Private Sector Calls for Government Action on Foreign Investment Revival

Speaking at the INTANIA Forum held at Chulalongkorn University's Faculty of Engineering on July 31, major private-sector executives outlined Thailand's economic path forward. Kattiya Intravisai, chief executive of Kasikornbank, noted that foreign investors, previously concerned about Thai political stability, now see positive signals from equity markets, capital flows, and direct foreign investment—particularly in electric vehicles and data centers. Investment promotion applications to the Board of Investment have surged, confirming Thailand's ability to attract capital in new industries.

However, executives warned that having EV factories and data centers is only the beginning. True economic progress requires job creation, workforce skills development, software businesses, clean energy, and innovation driven by data. Thammashakdi Sethakudi, CEO of Siam Cement Group (SCG), expressed concern about SMEs in the supply chain, which face higher financing costs and fewer opportunities to experiment than large companies. If SMEs fail, large corporations suffer because they depend on uncertain foreign suppliers. Government and big business must jointly upgrade Thai SMEs by reducing energy costs, adopting solar power, transitioning to green business, and creating carbon credits.

SCG also advocated building a strong domestic market and expanding across ASEAN to compete with excess production capacity from China, positioning Thailand as a premium manufacturing hub. On energy, Prime Minister's Adviser Atthapol Rikpibul stressed that power is critical to investor confidence and competitiveness, requiring Thailand to balance security, environmental sustainability, and affordability. Thailand has improved energy risk management by diversifying oil import sources and advancing solar, smart grids, and clean technology to meet Net Zero targets and support new industries like data centers.