BANGKOK, Thailand – Minister of Industry Varawut Silpa-archa warned that Thailand is entering an era of “polycrisis,” and urged businesses to adapt quickly to survive shifting global regulations and ensure long-term sustainability. Speaking at the Sustain Daily Talk 2026 forum, the Minister stated that the world now faces overlapping challenges, including geopolitics, climate change, trade competition, international regulations, and technological transition. He outlined three phases of impact. In the short term, over the next 1 to 2 years, Thailand should prepare for higher production costs driven by geopolitical tensions, rising energy prices, and potential investment relocation. Severe climate conditions may also impact agriculture and water-intensive industries.
In the medium term, over three to five years, global supply chains will likely face stricter environmental and social standards. Thai businesses unable to reduce greenhouse gas emissions or meet international requirements may risk exclusion from these supply chains. In the long term, over five to ten years, water, energy, and land will become key security factors, and trade competition will intensify. The Minister emphasized that ESG and Net Zero should be seen not as burdens, but as essential for business survival and as opportunities to attract investment, secure green finance, and enhance product value. The Minister stated that the government is promoting new growth engines through future industries, clean technology, upgrades to agriculture and food sectors, SME development, and the BCG Economy Model. The Minister added that Thailand can become a sustainability leader by integrating the Sufficiency Economy Philosophy with modern business practices, enabling the country to adapt, compete, and achieve sustainable growth. (NNT)
