BANGKOK, Thailand – Thailand is better equipped to withstand global economic pressures than it was during the 1997 financial crisis, according to a Reuters report highlighted by the government ahead of the IMF–World Bank Annual Meetings in Bangkok from October 12–18.
Lalida Phertwiwatana, Deputy Government Spokesperson, said the Reuters report, published on October 9 under the headline “Nearly 30 years after IMF rescue, Thailand faces new economic test,” described how Thailand’s economic position and ability to handle external challenges differ from those during the Asian financial crisis.
The report cited a September assessment by Fitch Ratings, which found that Thailand had weathered the impact of global energy prices better than expected, faced easing deflationary pressures and had a clearer policy direction. Fitch subsequently revised Thailand’s credit outlook from negative to stable.
Lalida said Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas would use the upcoming IMF–World Bank meetings to present Thailand as a “Trusted Connector” linking international economies, trade and investment amid geopolitical tensions and trade disputes.
Thailand will highlight its location, established manufacturing base and regional economic links as advantages for investors seeking a reliable base in Southeast Asia. The government also aims to attract investment into industries with long-term growth potential, including semiconductors, data centres, advanced manufacturing and electric vehicles.
Developing these sectors will require supporting investment in renewable energy, electricity grid infrastructure and skilled workers to meet the demands of advanced technology industries.
However, the Reuters report also outlined continuing challenges for Thailand, including slower economic growth, high household debt and the need for structural economic reform.
The government hopes the international meetings will provide an opportunity to communicate Thailand’s economic direction, build investor confidence and attract new investment. The longer-term goal is to improve the country’s competitiveness and establish a more sustainable foundation for economic growth.
