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PM Prayut Announces Future Economy Plans

PM Prayut Announces Future Economy Plans

An online meeting of the National Economic and Social Development Council was held in Thailand. Addressing the event, Prime Minister Prayut Chan-o-cha announced plans to revise Thailand’s economic and production approaches and methods. Its aim is to prepare Thailand to grow the economy in more new areas now.

The 13th plan is scheduled to launch from 2023 to 2027. The current 12th plan was implemented for 2017 to 2022, but the Secretary General of NESDC has warned that it will most likely miss all its targets due to the widespread negative effects of the Covid-19 pandemic, which hit the economy heavily especially the tourism sector which accounts for about a fifth of Thailand’s economy.

PM proposes on 5 issues to bring the economy back on track

Thailand will have to completely rework how goods are produced in the first country. There is a need to focus on research and development.
The goal will be to be in line with the needs of the digital economy.
To meet the demand in the new digital world, human resources will also need to be developed and increased.
The revised plan for the economy from 2023 will focus on fairness for all people and work to provide equal opportunities to the people of Thailand.

Environmental protection must be at the forefront of development in order not to contribute to global climate change, and progress must be made by including sustainability. The proposed plan emphasizes the need for Thailand to be prepared for future issues and to face any unforeseen global challenges that may arise in the years to come.

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