Thailand's economic future and leadership strategies were prominently featured at the recent Matichon Leadership Forum held on February 19, 2025, at the Queen Sirikit National Convention Center. The forum brought together industry experts and key government officials to discuss pressing issues facing the country and to present strategies aimed at revitalizing the economy.
The event showcased insights from notable speakers including Donnacha Pichayanan, Secretary General of the National Economic and Social Development Council (NESDC), and Chula Sukmanop, Secretary General of the Eastern Economic Corridor (EEC). Pichayanan acknowledged the challenges, stating, "The Thai economy may not grow much due to limitations but could improve within 1-2 years if key issues are addressed." This candid overview set the stage for discussions on enhancing exports and adjusting policies to attract foreign investments.
The forum was timely, as it coincides with NESDC’s projections of GDP growth ranging from 2.3% to 3.3% for this year. Throughout the discussions, the need to combat household debt and promote stable economic measures emerged frequently as pivotal factors for fostering growth. Without these elements being prioritized, long-term growth could remain elusive.
Highlighting the shift toward technology and new industries, Pichayanan emphasized the importance of developing competitive products for global markets. He remarked, "Our focus should be on preparing for the impacts of trading policy changes and promoting potential export products.” This sentiment underlined the necessity of innovation and adaptation as economic cornerstones.
Another central topic of discussion was the country’s reliance on tourism for economic recovery. Niti Sapair, from the Tourism Authority of Thailand, shared ambitious targets for the industry: "Aiming for 40 million tourists and 3.4 trillion baht revenue reflects our confidence and preparation for recovery post-COVID." This ambitious target indicates the government's commitment to revitalizing one of Thailand’s most important economic sectors.
Tourism, which historically contributed significantly to the GDP, is expected to rebound as international travel resumes. Reports indicate potential strategies for targeting key markets, including Europe and the Middle East, highlighting the government's adaptability and response to shifting global dynamics.
With business confidence being another focal point of the discussions, Chula Sukmanop stressed the importance of creating an environment conducive to foreign investment, insisting, "We must work to rebuild confidence among foreign investors to attract direct investment, especially after the pandemic." The EEC remains at the forefront of these efforts, both to retain existing investors and attract new ones through improved infrastructure and incentives.
The comprehensive dialogue provided by the Matichon Leadership Forum serves as both a roadmap and catalyst for Thailand's economic strategy moving forward. The proposals set forth by various leaders could illuminate paths toward sustainability, especially as policymakers grapple with uncertainties such as fluctuated commodities and international trade pressures.
Attendees of the forum expressed optimism; stakeholders are increasingly aware of the external and internal pressures influencing economic performance and are committed to constructive engagements beyond the pandemic's challenges. Achieving the ambitious goals set forth during the forum, particularly those related to tourism and foreign investment, remains contingent upon effective, well-coordinated policy actions.
Summarizing the event, Donnacha Pichayanan noted, "If we effectively address these issues, Thailand's economy has the potential to overcome current obstacles and set the stage for sustained growth." This optimistic outlook reflects not only the expert views expressed at the forum but also the resolve of Thailand's leadership to navigate through adversity toward thriving economic prosperity.