BANGKOK, Thailand – Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas wants the country in the high-income bracket within 12 to 15 years. He says potential economic growth must climb above 3 percent as Thailand shifts from traditional industries to high-tech.
Under Ekniti’s roadmap, gross domestic product growth should hit more than 3 percent during the government’s four-year term. Right now it sits at 2.8 to 2.9 percent. He laid out the targets on Tuesday at the Fiscal Policy Office 2026 annual symposium.
Government sets high-income goal
Ekniti said concrete targets are needed so the state, businesses and other sectors can move forward together. A vague promise to grow the economy “sustainably” or “qualitatively” remains unclear without clear guidelines.
Without clear guidelines, a mere promise to grow the economy sustainably or qualitatively remains vague.
said Ekniti Nitithanprapas, deputy prime minister and finance minister.
More investment and a top-20 ranking
Total public and private investment must rise from 23 percent to 30 percent of GDP. The money will go into modern infrastructure and worker training.
Thailand also needs to boost international competitiveness. It currently ranks 26th. Ekniti wants the country in the top 20 according to the International Institute for Management Development and the World Economic Forum.
Traditional industries lose ground
Geopolitical fragmentation positions Thailand as an attractive, neutral trade and investment hub, according to the finance minister.
But the domestic economy still leans heavily on old capital investments. Those include traditional car assembly and petrochemical plants built after the 1985 Plaza Accord, plus developments in the Eastern Economic Corridor.
Focus on AI, chips and EVs
The government wants to expand industries with higher value-added content. Targets include artificial intelligence, optical transceivers and very large data centres.
Other priorities are semiconductor production, electric vehicles and industrial robots. Under new Board of Investment rules, foreign investors get incentives only if they transfer technology to Thailand and source goods from local supply chains.
Five guidelines for fiscal policy
The finance ministry will restructure public spending and replace blanket cash handouts with targeted skill-building programmes. Faster adoption of clean energy, including direct power purchase agreements, will help counter external shocks.
Other measures include modern retraining via the Skill Bridge platform, new infrastructure, a digital tax system and more digital budget allocation. Public-private partnerships and special infrastructure funds should mobilise private capital, ease pressure on the state budget and stay within public debt limits.
State and private sector must act together
Ekniti called for coordinated action by the public and private sectors. Those who do not prepare now risk economic stagnation, he said.
That should launch Thailand’s shift to a technology-driven economy.