PM approves of Thailand’s better competitiveness rank

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The Prime Minister is satisfied with Thailand’s better ranking in the Global Competitiveness Index, showing the government is driving the country in the right direction, and with confidence that economic growth will exceed 3.5 percent.

The Prime Minister Gen Prayut Chan-o-cha has acknowledged the 2018 Global Competitiveness Index report published by the World Economic Forum, in which Thailand is ranked 32nd, higher than the previous year’s 34th.

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The PM says the improvement of the country’s competitiveness is the result of the government’s efforts to advance the country, which will help improve confidence among Thai and international investors.

“The government has in the previous 2-3 years pushed forward infrastructure development, particularly transportation and the internet network, and promoted human resources development towards the Thailand 4.0 goal.”

The benchmark this year shows Thailand’s major improvement in certain areas, such as the ratio of mobile network subscriptions from 55th ranking to 5th, enrolments in high schools from the 84th to 8th, while the ranking for innovations and technology development preparedness also improved significantly.

The Prime Minister has noted that the areas of finance and marketing in Thailand also received better recognition compared to other countries in the world, including the allocation of capital from domestic sources, the availability of financial services, and the strength of financial institutions, while the government is working to promote political stability, law improvements, intellectual property protection, and the decentralization of technological development to all areas.

He also mentioned that related agencies should maintain consistency in submitting progress reports to organizations such as the World Trade Organization and the International Monetary Fund to ensure the improvements are recognized by the international community, while developments in the agricultural sector and assistance to low-income earners will not be neglected by the government.

The Prime Minister then added that the economic growth of Thailand this year is likely to exceed 3.5 percent, which is the forecast figure given by the Asian Development Bank.