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Foreign data centre operators eager to expand their businesses to Thailand can start buying clean power under the state’s direct power purchase agreement (PPA) scheme in December of this year, says the Energy Regulatory Commission (ERC).

Authorities are keen to launch a pilot direct PPA scheme because it facilitates trade between power companies and their clients, which is a key factor for investors considering development of data centres in Thailand.

Peer-to-peer power trade in the renewables category remains banned in the country, but under a direct PPA, power producers can directly sell electricity to buyers.

Later this month, data centre operators will be given details of the direct PPA, including electricity prices and trade regulations, before the scheme is approved by the Energy Policy Administration Committee next month for a launch in December, said Poonpat Leesombatpiboon, secretary-general of the ERC.

“A public hearing is being held from Oct 3-10, with adjustments expected later for investment issues,” he said.

Participants in the direct PPA must be data centre operators granted investment incentives from the Board of Investment (BoI).

Many investors have applied for the investment privileges. Between 2022 and 2024, up to 27 data centre and cloud services projects were submitted to the board for approval, according to the BoI.

Implementation of the direct PPA scheme, with power generation capacity of 2 gigawatts, will extend beyond the Eastern Economic Corridor, as officials seek locations with adequate renewable energy generation and transmission infrastructure to support the initiative, said Mr Poonpat.

Solar energy will be prioritised for the scheme due to its lower generation costs compared to other renewable sources, said ERC deputy secretary-general Kan Saengruang.

Clean electricity prices under the scheme should not be different from those under direct PPA schemes in Vietnam, Malaysia and the Philippines, he said.

The Thai government plans to pilot the direct PPA scheme for a few years before expanding it to other industries, including printed circuit boards, electronics, and electric vehicles, all of which need clean energy to run their businesses.

China logged a welcome uptick in spending on services during the just-concluded eight-day “super Golden Week” public holiday, as the country’s transport hubs handled record numbers of passengers.

Chinese transport authorities logged 2.432 billion passenger trips – a record high and a 6.2% year-on-year increase – during this year’s extended holiday, which combined the National Day and Mid-Autumn Festival celebrations.

The surge was mainly driven by overlapping demand for tourism and family visits, as well as recent improvements to China’s transport network, the Ministry of Transport said in a statement released on Thursday.

The number of passengers taking rail, air and boat trips rose by 2.6%, 3.4% and 4.2%, respectively, during this year’s Golden Week, with travel concentrated in urban clusters such as the Yangtze River Delta, Pearl River Greater Bay Area and Beijing-Tianjin-Hebei region, the ministry said.

Consumers also spent more than last year during the holiday, data from the State Taxation Administration indicated. Daily average sales revenues in consumption-related industries were up 4.5% year on year, according to the latest value-added tax invoice data, the body said.

Spending on services increased by 7.6% compared with the same period last year, while goods sales grew by a more modest 3.9%, according to the data.

The uptick was largely driven by the fact that this year’s Golden Week was unprecedentedly long, with the longer holiday creating a multiplier effect for service consumption, Minsheng Securities said in a research note on Thursday.

“Meanwhile, unprecedented subsidies (from online platforms and merchants) further fuelled service consumption,” it said, citing Amap’s decision to release 100 million yuan (460 million baht) of coupons every day during the holiday.

Amap – one of China’s leading online navigation tools – is owned by Alibaba Group Holding, which also owns the South China Morning Post.

But the research report also noted that despite the high spending figures, Chinese households remain reluctant to splash out on big-ticket items, instead favouring value-for-money options.

The tax invoice data showed relatively rapid growth in spending on digital products and automobiles compared with last year’s holiday, while demand for tourism, arts, culture and sports activities remained robust. Consumption in the catering sector maintained “steady” growth, the tax administration said.

Sales in key retail and catering industries grew 2.7% year on year during the eight-day holiday period, a slight decline from the 4.5% growth recorded during last year’s holiday, according to data from the Ministry of Commerce.

In the tourism sector, overseas tourism stood out as a highlight. WeChat Pay, a major Chinese digital payment service, reported a 21% year-on-year increase in cross-border payments during the holiday.

Japan, South Korea and Thailand remained the top international destinations for mainland tourists this Golden Week, according to WeChat Pay.

Alipay, another major Chinese digital payment service, said the top five destinations for spending by outbound Chinese tourists via Alipay on Oct 1-3 were Japan, South Korea, Malaysia, Thailand and Singapore.

