BANGKOK: Prime Minister Anutin Charnvirakul (pic) said Thailand is returning to the radar of global investors after years of diminished interest, pitching greater political stability and faster approvals as the country competes for capital in industries from artificial intelligence to semiconductors.
"Thailand has been out of radar screen for quite a few years,” Anutin said in a conversation with Steve Forbes at the Forbes Global CEO Conference in Singapore on Wednesday (Oct 7).
"We’ve been lost for a while.”
Since taking office, Anutin said he and Foreign Minister Sihasak Phuangketkeow have travelled internationally to promote Thailand and reassure companies that the country is open for investment.
Attracting foreign direct investment is a "do-or-die policy” for Thailand, Anutin said. "We have to bring Thailand back on the radar screen.”
The pitch comes as investor sentiment toward Thailand has improved following Anutin’s decisive election victory earlier this year, which raised expectations of greater political stability and policy continuity after years of frequent changes in government.
Anutin said Thailand is also trying to move beyond its traditional image as a destination for cheap labour and manufacturing. The country has developed logistics, digital infrastructure and advanced industries while offering companies access to South-East Asia’s broader market of roughly 700 million people, he said.
"We are very well positioned in being the manufacturing base of all kinds of industry, not only automobile,” Anutin said, pointing to AI and semiconductors. "We are a jack of all trades.”
One persistent weakness, he said, is bureaucracy. Anutin said cumbersome government approvals have frustrated investors, prompting his administration to streamline licensing through its "Thailand Fast Pass” programme and give companies a single point of contact at the Board of Investment.
Anutin said foreign direct investment has increased about 30% since the beginning of the year. Investment applications submitted to the Board of Investment reached a record last year and are on track to surpass that level in 2026, driven by sectors including data centers, electronics and other technology industries.
Anutin also said he expects Thailand to sign a tariff agreement with the US when President Donald Trump is expected to be in Asia in November.
The two countries have been negotiating over tariffs and market access, with Bangkok seeking better terms for its exports.
"We have to change, and we have to have speed in moving forward,” Anutin said. "We have to accelerate.” - Bloomberg
