ส.อ.ท. หารือพรรคเศรษฐกิจ เสนอแนวทางขับเคลื่อนอุตฯ ไทย สู่การเติบโตยั่งยืนFTI Discusses with the Economic Party Proposing Directions for Sustainable Growth of the Thai Industry

On Tuesday, February 3, 2026, Mr. Kriangkrai Theeranukul, Chairman of the Federation of Thai Industries (FTI), together with FTI executives, welcomed the executive committee of the Economic Party, led by General Rangsit Kitiyanasup, Party Leader, along with Mr. Tanong Kanthong, President of the International Media Association, Thailand IMCT, Mr. Saththa Kochpalayuk, Executive Board Member, Assoc. Prof. Dr. Kitti Limsakul, Senior Economic Advisor, Dr. Akkarawej Chotinurak, Head of the Economic Working Group, Mr. Natthapong Jitjaroen, Economic Working Group, and Mr. Chatchapol Boonthanapiboon, Working Group Member and Secretary of the Economic Working Group, to exchange perspectives and policy proposals to drive the Thai industrial sector amid the economic challenges both domestically and internationally, aiming to enhance competitive capabilities and lay the foundation for sustainable development in the future at the Passion Room (802), 8th floor, FTI.

Mr. Kriangkrai Theeranukul, Chairman of the Federation of Thai Industries (FTI), stated that the current overview of the Thai economy is in need of urgent recovery, likening it to a “car stuck in a mud pit” that requires power from all sectors and strong, concrete, and continuous measures to stimulate the economy to move forward, especially the promotion of government policies aimed at increasing income, reducing expenses, resolving debt issues, enhancing liquidity, and revitalizing the tourism sector to once again become a main driver of the Thai economy.

Moreover, the International Monetary Fund (IMF) estimates that the Thai economy in 2026 will have a GDP growth rate of 1.6%, slowing from 2.1% in 2025, which aligns with the predictions of the Joint Private Sector Committee of three institutions (Juristic) amid various economic risks and increasing trade deficit trends, even though certain export sectors, such as electronics, are beginning to show signs of recovery. Additionally, Thailand's GDP is being outpaced by neighboring countries and is projected to drop from 2nd to 5th position in ASEAN within the next six years.

On this occasion, Mr. Kriangkrai reflected on the significant challenges faced by the Thai industrial sector, including external and internal factors such as the United States' tax measures, dumping of products and export right abuses, trade wars, geopolitical conflicts, border disputes, household and business debt issues, the strengthening Thai Baht, impacts from climate change, rapid technological shifts, grey businesses and cybercrime, as well as structural issues such as the aging society, middle-income trap, education system, political stability, inconsistent policies, unbalanced budgets, outdated laws, and corruption. Currently, the Juristic has launched an anti-corruption campaign under the name “Zero Corruption: Juristic and Friends Will Not Stand It” with an operational framework in six areas: fostering awareness, anti-corruption policy, risk management systems, public information disclosure, technology, and complaint mechanisms.

The FTI drives 46 traditional industrial groups to enhance competitive capabilities, and currently, Thailand has adjusted its model towards future industries to adapt to the rapid changes in the world and create new engines to drive the economy, by promoting entirely new industries, specifically in the aviation and aerospace sectors and the defense industries.

In light of the aforementioned situation, the FTI proposed eight key directions for the development of the Thai industry, including legal and regulatory reforms, human resource development and workforce productivity enhancement, energy management, promotion of exports and targeted industries, technology and innovation enhancement, sustainable industrial development, support for SMEs, and development of logistics infrastructure and industrial areas to strengthen the nation’s long-term competitive capabilities.

In addition, the FTI presented the book “Reinvent Thailand” to the Economic Party, which compiles policy recommendations for the government to utilize as a practical guideline for policy formulation, hoping that the private sector will be the main driver of the economy while the government supports and creates an environment conducive to adaptation, while the financial sector effectively allocates resources to jointly build a future for Thailand that grows sustainably and steadily.

