Thailand’s soft power strategy to generate 4 trillion baht across 11 industries
Thailand’s soft power is poised for global promotion in 11 industries, with a potential generation of 4 trillion baht, as revealed by Commerce Minister Phumtham Wechayachai. The statement was made at a seminar aimed at empowering business operators through the application of soft power, attended by Paetongtarn Shinawatra of the ruling Pheu Thai Party and chair of the national committee on soft power development.
Phumtham cites several factors, including Covid-19 disruptions and ongoing global power conflicts, as catalysts for rapid changes in the global economy. He emphasised the need for Thailand to adapt its economic steering methods, highlighting the importance of intellectual property in enhancing trade relationships with other countries.
The government has introduced the One Family One Soft Power policy aimed at garnering greater international recognition for Thailand’s rich culture. Phumtham elaborated that the policy is aimed at creating more than 20 million jobs and generating 4 trillion baht per year through 11 industries including tourism, festivals, sports, cuisine, film, music, arts, books, gaming, design and fashion.
Brand innovation and design will be used to promote important products in the global market.
He further stated that the Department of International Trade Promotion had led a delegation of Thai business operators to Anuga this year, the world’s largest trade fair for food and beverages, held in Germany last October. The delegation achieved trade deals worth over 5.3 billion baht.
Paetongtarn endorsed the government’s policy to promote the country’s soft power as a crucial step in economic enhancement and income generation for Thais. In her words, Soft power shows the country’s ability to influence others without having to force them, reported Bangkok Post.
The new government of Thailand, led by Prime Minister Srettha Thavisin, initially introduced the OFOS policy to promote the nation’s soft power, starting by improving the skills of Thai people with free training programmes and workshops, in order to read more click HERE.
