BANGKOK, Thailand – Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas says Thailand can navigate growing global economic uncertainty by pursuing an S-T-I strategy while positioning the country as a safe investment base able to trade with all sides. Ekniti said the global economic structure has changed significantly from the 1980s, when the United States, Europe and Japan accounted for around 50–60% of global GDP. Today, the world economy is more fragmented, with those three major economic powers accounting for only about 25% combined.
The shift has been accompanied by growing geopolitical tensions in the Middle East, the Russia-Ukraine conflict and economic disputes involving major trading powers. The United States is also using tariffs against countries running trade surpluses with it, adding further uncertainty to global commerce.
Ekniti said these risks have changed what foreign investors are looking for. Rather than seeking only the lowest-cost investment destination, investors increasingly want locations that are safe and can trade with countries across different economic blocs. He said Thailand is benefiting from this trend, with investment promotion applications through the Board of Investment (BOI) reaching about 1.47 trillion baht, up almost 40% from the previous period. Electronics, printed circuit boards and semiconductor chip testing have been among the key areas attracting investment. “I have had opportunities to meet foreign investors and asked why they chose Thailand. Most said Thailand is safe and can trade with everyone because we remain neutral,” Ekniti said.
He said investment applications alone would not be enough unless Thailand could convert them into actual investment and generate benefits for the domestic economy. The government has therefore adjusted BOI rules and accelerated approvals through the Thailand FastPass programme to remove regulatory and procedural obstacles. The programme is designed to speed up investment projects and reduce approval times across several agencies. The government is also using the Skill Bridge programme to connect foreign investment with technology transfer and workforce development. The initiative involves cooperation with Thai universities to train workers, develop new skills and establish research centres that support emerging industries.
One example is the effort to attract optical transceiver manufacturers, whose equipment is important for AI and data centres. Ekniti said Thailand is being developed as a major global production base, with cooperation involving Suranaree University of Technology and Thammasat University to train and employ around 20,000–30,000 Thai engineers and workers, alongside plans for research and development facilities in Thailand. Ekniti has described the broader S-T-I strategy as Stabilize Today, Transition Now and Invest for Tomorrow, aimed at maintaining economic stability, accelerating structural and energy transition, and investing in people and technology.
