In late 2026, at a dinner talk in Bangkok, Finance Minister Ekniti Nitithanprapas set out a bid to lift Thailand from its present 26th place in global competitiveness into the top twenty by 2030. His argument is that a nation whose growth was forged in the industrial turn of the 1980s must now find new engines, built on investment that leaves durable capacity behind rather than the brief lift of consumption. Whether the ambition is patient enough to outlast the cycles it hopes to escape remains the open question.
Ekniti Sets 2030 Goal: Lift Thailand From 26th to Top 20 in Global Competitiveness
Investment that builds lasting capacity, not stimulus that fades
Mark
Why does this speech matter beyond the targets themselves?
Mimi
Because it frames investment, not stimulus, as the engine. Ekniti said consumption boosts fade quickly, and he wants capacity that lasts, built around seven industry groups with three priorities each.
Mark
The goals are specific. Is 30% of GDP in investment a big jump?
Mimi
It's from 23% to 30%, so seven points of GDP in about four years. The competitiveness goal is also concrete: from 26th into the top 20.
Luke
Specific, yes, but these are targets, not outcomes. Nothing in the reporting shows how the seven points of investment get funded or whether 3% potential growth is realistic.
Mark
What about the investment growth he cited?
Mimi
He credited the Board of Investment's Fast Pass programme and cited a 28% rise in net foreign direct investment in the third quarter, with 27-28% growth for three straight quarters.
Luke
Note that the figure comes via Bangkok Biznews reporting his remarks. It's the minister's own number, and we haven't seen independent confirmation. Nor do we know what base the growth is measured from.
Mark
And the tax measures?
Mimi
Excise restructuring on imported vehicles not made in Thailand, meant to draw production home, and customs duties of up to 30% on online imports to shield small businesses.
Luke
Whether those actually shift production or protect firms is untested. Same for Skill Bridge: it's described, but no results or funding were given.
Mimi
Fair. The stability argument rests on firmer ground: 10-year borrowing costs around 2% and stable outlooks from Moody's, S&P and Fitch.
Il Polso
- Thailand sits at 26th in global competitiveness, and the government has set itself a 2030 deadline to climb into the top twenty.
- Ekniti warns that the old growth engines are spent and that consumption stimulus fades too quickly to build anything lasting.
- Seven industry teams are racing to name three game changers each, from smart electronics to the creative economy, and to link up across sectors.
- Reported foreign investment has risen 27-28% over three quarters, and the Fast Pass and Skill Bridge programmes must now prove they can turn that momentum into measurable results.
In late 2026, at a dinner talk in Bangkok, Finance Minister Ekniti Nitithanprapas set out a bid to lift Thailand from its present 26th place in global competitiveness into the top twenty by 2030. His argument is that a nation whose growth was forged in the industrial turn of the 1980s must now find new engines, built on investment that leaves durable capacity behind rather than the brief lift of consumption. Whether the ambition is patient enough to outlast the cycles it hopes to escape remains the open question.
On 11 November 2026, at a dinner talk titled "GO THAILAND 2027: NEW GROWTH ENGINES" organised by Thansettakij, Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas presented a plan to carry Thailand from 26th place into the world's top 20 for competitiveness by 2030.
Ekniti argued that growth must come from investment that builds lasting capacity rather than from consumption stimulus that fades. He called this shift the "Second Take-off," saying the country has leaned for decades on engines built during its industrial transformation in the 1980s and now needs new ones. He set three goals for 2030: sustainable potential growth averaging 3% a year, combined public and private investment rising from 23% to 30% of GDP, and a top-20 competitiveness ranking. Foreign capital, he stressed, should also build Thai workers' skills and Thai firms' capabilities.
The effort is organised as "Team Thailand," with the prime minister as manager, deputy prime ministers as coaches and businesses as players. Seven industry groups are each to name three game changers and link up with one another, spanning smart electronics, future mobility, modern agriculture, high-value tourism, wellness and medical services, modern retail and the creative economy, with digital investment and clean energy named as priorities.