Greece, Laos, Nepal, Portugal and Turkey saw the fastest growth in Alipay spending by Chinese visitors, the platform said.

Visa-free policies for Chinese citizens in countries including South Korea, Malaysia, Singapore and Thailand appear to have boosted visitor numbers, with WeChat Pay transactions up 46% year on year in South Korea and 32% in Singapore.

Inbound tourism also showed an upwards trend. During the first five days of the holiday, the average number of inbound tourists using WeChat’s mini apps per day was up over 60% year on year, according to the platform.

Shanghai recorded a seven-fold surge in the number of tax refund applications submitted by foreign tourists compared with last year’s holiday, after authorities expanded the refund programme earlier this year.

Hong Kong residents also took advantage of the holiday to visit the mainland. WeChat Pay HK logged a 120% year-on-year surge in transactions by Hong Kong residents on the mainland during this year’s holiday, with spending on e-commerce services, pet services and courier services rising fastest.

“Many friends and colleagues I know travelled during the holiday, but were quite prudent in spending,” said Julie Zhou, a Guangzhou-based barista in her 20s.

Arpichaya Yubol shot a bogey-free eight-under-par 64 on Thursday to take a one-stroke lead after the opening round of the LPGA Shanghai tournament.

The 23-year-old Thai had four birdies on each of the front and back nines on the par-72 Qizhong Garden Golf Club.

Minjee Lee, who won the Women’s PGA Championship in June for her third major title, was in a group of five, a stroke behind. Thai world No.1 Jeeno Thitikul, Jenny Shin, Jenny Bae and Ina Yoon also shot 65s.

Another Thai Patty Tavatankit hit a 69 to share 17th place with nine other players while defending champion Yin Ruoning of China shot a 71.

Lee said she navigated the difficult bumpy greens at Qizhong as best she could with her broomstick-style putter. Most of the greens are brown and patchy due to the extreme heat and humidity of Shanghai.

“I feel like with how the greens are, the conditions, I managed pretty well to make, what, seven birdies, so it was a nice day for me,” the Australian said.

The Shanghai event is the first of five tournaments in Asia. There are two weeks in South Korea, including the International Crown team event, and other tournaments in Malaysia and Japan.

Last week, Hwang You-Min extended the incredible streak on the LPGA of having different winners at each of the 25 official tournaments this year. Hwang was the sixth player from South Korea to win on the LPGA this year.

In Japan, Ryder Cup teammates Xander Schauffele and Collin Morikawa were both four shots off the lead after yesterday’s opening round of the US PGA Tour’s Baycurrent Classic, as they struggled to cope with windy conditions.

The American duo both carded level-par 71s at the Yokohama Country Club, less than two weeks after playing in the USA’s defeat to Europe at Bethpage Black in New York.

Americans Max Greyserman, Bud Cauley and Brian Campbell shared the lead after shooting four-under 67.

A typhoon is lurking off the coast of Japan and players had to deal with blustery conditions, despite tee times being moved earlier to avoid the worst of the weather.

Schauffele, who won gold at the Tokyo Olympics in 2021, hit three birdies but also carded three bogeys, including one on the final hole.

Morikawa, who won this tournament in 2023 when it was called the Zozo Championship, damaged a promising round with bogeys on the 15th and 16th before birdieing the 17th.

Cauley said it was tough to deal with the conditions but was satisfied with his bogey-free round.

“The winds were difficult, just trying to manage that,” said the 35-year-old.

“I felt like I hit a lot of good shots, made a couple of putts, and it was nice not to make any bogeys on a day like today, that was difficult.”

The Baycurrent Classic is the only US PGA Tour event currently staged in Asia.

It was previously known as the Zozo Championship and first held in 2019 when Tiger Woods was the inaugural champion. Matsuyama won it in 2021.

Prime Minister Anutin Charnvirakul has acknowledged that the National Health Security Office (NHSO) is deeply in debt to hospitals across the country under the Universal Healthcare Scheme, widely known as the “Gold Card” programme.

He said the government is considering using the central budget to pay off the arrears if the proposal meets the budgetary criteria.

Responding to reports that Dr Rianthong Nanna, director of Mongkutwattana Hospital in Bangkok, has announced the suspension of outpatient services for Gold Card patients due to unpaid medical bills exceeding 110 million baht, Mr Anutin said the issue was widespread.

“The NHSO isn’t just indebted to one or two hospitals — it owes nearly every hospital in the country. They must speed up their financial management,” the prime minister said.

He added that he is currently reviewing the possibility of requesting central funds to clear the debts, as the Budget Bureau is now examining the matter.

“If the situation is considered urgent and meets the required criteria, I will move quickly to resolve it,” he said.

Dr Rianthong, meanwhile, has accused the NHSO of being insincere in addressing the issue, saying Mongkutwattana Hospital had repeatedly demanded payment for the unpaid medical bills but had received no clear response.

He said the financial strain had forced the hospital to borrow money from banks to cover staff salaries.

“If I had known this would happen, I wouldn’t have agreed to treat Gold Card patients in the first place,” he said, adding that he felt the NHSO was “using patients as hostages”.

The dispute began in 2020, when the hospital joined the universal healthcare system after many private clinics were delisted by the NHSO. Initial outstanding payments of 13 million baht from that period are still under administrative court review.

The NHSO deputy secretary-general, Dr Attaporn Limpanyalert, denied the Mongkutwattana Hospital’s 110-million-baht debt figure, saying the actual verified amount owed is about 37 million baht, pending normal budget procedures and data verification.

He said the NHSO will arrange alternative facilities to ensure continued care for the hospital’s 47,000 registered patients.

The Mongkutwattana case has prompted broader concern among healthcare providers and lawmakers.

Sen Veerapun Suvannamai suggested that the NHSO use 8 billion baht from the central fund — recently approved for allocation — to clear hospital debts.

He warned that the mounting debts could lead to severe consequences, including drug suppliers refusing to release medicine to hospitals, delayed salary payments to healthcare staff and shortages of surgical equipment.

The Craft Beer Business Association has submitted a formal petition to the ruling Bhumjaithai (BJT) Party, calling for urgent legislative reforms to remove barriers affecting small-scale brewers in the country.

The delegation, led by association president Natthachai Eungsriwong and secretary-general Praphavee Hemathas, met with BJT deputy leader Siripong Angkasakulkiat to present three proposals bent on unlocking the sector’s economic potential.

Mr Natthachai said the craft beer industry could significantly contribute to Thailand’s grassroots economy, supporting agriculture, tourism and related supply chains.

“We appreciate BJT’s commitment to economic development and support for small entrepreneurs. We believe craft beer has the capacity to drive local growth and generate national revenue,” he said.

The proposals focus on small brewery licensing reform, sales time restrictions and an online alcohol sales ban.

With the licensing reform, the association wants relevant regulations amended to allow small breweries to bottle and distribute off-site, similar to other fermented alcohol products, without burdensome conditions that hinder small producers.

As for sales time restrictions, the association wants the repeal of the nationwide ban on alcohol sales between 2pm and 5pm, which it argues negatively impacts tourism and small business operations.

The association also wants the ban on online alcohol sales lifted.

The government will next week review procedures for holding a referendum on whether to cancel the Memorandums of Understanding (MoUs) signed with Cambodia in 2000 and 2001, to ensure the public is fully informed, Foreign Affairs Minister Sihasak Phuangketkeow told parliament.

During a parliamentary session yesterday, Natthaphong Ruengpanyawut, leader of the opposition People’s Party, questioned the government’s intentions and process in seeking a referendum on revoking the MoUs covering land and maritime border demarcation.

He cited a recent Nida poll indicating nearly 70% of respondents lacked understanding of the MoUs, yet still supported a public vote.

Mr Natthaphong stressed the importance of educating the public before any vote, highlighting the need to balance transparency with protecting sensitive information from reaching Cambodia.

He asked how the government would provide comprehensive, unbiased information, assess potential impacts from cancelling the MoUs, safeguard national interests, and prevent legal action from private concessionaires if the 2001 MoU were revoked.

Mr Natthaphong also queried whether the referendum would proceed if procedural flaws or lack of transparency risked invalidation, and if alternatives to a referendum had been considered.

Mr Sihasak responded to the questions, stating that an effective foreign policy must incorporate input from all sides, including the opposition, and that public participation is vital in matters concerning sovereignty and territorial integrity.

He noted that discussions had already taken place in parliament and welcomed the debate, adding that Cambodia was likely to be closely monitoring developments.

“Conducting a referendum requires careful consideration of public communication, information disclosure, and remedies for affected private parties,” he said.

“Next week, Deputy Prime Minister Bowornsak Uwanno will convene a meeting to review procedural steps. All constructive opinions will be considered, and a clear roadmap will be reported to parliament.”

