The private sector has established a data centre task force to maximise the economic benefits of the industry for both businesses and the public sector.
Speaking at a meeting of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) on Wednesday, Payong Srivanich, chairman of the Thai Bankers’ Association, said the panel established the task force to ensure Thailand gained greater economic benefits from the rapid expansion of data centres.
The private sector also wants to ensure the new wave of investment benefits local communities, creates employment and strengthens the supply chain surrounding the industry. Such investment should create long-term opportunities and help build on the country’s broader economic activities, he said.
Data centres represent a major opportunity for Thailand, with every 100 megawatts of investment estimated to be worth more than 60 billion baht, said Mr Payong.
The committee views data centres as an important part of Thailand’s efforts to develop new growth engines and move towards higher-value industries.
“The private sector agrees with this new wave of investment. However, Thailand needs to develop supporting industries and infrastructure to ensure such investment creates broader economic benefits,” he said.
In addition, the JSCCIB discussed the K-shaped recovery of the Thai economy on Wednesday, noting that local small and medium-sized enterprises (SMEs) are being affected by uneven growth and intense competition. The automotive, petroleum and construction materials sectors are particularly vulnerable.
The panel said Thai SMEs in seven industries under its “Reinvent Thailand” initiative recorded an average 8% decline in production over the past five years. Meanwhile, foreign businesses in the same industries registered production dips of 19%, with Japanese firms particularly affected.
Reinvent Thailand is a joint national platform and policy blueprint launched in September 2025 by the Bank of Thailand and the Office of the National Economic and Social Development Council, together with the private sector and financial institutions, aiming to fix Thailand’s long-term economic problems through teamwork between the government, private businesses and financial institutions.
The idea is to bring businesses, government and the financial sector together to identify structural problems, design policies and implement solutions, rather than having each sector work separately.
Mr Payong said the K-shaped divergence showed that headline economic figures were no longer sufficient to capture the structural changes taking place in the economy. As a result, the private sector called for greater data integration between companies and the public sector. Improvements to databases should focus on coverage and quality, as well as the ability to reflect structural economic changes.
The JSCCIB raised its 2026 GDP growth forecast to 2.1-2.5% from 1.6-2%, while upgrading its export growth forecast to 12-16% from 8-10%, driven by stronger exports and private investment.
The panel expects private investment growth of around 10.5% this year.
“In the past, if exports and private investment grew at the current levels, GDP growth should have been 6-7%,” said Mr Payong.
“But Thailand is recording GDP growth of only around 2%, reflecting rising import content and the limited employment generated by new investment.”
Thailand needs to move quickly to reinvent its economy, strengthen competitiveness and capture opportunities arising from the restructuring of global supply chains, he noted.
The committee plans to discuss these issues on Thursday at its Bangkok Business Summit 2026, where government, business and international organisations will talk about new growth engines, future industries, infrastructure, energy, and ways to build a more resilient Thai and Southeast Asian economy.