Anutin brings business leaders to table in push to boost Thailand’s competitiveness

Prime Minister Anutin Charnvirakul will personally chair his government’s first major public-private economic forum on Friday, as ministers and senior officials prepare to hear proposals from 10 key business sectors on how to strengthen Thailand’s competitiveness.

Government spokeswoman Rachada Thanadirek said the forum, titled “Entrepreneurs Speak, Government Listens”, will be held on Friday (May 15) and will bring together the Cabinet, senior officials from all ministries and top private-sector executives. The forum is intended to give business leaders a direct channel to present concerns and policy proposals to the government.

Ten business groups invited

Rachada said the forum reflected the government’s intention to involve the private sector more systematically in setting Thailand’s economic direction.

The government will hear proposals from 10 groups: the Joint Standing Committee on Commerce, Industry and Banking; finance; agriculture and food; automotive; energy; construction and real estate; healthcare; hotels and tourism; retail and consumer goods; and technology.

“The ‘Entrepreneurs Speak, Government Listens’ event is the first of its kind under the Anutin government,” Rachada said. “Its key objective is to work with the private sector to move the country’s economy forward together, because the private sector is crucial to achieving economic targets.”

She said the Prime Minister and relevant ministers would attend in person, signalling that economic policy must be driven jointly by the state and business community. The main purpose, she added, was to listen to entrepreneurs’ concerns and identify what further support they need from the government.

Public-private mechanism revived

The forum follows an earlier meeting on May 12 between Anutin, economic and legal ministers, and executives from the Federation of Thai Industries. At that meeting, the Prime Minister heard proposals on production costs, SME access to finance, infrastructure, logistics, clean energy, business-related legal changes and labour issues.

The government has also agreed to revive the Joint Public-Private Committee mechanism as a regular platform for the Federation of Thai Industries, the Thai Chamber of Commerce and the Thai Bankers’ Association to raise problems, propose solutions and help drive economic policy.

Rachada said the government wanted to shift from being only a regulator to becoming more of a supporter and facilitator, so that the private sector can operate more effectively and help restore Thailand’s competitiveness.

Business lobby warns of weak growth

The talks come as Thailand’s leading private-sector groups have grown increasingly concerned about slow growth, rising costs and structural weaknesses.

The Joint Standing Committee on Commerce, Industry and Banking, or JSCCIB, cut its 2026 GDP growth forecast in April to 1.2–1.6%, down from 1.6–2.0%, citing the impact of the energy shock. It also raised its inflation forecast to 2.0–3.0% and projected exports to remain negative at minus 1.5% to minus 0.5%.

The JSCCIB has urged targeted relief for SMEs and vulnerable groups, tighter action against oil hoarding and opportunistic price increases, and measures to reduce transport costs so businesses can keep prices stable. It has also proposed linking data between state agencies to better identify affected groups and deliver assistance without undermining fiscal space.

‘Reinvent Thailand’ agenda in focus

Private-sector proposals are expected to centre heavily on the “Reinvent Thailand” agenda, which calls for structural reform rather than short-term stimulus alone.

Recent JSCCIB-backed proposals include strengthening supply chains, supporting Made in Thailand procurement, improving access to finance, reducing regulatory obstacles, promoting clean energy and raising the value added of Thai industries. The committee has also pushed six priority sectors: agriculture and food, automotive, smart electronics, healthcare and medical services, tourism, and retail.

The Federation of Thai Industries has separately called for Thailand to move away from a traditional contract-manufacturing model towards higher-value production based on innovation, advanced technology and automation. It has urged action under three themes: competitiveness, resilience and sustainability.

Energy reform is also likely to be a major issue. The JSCCIB has proposed making the 2026 Power Development Plan a core competitiveness strategy, including clearer electricity tariff structures for 2026–2030, fairer grid access, support for renewable energy and a joint public-private energy committee to remove bottlenecks.

BOT sees slow growth, inflation pressure

The Bank of Thailand’s official forecast as of April 29 projected GDP growth of 1.5% in 2026 and 2.0% in 2027, with headline inflation at 2.9% in 2026 before easing to 1.5% in 2027.

At its April 29 meeting, the Monetary Policy Committee voted unanimously to keep the policy rate at 1.00%, saying the rate remained appropriate to support a slowing economy amid heightened uncertainty. The central bank said the Middle East conflict had raised business costs, weakened household purchasing power and pushed inflation higher through energy prices and cost pass-through.

However, Bank of Thailand Governor Vitai Ratanakorn later said the government’s 400-billion-baht borrowing plan could lift this year’s GDP growth forecast to 2.1% from 1.5%, while inflation was expected to average around 3.1% this year before falling back within the target range next year.

Forum seen as early test of Anutin’s economic team

Friday’s forum will therefore be an early test of whether the Anutin government can convert private-sector proposals into concrete policy.

For business groups, the key question is whether the government will move quickly on cost reduction, credit access, energy restructuring, labour management, regulatory reform and public procurement. For the government, the challenge is to support growth without putting excessive pressure on public finances.

Rachada said the forum had drawn strong interest from private-sector representatives across the country, adding that the government would answer questions and seek common ground with entrepreneurs.