Connect with us

Economy

PM Prayut announces a 5-point plan for the future economy

Neill Fronde

Published

 on 

PHOTO: PM Prayut proposed a 5-step plan for the future economy. (via Goodread Bio/Flickr)

In an online meeting hosted by the National Economic and Social Development Council, Prime Minister Prayut Chan-o-cha announced his intention to revise Thailand’s economic and production outlook and methods. The plan looks towards future trends and the increasingly ubiquitous digital economy and aims to get Thailand in line for growing the economy now and in new sectors.

The goals would be part of the next national economic and social development plan, the 13th plan set to launch from 2023 to 2027. The current 12th plan was enacted for 2017 to 2022 but the secretary-general of the NESDC warns it will most likely miss all its targets due to the widespread negative effects of the Covid-19 pandemic that has flattened much of the economy, especially the tourism sector that accounts for about one-fifth of Thailand’s economy.

PM Prayut proposed a 5-item strategy to address growing and enhancing the economy:

  1. Thailand would first need a complete overhaul of how goods are produced in the country. Emphasis is needed on research and development. The goal would be to fall in line with the needs of the digital economy.
  2. To keep up with demand in the new digital world, human resources would also need to be developed and enhanced.
  3. The revised plan for the economy from 2023 will focus on fairness to all people and work to provide equal opportunity to the people of Thailand.
  4. Future economic growth should also be carried out with the environment in mind. Environmental conservation should be at the forefront of development to not contribute to global climate change, and progress should be made with sustainability incorporated. (Thailand has announced intentions of becoming a Southeast Asian hub for electric vehicles, among other green initiatives.)
  5. The proposed plan stresses the need for Thailand to be prepared for futures issues that may arise and ready to meet any unforeseen global challenges that may arise in the coming years.

SOURCE: National News Bureau of Thailand

For more information on Business Insurance, CLICK HERE

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forum
🔔 Subscribe to our daily newsletter
📺 Subscribe / Join for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Neill is a journalist from the United States with 10 years broadcasting experience and national news and magazine publications. He graduated with a degree in journalism and communications from the University of California and has been living in Thailand since 2014.

Follow Thaiger by email:

Drugs4 hours ago

Record drug bust in Laos follows pandemic’s methamphetamine boom

World5 hours ago

Alec Baldwin could face criminal charges for shooting on set

Thailand6 hours ago

Thailand News Today | No more Lisa for new years, Abduction linked to Reused gloves | Oct. 28

Sponsored2 days ago

Top 5 dental clinics by Dental Corporations PLC in Thailand

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Transport6 hours ago

Bangkok public transport back to normal capacity on Monday

Thailand6 hours ago

Thailand’s Industry Ministry is backing hemp as a new cash crop

Economy6 hours ago

Reform urged for foreigners to invest or buy condos in Thailand

image
Join the conversation on the Thaiger Talk forums today!
Drugs7 hours ago

55 million meth pills seized in Laos in biggest SE Asian bust ever

Coronavirus (Covid-19)7 hours ago

Thursday Covid Update: 9,658 new cases; provincial totals

Phuket8 hours ago

BlackPink’s Lisa says “no” to Phuket New Year countdown event

Bangkok8 hours ago

Khao San Road expects very slow recovery, even after reopening

Thailand9 hours ago

Truckers and tour bus drivers plan strike over diesel prices

Malaysia9 hours ago

World’s first unisex condom invented by Malaysian gynaecologist

Thailand9 hours ago

Floating stage, 2nd hand medical gloves, Thai superstar Lisa, Crack ups | Thaiger Bites | Ep. 48

Property9 hours ago

Covid-19 has accelerated Thailand’s property market disruption by 5 to 10 years

Thailand9 hours ago

PM Prayut Chan-o-cha to outline Thailand’s path to net zero at UN Climate Change Conference

Thailand1 month ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand8 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism8 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket8 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism8 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand8 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism8 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand9 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand9 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand9 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand10 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand10 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand10 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand10 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand10 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending