Finance Minister Sets Growth and Competitiveness Targets
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas has set out a strategic roadmap to propel Thailand into high-income status within 12 to 15 years, pivoting the economy away from legacy manufacturing toward high-tech growth industries. Speaking at the Fiscal Policy Office's Annual Academic Symposium 2026 on Tuesday, Ekniti said short-term benchmarks under the current administration's four-year term will focus on raising potential GDP growth above 3%, up from the current range of 2.8% to 2.9%.
To support that goal, the Ministry of Finance aims to lift total public and private investment to 30% of GDP, up from 23%, with targeted funding for modern infrastructure and workforce development. The strategy also seeks to raise Thailand's global competitiveness ranking from 26th into the world's top 20, as assessed by the International Institute for Management Development and the World Economic Forum. "We must have a dream," Ekniti said. "If we do not set a concrete target and simply claim that the Thai economy will grow 'sustainably' or 'qualitatively', the picture remains floating and intangible."
Government Shifts Focus to AI, Semiconductors and Clean Energy
Ekniti said Thailand's economy has relied heavily on legacy growth drivers, including traditional automotive assembly and petrochemical industries established after the 1985 Plaza Accord, as well as development under the Eastern Economic Corridor. To replace these ageing models, the government is shifting investment toward artificial intelligence, data infrastructure, semiconductor production, electric vehicles and industrial robotics, with foreign investment incentives under the Board of Investment now requiring local technology transfers and domestic supply chain sourcing.
The Finance Ministry also introduced a five-point fiscal framework built around targeted public spending, a clean energy transition, human capital development through reskilling programmes, digitised tax administration, and mobilising private capital through public-private partnerships. "The public and private sectors must act in tandem," Ekniti said. "Failing to take proactive measures today guarantees economic stagnation."
