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Thailand’s vision to become an Economic hub

With a number of campaigns and initiatives to help him achieve this, Thailand’s Prime Minister is dedicated to moving the nation ahead as a regional economic centre. Additionally, the government is working to improve healthcare services and practice sound financial management.

An Economic Hub for the Region: Thailand Srettha Thavisin, the Prime Minister and Minister of Finance, has stated that despite global obstacles, he is committed to advancing Thailand as a regional economic center. In his remarks at the Bangkok Post Forum 2023, the prime minister described how he hoped to steer the nation away from challenging times and into new challenges in order to make it a regional economic powerhouse. His administration’s goal is to close the income gap by 2027, thus it has started a number of campaigns to that end, including ones that promote employment, provide financial help, and offer assistance to vulnerable groups. Investments and a digital wallet campaign The inauguration of the Digital Wallet campaign by Srettha’s administration, which grants Thai individuals a 10,000 baht digital stipend, highlights one of the government’s major campaigns.

With the aid of blockchain technology, this project aims to provide a strong basis for digital finance. Additionally, the government intends to actively encourage and facilitate foreign investment, particularly in high-skilled and high-tech businesses. Due to these campaigns’ substantial financial demands, questions have been raised concerning the government’s financial restraint. Fiscal restraint, which has a significant impact on foreign investors’ confidence in the nation, is a top goal, the prime minister reassured. The Prime Minister focused on healthcare issues rather than just economic ones. Since 2002, Thailand has provided free medical treatment to all citizens, and the government intends to continue funding improvements to the country’s healthcare system.

The prime minister is sure that Thailand’s economy will keep expanding strongly because of Thailand’s sizeable reserves and favorable credit rating from Moody’s. He thinks that Thailand’s rich resource base and highly skilled labor force will be key factors in the development of the nation overall. To safeguard Thailand’s bright future, the government is adamant about taking all required steps.

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SOURCE: https://www.thailand-business-news.com

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