Furthermore, the FTI is prepared to support the development of six key sectors that are crucial to the Thai economy, including:

• Smart Electronics: A manufacturing base for mid-to-high-end electronics of large global companies, which has potential for an upgrade to design and innovation base.
• Automotive: The largest automotive manufacturing base in ASEAN with a complete and strong supply chain, ready to transition to electric vehicles (EV) and smart vehicles.
• Retail & Trading: A large retail and wholesale market that caters to consumers at various income levels and is distributed across all areas.
• Medical & Wellness: An industry with internationally recognized service standards, having domestic raw material advantages for the production of medicines and medical supplies.
• Agri & Food Processing: An industry well-prepared in terms of agricultural raw materials and complete supply chain from upstream to downstream, ready to elevate to higher-value products.
• Tourism: A tourism sector with diversified attractions, unique culture and cuisine, and the potential to draw high-quality tourists.

All six sectors will play a crucial role in driving the economy, creating jobs, and growing SMEs, as well as connecting with new S-Curve industries that will be the future economic drivers of Thailand.

General Rangsit Kitiyanasup, the Party Leader, discussed the party's ideas and policies for driving the economy and industry to lead the nation to prosperity and immediate recovery, encapsulating five main policies that align with the FTI’s industrial development directions:

1. Strategic Transport Project: High-speed rail, developing high-speed rail connectivity with neighboring countries and regions to become a logistics hub and to facilitate investment, especially for industries relocating production bases.

2. “OCEAN LINK” Project, connecting across the Indian Ocean- the Andaman Sea- Chumphon- the Gulf of Thailand- the Pacific Ocean, to stimulate trade, investment, and the coastal economy. Both projects align with China’s One Belt One Road strategy and discussions on the feasibility of this project have already taken place with the Chinese government. Additionally, it can create massive employment opportunities in the service, industrial, agricultural, and tourism sectors, contributing to GDP growth that could potentially triple.

3. Decisive Anti-Corruption — Zero Corruption: The party has a policy to “eradicate” three types of individuals commonly involved in corruption: businessmen, officials, and politicians, setting maximum penalties for both givers and receivers, including the death penalty for state officials or civil servants violating Section 157 (embezzlement) with no leniency to seriously prevent corruption, believing that corruption could be reduced by 50%.

4. Reforming the Justice System: Law enforcement must be decisive from start to finish, with separation of police and investigative operations to ensure an effective, transparent justice process, reducing disparities by establishing a separate central investigation unit from the existing police.

5. Nationwide Electricity Cost Reduction: Proposing a reduction in electricity costs from approximately 3.94 Baht/unit to 2.80 Baht/unit to alleviate the burden of living expenses for citizens, while the government will manage energy and combat corruption in the electricity system.

Under the government led by the Economic Party, the companies monopolizing energy prices will implement policies considering national benefits, as well as improving gas prices in the petrochemical industry to reflect actual costs, and discontinuing the practice of averaging prices from that sector with household electricity production gas prices. Furthermore, there are policies for the merger of the Electricity Generating Authority of Thailand (EGAT), the Provincial Electricity Authority (PEA), and the Metropolitan Electricity Authority (MEA) to reduce redundancy and improve management efficiency, with all these measures expected to significantly reduce electricity costs.

In addition to the above policies, the party will push for Thailand's membership in the BRICS group to address trade war issues, bargaining power, and expand strategic results. Also supporting the use of AI technology by employing robots to assist in operations aligns with the FTI's direction as well, including establishing processing plants for farmer groups, which would be a significant reform of Thailand’s agricultural sector.

However, General Rangsit added, “If the party becomes the government, within 100 days, we will expedite legal reforms, establish working groups to improve the justice process, cancel MOU 43-44, combat scammers, and set up working groups to formulate agricultural industrial area policies and investigate illegally used state properties, as well as establish working groups for the development of the Andaman-Sea and Gulf Coast.”

Finally, I and the party executives would like to thank the Federation of Thai Industries for honoring us with this opportunity to meet and exchange various opinions, including the current situation of the industrial sector so that the party can utilize this as a guideline for further economic industrial development,”

Furthermore, the party focuses on job creation, income generation, and enhancing economic potential at all levels, with an overall policy aiming to increase income for the public while developing new economic areas in agriculture, industry, and services to accelerate the country's long-term growth.

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Published by the Corporate Communications Department, Federation of Thai Industries (Tel. 0-2345-1051)