BANGKOK: The 2026 election is drawing intense public attention. The official polling day has been set for February 8, 2026, while voters registered for out-of-constituency advance voting will cast ballots on Feb 1, 2026.
Naturally, the key to winning voters’ support is each party’s policies across various areas, which have been covered continuously by Thansettakij.
Here, we present an overview of industrial policy proposals—an important element in driving Thailand’s economy, or GDP, to expand.
Bhumjaithai pushes New S-Curve
Starting with Bhumjaithai, Ekniti Nitithanprapas, deputy prime minister and finance minister—who is expected to keep the post for another term under the party—said its economic plan for the next four years will follow the “Economy 10 Plus” approach, aiming to keep growth at no less than 3%, described as a “3% Plus” policy.
The target industries intended to serve as new “growth engines” (New S-Curve) include smart agriculture, electric vehicles (EVs), automation, data centres as a base for AI, and the wellness and integrated medical industries. A key condition is technology transfer to Thai people and bringing SMEs into global supply chains.
Ekniti said Thailand’s growth potential has declined steadily—from around 5% in the period after 1997 to about 2.7% now—and growth this year could be only 1.5%, mainly due to structural problems.
To lift growth back to the 4–5% range, he said Thailand must raise total investment closer to its past level of about 40% of GDP, compared with roughly 23% at present. He said projects awaiting investment approval via the Board of Investment (BOI) total as much as 480 billion baht, and unlocking them through a BOI Fast Track programme would help growth this year exceed 1.5% and lift growth next year above current levels.
For infrastructure investment, he said the Thailand Future Fund would be used to mobilise financing for infrastructure development without increasing public debt.
Pheu Thai uses AI to support healthcare and food
Yodchanan Wongsawat, Pheu Thai’s prime ministerial candidate, said the party’s “economic engine” policy is based on the principle that Thailand needs a clear flagship for developing a new economy. He said Thailand should be pushed to become an AI hub, but focused on areas where the country has strengths and advantages, such as food and the wellness economy.
He said agriculture has a strong foundation and rich biodiversity, and is also an upstream source of food and advanced materials—areas Thailand should not abandon. Policy should therefore focus on increasing productivity and raising value by building complete supply chains, and using AI to strengthen the food sector so Thailand can become number one in the world.
For healthcare, he said Thailand should promote the creation of a Medical AI Hub. The focus should be on data centres for Medical AI, rather than general-purpose data centres, because of energy constraints and the risk of limited value added. Such infrastructure, he said, should be built on a project basis that meets people’s needs, and becoming a hub would allow Thailand to access and use medical data before other countries.
Julapun Amornvivat, Pheu Thai leader and a prime ministerial candidate, said the party’s policy is to elevate Thailand into a high-income country and deliver GDP growth of 5% a year. The strategy is centred on geoeconomics through trade and fiscal policy, alongside upgrading technology and innovation so Thailand does not fall behind in modern global supply chains.
Prachachat: expand Ranong Port and add airports
Rungruang Pitayasiri, head of the party’s economic team, outlined the economic policies being presented to voters. He said Prachachat’s base is in the three southern border provinces (Pattani, Yala and Narathiwat), where residents have been heavily affected by both unrest and economic problems. The first priority, he said, is to provide care—both economically and psychologically. Residents face livelihood challenges, and many children and young people are not in the education system, so relief measures are needed to improve quality of life and raise incomes.
He said policies to improve quality of life include reviving the village fund programme, branded as a “peace village fund” similar to earlier village fund schemes, to be used in the three provinces and four affected districts. The aim is not economic stimulus but relief—helping those lacking opportunities. Given the large Muslim population, the party would also seek ways to reduce the cost of performing the Hajj pilgrimage, which is currently more than 300,000 baht per person.
He also highlighted halal development, proposing the establishment of a halal industrial estate. He said halal is not only about food, but also the wider supply chain and many related industries, including pharmaceuticals. The party has discussed the issue with Thai Muslim business leaders and associations with expertise in halal standards, under the oversight of the Central Islamic Council. Prachachat would work to raise standards and expand export markets—such as Saudi Arabia, which has strong demand for halal products—so Thailand can enter these markets more effectively.