The ‘One Network’ strategy sets a new industry benchmark for Thailand’s telecommunications sector, delivering a unified, high-performance network that enhances the digital experience for customers. By integrating the strengths of both True and dtac, True Corporation has created a nationwide network that offers superior speed, coverage, and reliability.

Mr Sigve Brekke, Group Chief Executive Officer of True Corporation Plc., said, ‘Today we mark a major milestone in ASEAN’s largest network modernisation, signifying a pivotal step towards delivering exceptional network experiences for our customers and unlocking greater synergy value for our shareholders. Behind this achievement, we have witnessed an extraordinary collective effort from our network experts teaming up with global technology partners to ensure the best possible digital experiences for all customers.’

Over the past two and a half years, more than 3,650 engineers and technicians at True Corporation have dedicated themselves to building the ‘One Network’ – working every day and contributing over 17 million man-hours. Their efforts spanned the entire country, climbing towers and base stations to a combined vertical distance exceeding 2,000 kilometres.

A powerful network integration setting a new standard for transformation

At the core of the ‘One Network’ initiative is a network modernisation strategy that redefines Thailand’s telecom landscape by integrating the infrastructure of True and dtac into a single, unified, stronger network. The project consolidates tower assets and employs spectrum pooling nationwide to maximise efficiency, enhance 5G and 4G coverage, and lay the foundation for future technologies. It focuses on selecting and optimising the best-performing sites to ensure top-quality connectivity today while paving the way for tomorrow.

In addition, True Corporation has significantly boosted network performance through spectrum pooling, which merges the spectrum assets of both True and dtac into a single, integrated network. This enables customers of both brands to seamlessly share network resources, resulting in stronger signal quality, faster speeds, and more consistent performance across the country.

True Corporation’s network transformation goes beyond speed and coverage but also prioritises customer safety. Through its True CyberSafe initiative, the company leverages advanced AI technology to detect, block, and alert users to cyber threats in real time.

5G Network: Steps to Leadership

The success of the One Network project has significantly improved 5G coverage and performance for both True and dtac customers. With combined spectrum, network capacity, and an expanded coverage footprint, customers now enjoy a seamless experience across the new True network. This marks a substantial step forward in Thailand’s connectivity.

5G Speeds Show Clear Improvement

dtac customers have benefited the most from this project, with 5G speeds increasing by 4.39 times, while True customers have experienced a 1.09-times improvement. These results highlight a major enhancement in network performance, with both brands continuing to advance for their customers.

The One Network project enhances both coverage and signal quality for True and dtac customers. dtac users now experience faster 5G speeds on the 2600 MHz spectrum, while True users enjoy improved 4G efficiency on the 2300 MHz band.

This network upgrade also enables full 90 MHz bandwidth utilisation of the 2600 MHz spectrum for 5G, supported by Dynamic Spectrum Sharing (DSS) technology, which allows flexible use between 5G and 4G on the same band. Furthermore, the 2300 MHz spectrum is being enhanced to increase data capacity and will be combined with 2600 MHz for expanded 5G deployment. The 1500 MHz band, a new spectrum, will also deliver faster, stronger, and more stable 5G and 4G experiences nationwide.

A New Standard for Sustainability and Network Reliability

Beyond the direct benefits of speed and coverage, the modernisation of the One Network contributes to environmental sustainability. By reducing redundant towers and improving power efficiency through AI and machine learning, True Corporation expects to reduce carbon emissions by 15-20 per cent as part of its goal to achieve net-zero emissions by 2030.

The success of the network integration is further reinforced by nPerf, which has ranked True 5G as Thailand’s Best Network for nine consecutive years, particularly for upload speeds and low latency. Combined with dtac’s strong quality of experience in browsing and streaming, this integration ensures all customers enjoy the best possible digital experience.

The One Network project is more than an integration; it represents the creation of a new future for Thailand’s telecommunications industry, delivering superior, sustainable connectivity for every True and dtac customer.

Virtual banks are 10 times more likely to reach untapped retail customers than traditional banks, improving the country’s rate of financial inclusion, say new industry players.

According to Tanyapong Thamavaranukupt, co-president of Ascend Money, the planned virtual banks are expected to serve 7-19 million individuals, compared with 2-3 million served by existing traditional banks.

As a result, the virtual banking business should enhance financial inclusion in line with the Bank of Thailand’s requirements, he said at the “Virtual Bank: Game Changer for Financial Thailand” seminar yesterday.

