TAG: Economy
From the overthrow of an elected government to the death of a beloved king, Thailand has undergone serious upheaval in recent years. The state of flux in politics and society has been mirrored in the wider economy, with several years of weak consumption, falling foreign direct investment (FDI) and sluggish growth in comparison to the other emerging markets in ASEAN.
Following a number of recent political and economic challenges in the country, Thailand’s C-suite executives remain notably optimistic about local business conditions in Oxford Business Group’s second CEO Survey on the Thai economy. As well as providing optimistic responses on their short-term investment plans, respondents implicitly underscored their commitment to Thailand’s long-term strategy to become a high-income, valuebased economy, citing engineering, leadership, research and computer technology as their top-four long-term workforce requirements, thereby closely aligning with the objectives of the government’s Thailand 4.0 agenda.
The past few years have come to be defined by major economic restructuring, encompassing government institutions, investment funds, oil and gas, financial services and education. Leadership across the emirate continues to embrace these changes, creating more efficient institutions better equipped to handle challenging times. Continuing to build competencies outside oil and gas, and furthering the knowledge economy, will be crucial to achieving the emirate’s long-term goals.