Thailand’s economic performance has been hampered by structural challenges—marked by sluggish growth, eroding competitiveness, and mounting pressures on businesses and households. In response, the Bank of Thailand (BOT) and the National Economic and Social Development Council (NESDC) have joined forces with key institutions—namely, the Fiscal Policy Office, the Thai Bankers Association, the Federation of Thai Industries, and the Thai Chamber of Commerce—to unveil a new initiative: Reinvent Thailand.

Conceived as a “central platform” for economic policy reform, Reinvent Thailand seeks to shift the nation’s trajectory through three guiding principles:

• Co-creation and execution, encouraging active participation from all sectors—especially the private sector—from policy conception through implementation and evaluation.
• Data-driven policymaking, ensuring decisions are grounded in accurate, timely information to maximise effectiveness.
• Private sector-led, government-supported action, with businesses driving change while government officials remove obstacles and enable a conducive environment.

BOT Governor emphasized that this platform is not about top-down declarations or waiting for government intervention, but about a shared commitment across sectors. He described Reinvent Thailand as “a compass for guiding economic policy to elevate the country’s potential in the long run.”

NESDC’s Secretary-General underscored that Thailand’s longstanding structural issues cannot be solved by temporary fixes or single-agency efforts. He asserted that the platform’s inclusive design will galvanise collaboration across the board—providing the momentum needed for sustainable growth and restoring Thailand’s competitive edge on the global stage.

In its initial phase, the initiative will launch pilot projects targeting immediate economic challenges, with expansion plans covering broader policy domains. The ultimate ambition is to create a stable and continuous framework adaptable by future administrations—one that elevates business competitiveness, stimulates job creation, raises incomes, and enhances quality of life for Thais nationwide.

This move aligns with broader economic trends and development strategies, including prior calls from the NESDC to boost innovation, support small and medium-sized enterprises, and accelerate budget disbursement in response to global headwinds. Together, these efforts mark a renewed emphasis on structural reform, collaborative governance, and long-term economic resilience.