I had the chance to speak with Dr. Tonsan Santithan Sathienthai after he was invited to a Ministry of Finance event alongside Deputy Prime Minister and Finance Minister Dr. Akniti Nitithanprapas and Permanent Secretary Lornorn Saengsanit. He is working on multiple fronts assigned by the government, especially efforts to save the Thai economy amid global volatility without clear rules, from which Thailand cannot escape various forms of crisis and instability.
Dr. Tonsan was tasked with supporting investment promotion, addressing regulatory obstacles to investment, and overseeing key projects such as the Land Bridge mega-project, which the government is determined to use to transform Thailand into a new transportation hub in the region.
"I believe these two initiatives are Thailand’s last chance that must be seized. If we let them pass, we may never have such opportunities again, especially investment in the Land Bridge project. The question is how to start and what to prioritize to ensure feasibility and acceptance."
Dr. Tonsan’s views seem aligned with those of Dr. Piti Srisangnam from Chulalongkorn University's Faculty of Economics, who notes that the world west of Thailand—including India, the Middle East, and Africa—is growing and shifting economic centers significantly.
Thus, Thailand should ask itself anew: How can we develop the South into a new form of economic center?
: The key concept of the "Land Bridge" may not be merely a "transit route" in the original sense, but rather a development of the area into a comprehensive economic system encompassing logistics, industry, agricultural product processing, food, and East-West trade.
In the future, China will also seek new connecting routes amid global uncertainty in food security, especially due to the war in Ukraine and Russia. If Thailand can build a "Food Hub" or a center for processing and distributing agricultural products in the South, it could become a strategically important opportunity for the country.
The crucial point is to shift the mindset from "being a transit route for others" to "creating added value for Thailand." The design must foster industries, economic clusters, and investments that truly benefit Thailand, rather than simply allowing other countries to use Thai territory as a transport corridor.
Moreover, success as a hub depends not only on infrastructure but also on the country’s "software," such as customs efficiency, management systems, and trade facilitation capabilities—all areas where Thailand still needs significant development.
Dr. Tonsan reiterated that the key question may not be whether to build the Land Bridge but how to develop the South as Thailand’s new economic center to maximize benefits for the country.
However, the problem with many large projects in Thailand lies not only in economic feasibility but also in unclear strategies and political interests.
Over more than 30 years, the idea of connecting the two seas has shifted locations multiple times—from Satun, Krabi, Surat Thani to Ranong-Chumphon—leading many to question whether these site selections were truly strategic or influenced by land interests and business groups. : There is ambiguity whether strategic reasons or vested interests in land and capital groups were involved.
Past experience in Thailand has led many to distrust such projects because infrastructure developments often spark land speculation rumors beforehand, so sometimes route decisions are not based solely on engineering or economic reasons.
What Thailand truly lacks is a "clear long-term strategy" defining its ultimate position in the new global landscape.
Currently, foreign investors are returning to Thailand, especially in future industries like AI, data centers, cloud computing, semiconductors, robotics, electric vehicles, and clean energy technologies. This indicates Thailand remains one of the region’s attractive investment destinations.
An increasingly marketable strength is the green transition towards a green economy. Many investors are interested in whether Thailand can provide enough clean energy, as new industries like data centers and AI require large electricity supplies, and global firms prefer investing in countries with green energy support.
However, the key question is not just how much investment can be attracted, but how to ensure Thailand gains long-term benefits.
Historically, Thailand has measured success by the amount of investment applications promoted by the Board of Investment (BOI). The new challenge is to ensure these investments help build local supply chains, develop Thai manufacturers, transfer technology, and equip Thai workers with skills for new industries.
Another important idea is for foreign companies investing in Thailand to collaborate with Thai universities in designing curricula and developing workforce skills that meet real industrial needs, including creating systems for Thai engineers and workers to work alongside global experts to facilitate knowledge transfer.
From this perspective, Thailand is undergoing a crucial transition—from merely attracting investment to selectively choosing quality investments that truly add long-term value to the country.
Even regarding data centers, not all are welcomed because some consume vast electricity without adding significant value locally, whereas global cloud service providers bring entire systems, software, personnel, and technology ecosystems that benefit Thailand’s economy more.
Dr. Tonsan acknowledges the necessity of large-scale investments and emphasizes again that this is Thailand’s last chance to design its future through new investments that genuinely elevate the national economy.
Not just as a production base or global transit point.