Suphajee assures ASEAN businesses short-term government will not affect long-term economic plans
Commerce Minister Suphajee Suthumpun told ASEAN business leaders Thailand’s short-term government will not hinder its long-term plans to be a logistics and digital hub.
- Commerce Minister Suphajee Suthumpun assured ASEAN business leaders that the current Thai government's limited tenure will not disrupt the nation's long-term economic strategies.
- The government is implementing short-term stimulus measures, such as co-payment schemes and faster investment approvals, to boost immediate growth and investor confidence.
- Thailand's long-term economic plans include becoming the region's logistics and digital hub, a food security hub, and developing seven future industries like AI and clean energy.
- The country's chairmanship of the Digital Economy Framework Agreement (DEFA) is cited as a key initiative supporting its ambition to become a regional digital hub.
Commerce Minister Suphajee Suthumpun on Monday reassured ASEAN business leaders that despite the Thai government’s limited tenure, its policies will not hinder Thailand’s long-term goals to become the region’s logistics and digital hub.
Suphajee represented Prime Minister Anutin Charnvirakul to deliver Thailand’s economic perspective on the sidelines of the ASEAN Summit in Kuala Lumpur. She addressed the Leader Fireside Chat, hosted by the ASEAN Business Advisory Council, attended by over 500 ASEAN business executives.
Short-term measures for immediate economic stimulus
Suphajee said that while the government faces several challenges, it has rolled out clear economic stimulus measures to generate tangible short-term growth, which will also strengthen long-term fundamentals and restore investor confidence.
She cited the “Let’s Go Halves Plus” co-payment scheme as a key example, noting that it would reduce the cost of living for around 13–14 million people while boosting domestic consumption.
The minister added that the government is also pursuing household debt restructuring and supporting SMEs to expand into franchising with standardised training and easier access to financing.
Another priority, she said, is the “Fast Plus Pass” initiative to cut red tape and speed up Board of Investment (BOI) approvals, enabling foreign investors to start businesses in Thailand more quickly.
Long-term vision for sustainable competitiveness
For the long term, Suphajee said Thailand would leverage its agricultural strengths to become a regional food security hub.
She added that the government would assist the private sector in adapting to Environmental, Social, and Governance (ESG) standards and adopting digital technologies to enhance competitiveness.
Suphajee also identified seven future industries that would underpin Thailand’s competitiveness:
- Digital and AI technologies
- Advanced semiconductors
- Future mobility
- Future foods
- Clean energy
- Biotechnology
- Health and wellness sciences
Building ASEAN’s logistics and digital hub
Suphajee told ASEAN businesses that Thailand aims to position itself as the region’s logistics and digital hub, capitalising on its strategic location linking China and Southeast Asia.
She said Thailand’s chairmanship of the Digital Economy Framework Agreement (DEFA) would further support this ambition.
“Although the government has limited tenure, Thailand has clear economic plans and is determined to achieve short-term economic wins while building a strong foundation for the future,” she concluded. “Thailand will re-emerge as a robust and open economic hub for the region.”
