Govt plans to evenly distribute benefits from economic growth

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Bangkok – The government is putting several development plans into motion to benefit all Thais, capitalizing on the country’s 4.8% economic growth in the first quarter of 2018.

The latest figure, the highest in 20 quarters, was partly due to 5% growth in government spending and exports, as well as a 3.1% increase in private investment. The majority of private investment originated in the 10 new S-Curve industries.

Prime Minister Gen Prayut Chan-o-cha said his administration will channel the economic growth into benefiting Thais from the bottom up. To achieve this goal, the government has laid out national reforms to encompass all aspects of society. It has also been driving the implementation of its 20-year national strategy and various development campaigns, such as the Thai Niyom Yang Yuen or Sustainable Thai Idealism project.

The premier indicated that such measures are being put in place to distribute income to all members of society and generate employment. Gen Prayut said the move represents the apex of collaboration among several ministries, such as the Ministry of Agriculture and Cooperatives, the Ministry of Finance, and Ministry of Interior. He claimed that these government agencies are working tirelessly to create connectivity, add value to Thai products, and foster public engagement, in order to ensure that everyone benefits from economic growth.

The premier also touched on the importance of national security, saying all must contribute to the safety of the nation. He said security is crucial to the Kingdom’s economic growth, affecting key drivers such as tourism.