The People's Party launches a new foundational strategy to revive Thailand's industry, making it modern, globally relevant, and free from monopolies and domination by a few.
On 19 Jan 2026 GMT+7, Mr. Weerayut Kanchuchat, the People's Party's economic deputy prime minister candidate, unveiled a detailed roadmap addressing Thailand's competitiveness crisis, which fell five ranks last year. He stated that Thailand is trapped in a reliance on foreign technology without developing its own, risking becoming a "legendary tiger" that never awakens unless reforms start within the next five years.
Mr. Weerayut added that the old problem was setting too many target industries (S-Curve), causing a lack of focus. The new principle requires the country to boldly select the highest-potential industries as flagships, such as semiconductors or space. Other industries will still receive support through legal and infrastructure facilitation—not neglect, but financial prioritization.
Furthermore, the focus must be on using digital systems to reform bureaucracy, cutting hidden expenses or under-the-table costs, and reducing redundant permit procedures so SMEs and startups can launch businesses faster. Additionally, infrastructure must be upgraded for seamless connectivity to lower export costs, shifting from “Made in Thailand” to “Made with Thailand.”
Mr. Weerayut also said Thailand should not try to do everything from start to finish but identify areas of expertise where the country is indispensable in the global supply chain to build geopolitical bargaining power. He advocated creating a high-tech ecosystem instead of wasting subsidies and urged government investment in highly skilled labor and internationally standard research labs so Thai companies can grow independently without perpetual subsidies. Importantly, competition must be transparent to prevent becoming a source of income for “sleeping tigers” or monopolistic capital groups. Products must meet global standards and be ready for immediate export. Otherwise, becoming the fifth tiger might remain just a folk tale if dependence on foreign technology continues without strategic domestic investment.