However, Ascend Money’s virtual bank will offer lower lines of credit than traditional banks, likely between 3,000-5,000 baht per individual customer, compared with the 70,000-100,000 baht typically offered by traditional banks, he said.

On June 19, the central bank announced the three successful applicants to establish the country’s first batch of virtual banks.

They are required to commence their business operations within one year of the date of the Finance Ministry’s approval, which was granted on June 19.

The winners are ACM Holding Co (TrueMoney), backed by the Charoen Pokphand Group; Krungthai Bank (KTB), collaborating with Advanced Info Service Plc and PTT Oil and Retail Business Plc (OR); and the SCB X consortium, comprising SCB X (the holding company of Siam Commercial Bank), KakaoBank (South Korea’s largest digital bank), and WeBank (a global digital bank known for its advanced technology).

Ascend Money operates an e-money business under the TrueMoney brand. Leveraging technology, especially artificial intelligence and machine learning, TrueMoney employs only eight loan analysts to process roughly 8 million loan applications annually, compared with around 500 analysts employed by traditional banks.

“For retail loan analysis, TrueMoney relies on humans for only about 1% of applications, while 99% is handled using technology and alternative data. Our virtual bank will similarly leverage technology to keep operational costs much lower than those of traditional banks,” said Mr Tanyapong.

Punnamas Vichitkulwongs, chief digital platform business officer at SCB X, said risk control is a critical factor for virtual banks to survive and sustain business growth.

Fraud risk in particular would be carefully managed in alignment with digital banking services, he noted.

SCB X’s virtual bank will monitor operational, market and credit risk, resembling traditional banking practices, said Mr Punnamas.

Focusing on unserved and underserved customer segments, as required by the regulator, presents a credit risk based on the lower income levels of this market, he said.

Rising household debt is a problem in Thailand, weighing on the country’s economic growth. Around 40% of households rely on informal loans, with an average debt of 54,000 baht per household.

Under the modernised business model of virtual banks, new entrants are expected to offer financial products and services at lower cost, using a risk-based pricing model.

“For example, we can provide accident insurance for food delivery or motorcycle taxi drivers at a premium of just 10 baht per day. This makes the service accessible, compared with existing premiums of 3,000 baht a month, while a rider’s monthly income is around 7,000-8,000 baht,” said Mr Punnamas.

In an era where digital technology and AI are transforming every industry, True Corporation, as Thailand’s leading tech company, shared its vision for driving the nation toward a sustainable digital future, advancing the telecom industry’s growth while creating lasting value for both businesses and society. This vision was presented at the NBTC Symposium 2025 at Dusit Thani Bangkok Hotel, organised by the National Broadcasting and Telecommunications Commission (NBTC) as a platform for exchanging insights and experiences on key challenges in the digital technology sector. The symposium brought together industry leaders to explore emerging trends, cross-sector collaborations, and new opportunities for business and service innovation, all to strengthen the nation’s digital infrastructure and foster sustainable economic growth.

True Ready to Unlock New Chances from AI, Supporting the Shift from ‘Rules’ to ‘Opportunities’

Mr Chakkrit Urairat, Chief Regulatory and Government Relations Officer of True Corporation Plc, stated: ‘Today, we have entered the era of Artificial Intelligence in full force. Digital transformation is no longer optional. It is a necessity for survival. AI is not just another new technology; it represents a major paradigm shift and a key indicator of a nation’s competitiveness. As Thailand’s leading telecom-tech company, True Corporation recognises the importance of establishing a strong AI foundation to open doors to new opportunities, empower the country to stay ahead, and use AI to create real value for society. Our mission is to ensure that everyone can access and utilise AI equally and easily, just like using a calculator to enhance efficiency in work and daily life. At the same time, True is committed to promoting AI literacy among Thais and advancing the responsible and ethical use of AI in accordance with international standards because trust is the most essential foundation of all.’

‘Collaboration across all sectors is a key mechanism in building a digital ecosystem with global competitiveness. When we think of a whistle, many might picture a referee ensuring fair play in a competition. But from another perspective, a whistle can also represent the cheers and encouragement from the supporters, the energy that uplifts the players on the field. Therefore, the whistle symbolises two essential roles: regulation and support, much like the dual role of government agencies that not only establish a balanced regulatory framework but also drive and empower Thailand’s growth in an economy powered by technology and AI. The future is not something we wait for. It is something we build together. And True Corporation is ready to play its part to ensure Thailand becomes a true Technology Opportunity Creator,’ added Mr Chakkrit.

