existMarchIn a speech on national television, Thai Prime Minister Petantan deeply analyzed the reasons for the slow economic growth of the country and promised the public that the government will take effective measures during its term to accelerate the pace of national economic development and address the challenges it is currently facing.

According to Prime Minister Patton, Thailand's Gross Domestic Product (GDP) growth rate for 2023 is only 2.5%, which is not only lower than the government's expectations but also reflects the weak situation of the Thai economy in the current global context. She pointed out that in the past decade, Thailand's investment in emerging industries has been severely insufficient, resulting in the country's development in high-tech fields lagging behind neighboring countries. For example, Malaysia has made significant progress in semiconductor manufacturing, Vietnam has also increased its efforts in coding training, while Thailand's layout in these key industries appears to be stretched thin.

Petongtan emphasized that the lack of preparation for future industries and government budget constraints are one of the main reasons for the slow economic growth in Thailand at present. She mentioned that although the government has been working hard to promote economic development, the limited development funds available for investment due to the majority of the budget being used for fixed expenditures have to some extent constrained the rapid growth of the Thai economy.

To address this challenge, Petongtan calls on private institutions and governments to strengthen cooperation and jointly promote the development of the national economy. She specifically mentioned that commercial banks should increase their loan issuance to small and medium-sized enterprises to support them in expanding their scale, improving their technological level and market competitiveness, thereby driving overall economic growth.

In addition, Paytontan also stated that the government is actively working to control fixed spending in order to free up more budget for government investment and attract foreign investment into the Thai market. She pointed out that despite facing many challenges, Thailand still has significant advantages in attracting foreign investment. In 2023, the total amount of foreign investment in Thailand reached the highest record in nearly a decade, demonstrating the confidence and recognition of foreign investment in the Thai market.

At the same time, Paytontan also called on the Thai people to maintain confidence and patience, believing in the government's determination and ability to promote economic development. She stated that only through the joint efforts and continuous innovation of the whole society can Thailand stand undefeated in global competition and achieve sustained rapid economic growth.