BANGKOK – Prime Minister Paetongtarn Shinawatra has pledged comprehensive economic reforms to enhance Thailand’s competitiveness, improve investor confidence, and solidify the country’s position as a top destination for foreign investment.
Speaking at the JFCCT Prime Minister Address Luncheon 2025, hosted by the Joint Foreign Chambers of Commerce in Thailand (JFCCT), she outlined her administration’s vision for faster regulatory processes, a seamless digital economy, and sustainability-driven growth. Held at the Grand Ballroom, Grand Hyatt Erawan Bangkok, the high-profile event brought together government officials, foreign investors, and key business leaders to discuss Thailand’s future as a regional economic hub.
In her address, Prime Minister Paetongtarn Shinawatra made a direct appeal to foreign businesses, reinforcing her administration’s commitment to creating a more transparent, investor-friendly environment.
“My government envisions a future where we transform traditional economic growth into sustainable growth. Thailand is not just opening its doors to investment; we are creating a business ecosystem that fosters innovation, transparency, and long-term growth. Our policies focus on simplifying investment processes, modernizing infrastructure, and ensuring a fair, competitive market that encourages both foreign and domestic investors,” she stated.
She underscored that foreign direct investment (FDI) is critical to Thailand’s future, particularly in high-value industries such as technology, sustainable manufacturing, and services. She further highlighted the need to strengthen Thailand’s competitiveness through investment in infrastructure, supply chain efficiency, and strategic regulatory improvements, ensuring the country remains a top destination for businesses seeking stability and long-term growth.
A key pillar of her speech was the collaboration between the government and private sector is essential to the country. In addition, she reaffirmed her administration’s commitment to sustainable economy and development, stressing that the government will ensure businesses must have real access to finance, opportunities to integrate into global supply chains, and practical support to adopt sustainable business practices.
“The future of Thailand depends on a holistic and cohesive sustainability strategy that balances economic growth with social and environmental responsibility. By embedding BCG economic model, climate resilience, and inclusive business policies, we can create a sustainable future for all,” she concluded.
Mrs. Vibeke Lyssand Leirvåg, Chairwoman of JFCCT, acknowledged that while 2024 presented significant challenges for both Thailand and the global economy, Thailand demonstrated resilience and outperformed economic forecasts. She highlighted a modest recovery, particularly in tourism and domestic consumption, and emphasized that exports rebounded strongly in the latter part of the year, signaling renewed economic momentum.
Foreign direct investment (FDI) also showed notable growth, particularly in key sectors supported by the Eastern Economic Corridor (EEC) and the Board of Investment (BOI). “Thailand offers compelling advantages for investors, particularly through its strategic incentives and robust infrastructure. While ease of doing business remains complex in some areas, initiatives within EEC and BOI have made Thailand an increasingly attractive destination for FDI,” Mrs. Leirvåg stated.
Looking ahead, she emphasized the importance of resilience amid global uncertainties, including geopolitical tensions, trade conflicts, and potential tariff adjustments impacting supply chains. She called for greater collaboration between large corporations and SMEs to ensure inclusive growth, urging policymakers to prioritize regulatory reforms and digital transformation.
“Thailand must remain adaptable, ensuring that SMEs are not left behind. With the right reforms and public-private sector collaboration, we can drive sustainable growth and strengthen Thailand’s position as a leading business hub,” Mrs. Leirvåg concluded.
Mr. Boonyong Yongcharoenrat, Vice President of the Thai-Chinese Chamber of Commerce (Thai CC), reaffirmed the strong economic partnership between Thailand and China, emphasizing that bilateral trade, infrastructure development, and investment collaborations are key drivers of regional economic growth.
“Thailand and China have maintained a deep-rooted economic relationship for decades, with China being Thailand’s largest trading partner for 12 consecutive years. As Chinese enterprises expand globally, Thailand is strategically positioned as a key production and logistics hub within ASEAN,” he stated.
Mr. Yongcharoenrat also highlighted the critical role of infrastructure projects such as the China-Laos Railway and Thailand’s ongoing high-speed rail developments, which will significantly enhance regional connectivity, reduce logistics costs, and facilitate smoother trade flows between Thailand, China, and ASEAN markets.
