Thailand Launches Seven-Industry Growth Plan Targeting 3% GDP Rise

Deputy Prime Minister Ekniti Nitithanpraphas and leaders of the Private Sector Collaborative Board have aligned on advancing Reinvent Thailand from concept to execution, targeting annual economic growth of at least 3%, investment ratios of 30% of GDP, and a top-20 global competitiveness ranking to establish Thailand as a high-income nation by 2037. Seven private-sector industries will serve as the main drivers: agriculture and food processing, automotive, retail and commerce, smart electronics, medical and wellness, tourism, and creative economy. Supporting sectors include infrastructure, digital technology and AI, energy, and the financial system, while the government—through the Finance Ministry and Bank of Thailand—will maintain economic stability, remove regulatory obstacles, and create an investment-friendly environment.

Within three weeks, three additional deputy prime ministers will be consulted, and the seven business groups will prepare a framework identifying challenges, needs, and engagement strategies with the government before submitting the full plan to the Prime Minister within one month. The initiative will connect investment and global markets to Thai entrepreneurs, develop local industry champions, integrate small and medium enterprises into the new economy, and create domestic employment to address structural economic disparities and reduce K-shaped recovery risks.

The government and the Private Sector Collaborative Board will link the seven industry working groups with the public-private economic committee to systematize private-sector proposals, assign responsible agencies, set timelines, and enable continuous monitoring. The execution strategy unfolds in three phases: Stabilize Today addresses urgent problems and removes business barriers; Transition Now supports entrepreneurs adopting new technology, business models, and standards; and Invest for Tomorrow establishes foundations for future industries, skills, and long-term infrastructure.

Paiyong Srivanich, chairman of the Private Sector Collaborative Board and Thai Bankers Association, stated that Reinvent Thailand must become a concrete mechanism connecting with government, not merely an advisory forum, with the private sector providing data, personnel, and networks to drive proposals into action and build a new economic engine. Arthit Aramwattananont, chairman of the Thai Chamber of Commerce, emphasized that the initiative must open pathways for Thai entrepreneurs, especially small and medium enterprises and regional businesses, to participate in new value chains, reduce costs, increase productivity, and expand markets by integrating with ASEAN supply chains and markets serving over 600 million people.