Deputy PM Ekniti Promotes Thailand as Trusted Investment Connector
Deputy Prime Minister Ekniti Nitithanpraphas told the IMF and World Bank meetings that Thailand can act as a 'Trusted Connector' to attract investment amid global fragmentation. He urged diversification of energy imports, noted rising Thai bond yields, and highlighted opportunities to link ASEAN resources with demand in Singapore and beyond. The government plans to streamline investment approvals and upgrade workforce skills to realize these goals.
Ekniti noted that Thailand relies on the Middle East for about half of its energy imports and must seek alternative sources in West Africa and Latin America. He pointed out that Thailand's 10-year government bond yields have risen roughly 60 basis points over the past seven to eight months, compared with a 120-basis-point increase in the United States, reflecting the country's macroeconomic stability and fiscal discipline. On the investment front, applications for foreign direct investment promotion in the first half of 2026 rose 47%, but the key challenge is turning those approvals into actual capital by cutting unnecessary red tape. He proposed that Thailand serve as a "Trusted Connector" linking major economies with smaller ones, using ASEAN's diversity as a strength—for example, connecting Laos' hydropower potential with Singapore's energy demand, with Thailand and Malaysia acting as bridges. He also highlighted opportunities to expand intra‑ASEAN trade, which currently accounts for about 22% of regional trade versus around 60% in Europe, and to integrate digital infrastructure to support the digital economy and AI. Ekniti stressed that global economic linkage will be sustainable only if trust is built domestically, ensuring Thai businesses and workers benefit from foreign capital. He noted that Thai exports in AI‑related industries grew 40% in the first half of the year, but this must be leveraged to bring Thai firms into global supply chains and upgrade workforce skills. To that end, the government is advancing the Skill Bridge program to match investor labor needs with Thai universities and attaching technology transfer and skill‑development conditions to new investment incentives.
