PM Paetongtarn presses investment agenda at Davos
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PM Paetongtarn presses investment agenda at Davos

New technology to strengthen potential in agriculture, soft power activities and sustainable advanced industries

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Prime Minister Paetongtarn Shinawatra gives a media interview at the World Economic Forum in Davos, Switzerland. (Photo: Royal Thai Government)
Prime Minister Paetongtarn Shinawatra gives a media interview at the World Economic Forum in Davos, Switzerland. (Photo: Royal Thai Government)

Prime Minister Paetongtarn Shinawatra has been highlighting Thailand’s willingness to welcome foreign investment in the digital economy, agriculture, soft power and sustainable industries at the World Economic Forum (WEF) this week in Davos, Switzerland.

The premier on Thursday outlined the government’s vision and policies to top executives from various industries at the “Country Strategy Dialogue on Thailand” forum at the annual gathering of global leaders and businesspeople.

During the forum, Ms Paetongtarn emphasised Thailand’s economic potential including its strategic location and ranking as the second-largest economic hub in Southeast Asia with world-class infrastructure and industrial estates.

She said the country is moving towards tapping the digital industry and new technology to strengthen its potential in three key areas: agricultural industry, soft power activities and sustainable advanced industries.

Thailand gas been promoting the use of AI and robots in the agriculture sector to improve the accuracy and efficiency of agricultural practices and production.

This would help sustain the country’s capacity as a “kitchen of the world”, she said, according to a summary released by her office.

The government also gives high importance to the creative economy, which includes tourism, and is proud to rank among the world’s most popular tourism destinations, she added.

Thailand has positioned itself as “a destination for relaxation” where visitors from around the world can make lifelong memories and recharge their batteries before returning home, Ms Paetongtarn noted.

She said Thailand is also looking to be a hub of the medical and health industry, which is expected to soon become another key driving force in the country’s continuous economic growth.

Green agenda

Thailand also supports the green earth agenda by promoting bio-based industries and adopting the bio-circular-green (BCG) economic model including green investment and technology.

Turning to advanced industries that will shape the future of the country, she said development of an extensive ecosystem for electric vehicles was well under way. As well, the digital economy is being promoted through the creation and operation of new data centres, Ms Paetongtarn said.

Thailand also aims to raise its capacity of using renewable energy, especially solar, wind and biomass, to generate electricity by at least 50% by 2040, she added.

The premier said that in developing its digital economy, Thailand currently focuses on two key elements: digital infrastructure and human resources.

While facilitating the development of financial technology to provide more opportunities for local businesses to compete at the global level, the country also works to attract more investors from overseas to invest in advanced industries such as cloud services, data centres and semiconductor production in Thailand, she said.

The premier also expressed her belief in the benefits of multilateral efforts in supporting the free trade and investment environment, saying Thailand now aims to open negotiations with other countries and territories, including the European Union (EU) and South Korea.

She also emphasised the importance of all nations joining hands to build peace while striving for development and prosperity.

“Thailand is your partner who is ready and determined to invest for a better future,” said the PM.

Ms Paetongtarn is due to arrive back in Thailand on Saturday.

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