Thailand plans reforms to boost growth and cut business costs: PM draft statement

Thailand will pursue broad economic and administrative reforms, aim for faster growth ​and cut business costs through the use of technology, according ‌to a draft policy statement set to be delivered by the prime minister later this week.

The draft, seen and verified by Reuters on Monday, also emphasises ​support for small and medium-sized enterprises, easier access to finance and ​investments in artificial intelligence, semiconductors and clean energy.

The statement also ⁠called for the fast-tracking of an omnibus law within the year ​to scrap outdated regulations that have held back businesses and growth. This ​also included a "super license" to be enacted within 180 days to digitise state services and reduce bureaucracy.

The government is also planning to use big data and AI ​in the agricultural sector to align supply and demand and raise farmer ​income and food exports.

The policy statement also pledged education reforms centred on online access, ‌job ⁠skills and AI-era training, alongside broader welfare measures including healthcare reform, social security updates and expanded support for an ageing society.

The government also promised enhanced domestic security, tougher curbs against drugs and action on transnational ​crime through a review ​of free-visa ⁠entry rules.

Tourism, a key driver of the economy, would be promoted through flexible visas to attract longer stays.

Foreign ​tourist arrivals dropped 2.3% year-on-year to 9.17 million from ​January 1 ⁠to March 29.

Thailand's leading business group said last week that it expects around 32 million foreign arrivals this year, well below the pre-pandemic record ⁠of nearly ​40 million.

The group cut its GDP forecast for ​2026 to 1.2%-1.6% last week, down from 1.6% to 2.0%. Last year, the Thai economy ​grew 2.4%.