Thailand's position in the global economy

摘要

While foreign investment into Thailand is unlikely to register strong pre-coronavirus (covid-19) growth in 2023, the increasing shift towards renewable energy and the rise in global food insecurity will reinforce the country's status as a regional hub for electric vehicle manufacturing, digital industries and the agriculture. The military is expected to maintain its tight control on the government, ensuring continuity in foreign-investment policy and infrastructure, despite the absence of fundamental political reform. The ambitious Thailand 4.0 industrial policy remains the economic blueprint for the country's transformation into a sophisticated manufacturing and technology hub. This ensures the continuation of generous tax breaks and nontax incentives for targeted industries and special economic zones. However, Thailand's aspiration to become a high-technology economy faces obstacles-most notably the lack of skilled labour and fierce competition from better-positioned regional peers. Given Thailand's reliance on international trade and tourism inflows, the government continues to implement a favourable foreign-trade regime and liberal currency policies.