“Strategic infrastructure investment not only strengthens but also paves the way for deeper business cooperation across industries, including manufacturing, energy, and technology,” he noted.
He further emphasized that Thailand’s active participation in China’s Belt and Road Initiative (BRI), investment incentives in the Eastern Economic Corridor (EEC), and regional trade agreements such as RCEP and ACFTA will play a crucial role in expanding market access, fostering long-term trade, and attracting high-quality foreign investment.
“By deepening economic collaboration, expanding cross-border e-commerce, and supporting high-tech industries, Thailand and China can drive long-term, sustainable growth for the region,” Mr. Yongcharoenrat emphasized.
Adding to the discussion, Mr. Parson Lam, Director of the Hong Kong Economic and Trade Office in Bangkok (HKETO), reinforced the importance of Thailand’s economic ties with global financial centers like Hong Kong. “Thailand and Hong Kong have a well-established trade relationship, with bilateral trade exceeding USD 20 billion in 2024.
As an international finance and logistics hub, Hong Kong serves as a gateway for Thai businesses seeking global expansion and foreign investors looking for a foothold in ASEAN markets,” he explained. He also emphasized that Hong Kong’s low-tax environment, strong capital markets, and international trade networks make it a critical partner for Thailand’s economic ambitions.
“There is strong potential for closer supply chain integration, as shifting global trade patterns bring new opportunities for businesses in both Thailand and Hong Kong. By working together, we can strengthen regional logistics networks and enhance Thailand’s role as a strategic hub within ASEAN,” Mr. Lam noted.
He also pointed to the growing demand for sustainable finance and digital innovation, encouraging Thai enterprises to take advantage of Hong Kong’s expertise in green finance and fintech. “As we move forward, fostering bilateral investment and supporting businesses in navigating regulatory landscapes will be key to ensuring that Thai and Hong Kong enterprises continue to thrive in a rapidly evolving economic environment,” Mr. Lam concluded.
Ms. Vira-anong C. Phutrakul, Managing Director – Deputy CEO and Head of Wholesale Banking at UOB Thailand, highlighted UOB’s long-standing commitment to supporting Thailand’s economic development and investment landscape. “At UOB, we recognize Thailand’s strategic importance as a gateway to ASEAN. Through our established network in the region and capabilities in corporate banking, sustainable finance, and cross-border trade, we are dedicated to helping both Thai and foreign businesses expand seamlessly within the region,” she stated.
She emphasized the bank’s role in facilitating foreign direct investment (FDI), noting that UOB’s Foreign Direct Investment Advisory (FDIA) unit has helped over 370 companies establish operations in Thailand, contributing more than 45 billion baht in projected investment and creating over 18,000 jobs since 2020.
Beyond investment facilitation, Ms. Vira-anong highlighted UOB’s focus on digital innovation and sustainability as key enablers for business growth. “With the rise of digital transformation and ESG-driven investments, we are committed to providing customized financial solutions and tools to empower businesses in Thailand. By fostering financial resilience, promoting sustainable growth, and enhancing regional connectivity, UOB stands as a trusted partner for businesses looking to navigate Thailand’s dynamic investment environment,” she concluded.
The JFCCT Prime Minister Address Luncheon 2025 underscored Thailand’s determination to reshape its economic landscape, strengthen global trade partnerships, and drive long-term sustainable growth. With total investment applications reaching a decade-high of 1.14 trillion baht (approximately USD 32.8 billion) in 2024, and foreign investments accounting for 832 billion baht (around USD 23.9 billion), the country is poised to reinforce its status as a premier investment hub in ASEAN.
As regulatory reforms accelerate and new investment incentives take shape, Thailand’s economic outlook signals unprecedented opportunities for global investors, industry leaders, and SMEs alike. “The road ahead requires collaboration, bold decision-making, and an unwavering commitment to innovation and sustainability,” said JFCCT Chairwoman Vibeke Lyssand Leirvåg.
