Market Update: Thailand’s Economy Faces Worst Growth in 30 Years Amid Structural Weaknesses and Global Uncertainty – Full Analysis

Post-Election Priorities

Looking ahead to the upcoming election, the JSCCIB emphasised the need for policy continuity and structural reform regardless of which party forms the next government.

Dr Poj stressed that the new government must engage with the private sector rather than acting unilaterally.

“The private sector is the actual engine driving the Thai economy, and the government’s role should be to facilitate business rather than just regulate it,” he said.

The committee is advocating for a “Reinvent Thailand” approach focused on formalising the economy, sustainable debt resolution to boost purchasing power, reducing business obstacles to encourage investment, and strengthening supply chains.

The JSCCIB has also launched a “Zero Corruption” campaign, arguing that corruption represents a hidden cost that undermines competitiveness.

Kriengkrai cited corruption as a significant factor deterring foreign investment, with companies like Tesla identifying bribery as a major hurdle when considering Thai operations.

Strategic Opportunities

Despite the challenging outlook, the private sector sees significant opportunities in Thailand’s role as host for several major international events in 2026.

The IMF-World Bank Group Annual Meeting in October, themed “Thailand’s New Horizons: Empowering People, Building Resilience”, represents a “once-in-a-decade” opportunity to reposition the country globally, according to Payong.

“This is the primary mechanism to rebuild trust and confidence among international investors,” he said, noting the event’s scale will exceed APEC, bringing tens of thousands of delegates including heads of the world’s largest corporations.

Thailand will also host Gastech 2026, a premier conference on natural gas, LNG, hydrogen energy and climate technology, as well as the Tomorrowland music festival’s first Thai edition.

The JSCCIB plans to establish a working group to coordinate with the government on preparations for these events, viewing them as crucial platforms to promote Thailand’s re-branding and integration into global supply chains.

However, success will require swift action to address the structural weaknesses and competitive gaps that have left Thailand lagging behind its regional neighbours.