Ekniti credited the Board of Investment's Fast Pass programme with easing obstacles for investors, citing a 28% rise in net foreign direct investment in the third quarter. Tax and workforce measures form the midfield: excise changes on imported vehicles not made in Thailand, customs duties of up to 30% on goods bought online, and a Skill Bridge programme to help workers upgrade or retrain. Fiscal stability, backed by the Finance Ministry and the Bank of Thailand and by 10-year borrowing costs near 2%, forms the defence.
He closed by recalling late King Bhumibol Adulyadej's teaching that lasting success takes time, experience and continuous action. What remains to be seen is whether the 27-28% investment growth holds and whether Fast Pass and Skill Bridge deliver results that can be measured.
On 11 November 2026, at a dinner talk titled "GO THAILAND 2027: NEW GROWTH ENGINES" and organised by Thansettakij, Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas laid out a plan to move Thailand into the world's top 20 for competitiveness by 2030. The country currently ranks 26th.
Ekniti argued that growth should come from investment that builds lasting economic capacity, not from consumption stimulus whose effects fade quickly. He called the shift Thailand's "Second Take-off" or "Next Take-off." In his telling, the country has relied for decades on growth engines built during its industrial transformation in 1980, and it now needs new ones.
He attached three targets for government and business to the year 2030. The first is raising sustainable potential growth to an annual average of 3%. The second is lifting combined public and private investment from 23% to 30% of gross domestic product. The third is the move from 26th place into the top 20 in global competitiveness. He added that attracting foreign capital is only part of the job: the government wants that money to build the skills of Thai workers and the capabilities of Thai firms.
To organise the effort, Ekniti described a "Team Thailand" approach. The prime minister is the team manager, the deputy prime ministers are coaches, and private businesses are the players. Industry is the attacking line, backed by government policy and financial stability. Seven industry groups are each asked to identify three "game changers" and to link up with other sectors so their efforts reinforce one another. The groups are smart electronics; smart automotive manufacturing and future mobility; modern agriculture; high-value tourism; wellness and medical services, tied to future foods and Thai herbal products; modern retail; and the creative economy. Digital investment and clean energy were also named as priorities.
Ekniti credited recent investment gains to the Board of Investment's Fast Pass programme, which aims to remove obstacles for investors. Bangkok Biznews reported that he cited a 28% rise in net foreign direct investment in the third quarter, part of 27-28% growth for three consecutive quarters. He pointed to digital businesses, smart electronics and clean energy as sources of momentum. Amid widening divisions in the global economy, he said Thailand had used World Bank and International Monetary Fund meetings to promote a "Building Resilience" approach, and he presented the country as a "safe haven" for investment and a "strategic bridge" between conflicting interests.
Tax policy and workforce development, he said, form the midfield. One measure is restructuring excise duties on imported vehicles not made in Thailand, intended to push companies to move production into the country. Another is customs duties of up to 30% on imported goods bought online, which he cited as protection for Thai small and medium-sized enterprises. A Skill Bridge programme would connect new investment to workforce development, helping workers upgrade existing skills or retrain for different roles.
Fiscal discipline is the defensive line, with the Finance Ministry and the Bank of Thailand working together on stability. Ekniti tied that to 10-year borrowing costs of around 2%, and he cited the stable sovereign credit outlooks from Moody's, S&P Global Ratings and Fitch Ratings as evidence of confidence in the country's direction.
He closed by invoking guidance from the late King Bhumibol Adulyadej: lasting success takes time, experience, accumulated effort and continuous action. What to watch is whether the reported 27-28% foreign investment growth holds, and whether Fast Pass and Skill Bridge produce measurable results.
Citazioni salienti
Thailand needs a 'Second Take-off' with new growth engines, built on investment rather than consumption stimulus whose effects quickly fade.— Ekniti Nitithanprapas, Deputy Prime Minister and Finance Minister
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