"Akniti" unveiled the 14th economic development plan, calling it the country's compass with clear targets to transform industrial structures, distribute income to grassroots economies and SMEs, and lay the groundwork for Thailand's sustainable growth on the global stage. Tags: [National Development Plan, Economic Growth, Industrial Transformation, Income Distribution, SMEs, Sustainable Development, Thailand]
On 30 Sep 2026 GMT+7, Mr. Akniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, spoke at a special forum titled “Thailand in a Changed World” during the public hearing for drafting the 14th National Economic and Social Development Plan, organized by the Office of the National Economic and Social Development Council (NESDC). He said the 14th Plan would be the country's key compass, using the Public-Private Joint Committee on Economic Solutions (PPJC) as the main platform to work closely with the private sector to restructure industries, distribute income to grassroots and SMEs, and lead Thailand back to sustainable growth on the global stage.Tags: [Akniti Nitithanprapas, NESDC, National Development Plan, Public-Private Partnership, Economic Reform, Thailand]
Currently, development planning cannot be an ordinary plan; it must clearly set annual and five-year targets. Thailand cannot pursue all projects simultaneously due to accumulated old problems and many new challenges. Thus, the key is to prioritize high-impact projects that can truly be game changers instead of spreading budgets and manpower thinly over hundreds of minor projects.Tags: [Development Planning, Project Prioritization, Economic Challenges, Thailand]
Success factors include clearly separating short-term results within one year and medium-term goals over five years. It is also crucial to break down the siloed work structures in many government agencies, such as water management which has been fragmented for over 10 years. Establishing a systematically connected working structure is necessary.Tags: [Governance, Interagency Coordination, Water Management, Government Reform, Thailand]
Thailand currently faces four major crisis signals: economic crisis, environmental and natural disaster crisis, societal crisis from demographic structure, and political crisis. Therefore, the 14th National Economic and Social Development Plan must focus on four main economic pillars: economic growth, economic stability, income distribution, and environmental care. Historically, Thai economic growth has slowed—from an average 7% per year before the 1997 Asian Financial Crisis, to about 4% between 1997–2007, then 3%, and currently below 3%.Tags: [Economic Crisis, Environmental Crisis, Demographic Crisis, Political Crisis, Economic Growth, Thailand]
Additionally, economic growth is unevenly distributed. Of the nearly 20 trillion baht GDP, the richest top 20% earn about 50% of the national income, while the poorest 20% share less than 5%, reflecting severe social inequality.Tags: [Income Inequality, GDP Distribution, Social Inequality, Thailand]
"The main reasons for Thailand’s low economic growth are structural problems, aging machinery, and an aging workforce," the Deputy Prime Minister and Minister of Finance said. "Thailand has suffered from long-term underinvestment, leading to deteriorated factories and machines, combined with a fully aging society where over 20% of the population is over 60 years old—one in five people—resulting in a reduced labor force and lower incomes."Tags: [Economic Structure, Aging Population, Investment, Labor Force, Thailand]
However, the government has accelerated fiscal discipline and reforms, leading all three credit rating agencies to revise their outlooks to stable. This has prevented a fiscal crisis and boosted confidence in capital markets, helping the Thai stock index recover. The government also focuses on transforming capital into skills by integrating AI to increase productivity—such as the Thai Chua Thai Plus project and embedding AI into the 'Tung Ngern' application through 'AI Noksib' to assist small traders in conducting real online sales.Tags: [Fiscal Discipline, Credit Rating, Stock Market, AI Integration, Small Businesses, Thailand]
At the same time, the government aims to upgrade existing industries to new S-Curves by transforming traditional agriculture into smart agriculture and accelerating food processing to address the global food crisis—especially the pet food industry, which is growing 20% annually due to aging society trends favoring pet ownership. Thailand is currently the world’s first or second largest exporter in this sector. The government also pushes for energy transition towards clean energy to reduce import dependency and mitigate global warming impacts.Tags: [Industry Upgrading, Smart Agriculture, Pet Food Industry, Energy Transition, Environmental Policy, Thailand]