He said an urgent issue is the production sector, as private investment has fallen sharply and must be supported because it affects employment and overall household spending. The party would consider measures to support producers and expansion, in consultation with the private sector. He cited China’s model of direct subsidies, including distributing electrical appliances to boost production capacity, while noting concerns about transparency if Thailand were to adopt a similar approach.
The party also plans to consult the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) to exchange views and develop economic policy in partnership with the private sector.
The party’s core economic policy, he said, focuses on stimulating industrial activity, as Thailand relies on exports for around 60% of the economy and the main export base is industry. Foreign industrial investment also has broad, long-term impacts, raising domestic employment. The party targets GDP growth in the three southern border provinces of at least 10%, or about 20 billion baht, from their current combined GDP of around 200 billion baht.
It plans to move forward on three main pillars:
1. Supporting the establishment of an industrial zone focused on electronics parts, semiconductors and chips, linked to Malaysia’s existing chip industrial zone, backed by the Malaysian government, so Malaysia and Thailand can become a regional manufacturing hub. The model would include duty-free and free-port arrangements, with no business or income taxes. Sales tax details would require discussion with the Revenue Department. He said he is confident many investors would be interested, helping upgrade Thailand’s production base. Malaysia already has high-tech industrial zones in the north-west and a “super chip” masterplan; Thailand has the potential to do the same, and investment in provinces near Malaysia would benefit both countries by linking supply chains.
2. Developing ports. He said the South has been unable to build a new port for about 10 years due to EHIA and EIA constraints, and existing ports are full and cannot compete with Penang. Ports such as Khlong Toei and Laem Chabang are also reaching capacity, while markets remain large—especially India, second only to China. The party therefore proposes expanding Ranong Port, which is currently small but has strong development potential. It would address bottlenecks and leverage the port’s location near the rail line in Chumphon, with manageable logistics and the ability to connect by rail to Laem Chabang. The party would develop Ranong into an industrial port, saying private-sector groups have called for capacity to support Thai exports.
3. Developing two additional airports: Pattani Airport—where an airport exists but is used by the military and is currently underutilised, with efforts under way to return it to the Transport Ministry—and Betong Airport, which already has some flights. Both airports are under the Transport Ministry. The party said upgrading them would raise competitiveness in the three provinces and also support tourism growth, helping stimulate the local economy.
He said if these projects—industrial zones, ports and airports—can proceed, they would significantly expand Thailand’s economy, especially industrial zones, which would boost both the local area and the national economy.
People’s Party: accelerate 500bn-baht energy investment
Thanathorn Juangroongruangkit, chairman of the Progressive Movement and an assistant campaigner for the People’s Party, said the party aims for GDP to expand by 3.5% within four years if it forms a government, arguing that growth must come from building competitiveness, with the quickest results typically emerging within four to five years. Over the longer term, it aims to maintain growth towards 4% consistently.
Key investment engines, he said, include energy-related industries, healthcare, and investment to support SMEs.
He said energy policy and electricity-structure reform through a smart grid would create a new investment cycle, requiring 400–500 billion baht over 10 years. The plan focuses on upgrading transmission lines into a smart grid and replacing more than 30 million electricity meters with digital systems, priced at 2,000 baht each, to support liberalised electricity trading and greater competition in the power market.
Democrat: step-by-step growth to 5%
Korn Chatikavanij, deputy leader of the Democrat Party and a prime ministerial candidate, said restoring economic growth to its potential of 5% a year is a goal to be achieved within four years in government, with a step-by-step approach.
He said a government would first need to stabilise GDP at around 2%. If confidence and macroeconomic management can be clearly improved, growth could rise to 3% in 2027 and to 3–4% in 2028, reaching the 5% target once conditions are in place. A key, he said, is changing the public sector mindset to become an “enabler” rather than an obstacle to private-sector work—especially business and investment—and accelerating the use of technology to reform the bureaucracy, reduce costs and improve efficiency.
To drive GDP to 5%, he said Thailand must promote high-potential industries, especially the food sector, currently valued at 3 trillion baht, with a goal of growing it to 5 trillion baht in a short period. High-potential segments include premium foods, particularly pet food, where exports have been growing by as much as 20% a year because the value chain can be controlled from upstream agriculture to downstream production.
He added that Thailand must accelerate the green transition, as massive investment will be driven by technological shifts to reduce carbon emissions and expand clean energy use—creating a new, sustainable engine of growth for the country. - The Nation/ANN
