Bangkok (VNA) – Thailand’s National Economic andSocial Development Council (NESDC) has approved a framework for the country's 13th national economic and social development plan, spanning from 2022 to 2026, with thefocus placed on high value-added economic development.
The next national economic and social development planshould aim to provide Thailand a high value-added economy, according to thestate planning unit.
This is an appropriate time for Thailand to restructure themanufacturing sector to focus more on high value-added activities, said DanuchaPichayanan, Secretary-General of the NESDC.
A high value-added economy focuses on those activities thatgenerate a large margin between the final price of a product or service and thecost of the inputs used to produce it, thus creating higher profits forbusinesses and higher wages for workers.
He said under the 13th national plan, Thailand's developmentwill focus mainly on four areas over the next five years.
The first area is to restructure the industrial sectortowards higher technology.
Danucha said companies listed on the Stock Exchange ofThailand are still engaged in conventional industries, in contrast to thoselisted on the Dow Jones Industrial Average, which contains high-technologycompanies.
Thailand needs to transform the manufacturing sector tohigher value-added industry and high technology such as the bio-, circular,green economy, which can increase the value of farm products; electricvehicles, which can create supporting industries including smart electricalparts and a smart grid; and an emphasis on the medical industry, tourism,logistics and digital services, he said.
Danucha said Thailand should no longer focus on a highvolume of foreign visitors, instead attempting to attract high-quality foreignvisitors with relatively high spending.
The second area of the new plan is to build opportunity forThais to have more security in their life, both in terms of income andwell-being, in order to narrow income disparity, he noted.
Thirdly, the government needs to ramp up its support forcommunity-based businesses and small and medium-sized enterprises, smart citydevelopment and a better environment, added Danucha.
The fourth area is high-quality workforce development,improvement of government management to facilitate investors, and publicservices, he said./.
The next national economic and social development planshould aim to provide Thailand a high value-added economy, according to thestate planning unit.
This is an appropriate time for Thailand to restructure themanufacturing sector to focus more on high value-added activities, said DanuchaPichayanan, Secretary-General of the NESDC.
A high value-added economy focuses on those activities thatgenerate a large margin between the final price of a product or service and thecost of the inputs used to produce it, thus creating higher profits forbusinesses and higher wages for workers.
He said under the 13th national plan, Thailand's developmentwill focus mainly on four areas over the next five years.
The first area is to restructure the industrial sectortowards higher technology.
Danucha said companies listed on the Stock Exchange ofThailand are still engaged in conventional industries, in contrast to thoselisted on the Dow Jones Industrial Average, which contains high-technologycompanies.
Thailand needs to transform the manufacturing sector tohigher value-added industry and high technology such as the bio-, circular,green economy, which can increase the value of farm products; electricvehicles, which can create supporting industries including smart electricalparts and a smart grid; and an emphasis on the medical industry, tourism,logistics and digital services, he said.
Danucha said Thailand should no longer focus on a highvolume of foreign visitors, instead attempting to attract high-quality foreignvisitors with relatively high spending.
The second area of the new plan is to build opportunity forThais to have more security in their life, both in terms of income andwell-being, in order to narrow income disparity, he noted.
Thirdly, the government needs to ramp up its support forcommunity-based businesses and small and medium-sized enterprises, smart citydevelopment and a better environment, added Danucha.
The fourth area is high-quality workforce development,improvement of government management to facilitate investors, and publicservices, he said./.
VNA
