foreign investment predicted for 2024—the highest level seen within the last decade. "We anticipate companies like Google, TikTok, and NVIDIA will significantly contribute to this influx," he confirmed.
Expanding on gestures to bolster local communities, the government is also encouraging the use of traditional Thai cuisine as part of its economic strategy. By promoting the Thai SELECT program, which awards star ratings to Thai restaurants worldwide using locally sourced ingredients, the initiative aims to increase recognition of Thai food as pivotal to cultural diplomacy and economic growth. This strategy has been referred to as using 'Gastrodiplomacy' to bridge relationships with other nations.
On the agricultural front, the governor stated, "Around 10 million Thais are involved directly with agriculture, which utilizes 47% of our land. Yet, astonishingly, the sector contributes only 9% to GDP.” He affirmed the commitment to research and development (R&D) initiatives aimed at improving crop yield and quality as Thailand vies stronger against competing global agricultural markets. "Investment in agricultural research is fundamental," he stressed.
Improving infrastructure as part of this economic revamp is another focus of the government, which includes developing high-speed railways and bridges to ease transportation and potentially lower costs for exports. By enhancing logistics and infrastructure capabilities, the Thai government hopes to significantly bolster the efficiency of agricultural exports.
Ms. Arada Fuengtong, Director-General of the Department of Foreign Trade, added to the optimism by disclosing export statistics under the Free Trade Agreement (FTA) framework for 2024, showing total exports valued at 83.29 billion US dollars. "This was achieved with 83.81% utilization of trade preferences, marking a 2.05% rise since the previous year," she reported, highlighting the efficacy of Thailand’s trade agreements.
Among the FT agreements, exports to ASEAN nations dominated with approximately 31.4 billion US dollars, alongside significant values from trade agreements with China, Japan, and Australia. The government’s plans for additional FT agreements indicate continuing efforts toward strengthening trade partnerships and enhancing market access for Thai businesses.
"The upcoming FT agreements with Sri Lanka, the European Free Trade Association (EFTA), and Bhutan are set to expand our export horizons significantly," Ms. Fuengtong explained. "These agreements serve to minimize tariffs and increase trade volume, allowing local businesses to thrive amid rising global competition." The Thai government is bolstered by commitments to educate its populace on the necessary skills required for increasing their economical viability and adaptability.
Reflecting on the collective steps of both state and local governance, Hongthrapipat concluded, "None of these ambitions can flourish without the participation of every sector and community across Thailand. The ultimate goal is to see our GDP rise not just as figures on paper, but as meaningful improvements to the livelihoods of our citizens." He encouraged everyone to remain engaged, stating the government would continue fostering opportunities for dialogue and feedback to embed community perspectives firmly within district-level policies.
The message of hope permeated through the Governor’s address, with his encouragement for the public to maintain confidence during challenging economic transitions. He expressed, "This year must be one of opportunity, and we must work collaboratively to achieve progress together."