True’s Journey to Net Zero, Leveraging the Power of AI to Enhance Network Efficiency and Energy Use

Meanwhile, Mr Navneet Nayan, Head of Network Strategy of True Corporation Plc, shared his insights on the topic ‘Transforming Telecom for Sustainability: The Role of Mobile Operators in Driving Green Technology and an Eco-Friendly Future.’ He stated: ‘True Corporation places strong emphasis on sustainability from a stakeholder perspective. According to our materiality assessment, the very high-priority issues

include network management and climate change and environmental impact. True has set clear targets to reduce greenhouse gas emissions (Scope 1 and 2) by 21% by 2025 and by 42% by 2030, compared with the 2020 baseline, as we continue to progress toward our ultimate goal of achieving Net Zero greenhouse gas emissions by 2050.’

‘One of the key enablers to achieve this goal is enhancing network efficiency through the full application of digital innovation and technology including AI and Machine Learning for intelligent energy management and smart controllers, as well as increasing the share of clean energy by installing solar panels at base stations. These efforts have enabled True to reduce energy consumption across network sites by up to 20%, upgrade and integrate more than 17,000 base stations, and modernise 100% of its data centres. This reflects True’s strong commitment to conducting business with a foundation in sustainability, particularly in the environmental dimension and climate impact reduction to create a sustainable world together,’ Mr Navneet concluded.

The private sector is calling for a zero corruption policy, regulatory reform and structural modernisation to drive national competitiveness.

During a panel discussion at the Economic Reporters Association’s annual seminar, Poj Aramwattananont, chairman of the Thai Chamber of Commerce, urged all political parties to commit to a zero corruption policy, which should gain strong public support and serve as a foundation for sustainable economic reform.

He also emphasised the need to remove outdated regulations, unlock consumer purchasing power, and empower the small and medium-sized enterprise (SME), trade and farming sectors, while promoting transparency and trust in the economic system.

“We must create a transparent economy that works for everyone,” said Mr Poj.

He reaffirmed his commitment to accelerating free trade agreements in order to strengthen Thailand’s export competitiveness.

The private sector’s plan to revitalise the economy is built on four pillars.

“First, we must build business confidence and strengthen global trade links through regulatory reform and strategic partnerships. Second, we will advance smart agriculture and the net-zero economy by using artificial intelligence and robotics to boost productivity and sustainability,” said Mr Poj.

“Third, we must drive a digital and innovation-led transformation to make the digital economy the foundation of future prosperity. Finally, we will empower Thai entrepreneurs and SMEs with better access to finance, technology and mentorship so they can thrive in a rapidly changing world.”

PROPER INCENTIVES

Despite current challenges, Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), expressed optimism about next year’s prospects, noting a resolution to ongoing global trade tensions could help stabilise markets and support export growth.

“We are beginning to see clearer signs in the global trade environment,” he said. “If the trade war reaches a settlement, Thailand’s export and investment outlook will improve significantly.”

The FTI plans to collaborate with the Board of Investment (BoI) to advance new S-curve industries that can transition the country from traditional manufacturing towards innovation-led and technology-driven sectors. These include next-generation automotive, smart electronics, biotechnology and green energy industries.

“Our focus is to create the right incentives under the BoI framework to attract high-value investment and support structural transformation,” Mr Kriengkrai said. “We must train people who are ready to adapt, innovate and compete globally.”

Consistent and coordinated policy execution is crucial for Thailand’s economic recovery, he said.

“The most important factor is turning policy into concrete, continuous action. If the government can deliver on this, it will strengthen investor confidence and reinforce the foundation of Thailand’s economy,” said Mr Kriengkrai.

STRUCTURAL REFORM

Payong Srivanich, chairman of the Thai Bankers’ Association, called for swift reforms on productivity, public efficiency and structural modernisation to rebuild investor trust and strengthen long-term growth.

Mr Payong also highlighted the country’s weakening credit rating outlook, urging greater transparency and accountability through data reform.

“We must ensure transparency in every aspect, from off-book economic data and informal debt to the corruption index, all under the rule of law,” he said.

The key to escaping the current economic trap lies in embracing technology, sustainability and decarbonisation, said Mr Payong, as they will help transform Thailand into a resilient and future-ready economy.