Kingdom observes fresh monetary expansion
Published on November 4, 2023, at 8:00 a.m.
Parnpree Bahiddha-Nukara, the foreign affairs minister, did urge Thai ambassadors all over the world to encourage foreign businessmen to contribute to the nation’s projects, particularly its land bridge task, in order to increase domestic financial prosperity.
Mr. Parnpree stated on Friday andnbsp that the government is using” economic diplomacy” to spur new growth and increase investor confidence at an event called” Thailand Next Move 2024: The Next Wealth and Sustainability.”
In order to discuss how to use economic diplomacy to draw in foreign investors, the Ministry of Foreign Affairs did so extend an invitation to all Thai ambassadors serving abroad to a meeting in Bangkok.
The meeting is scheduled for November 20 – 24, according to a source from the Foreign Affairs Ministry.
Prime Minister Srettha Thavisin, according to Mr. Parnpree, has emphasized the significance of this meet with representatives of significant global corporations in order to persuade them to make investments in the nation.
According to him, Thailand’s newfound prosperity may be influenced by the global environment, in which many strong nations compete for influence in politics, business, and technology.
This gives Thailand a chance to express its position in the midst of the world’s monetary unrest, he said.
Thailand’s new economic growth strategy, which will begin the following year, is broken down into three sections, with” Green Growth” serving as one to provide access to funding resources and financial solutions for those reducing greenhouse gas emission production processes.
The other two are” Community-based Growth” to give small and medium-sized businesses access to funding sources and” Innovation-driven Growth,” which uses technology to add product and service value.
Thailand may engage in economic diplomacy to interact with allies around the world in order to achieve these objectives, according to Mr. Parnpree, a deputy prime minister.
” Banks and financial institutions may play a significant part in advancing these ideas and fostering economic growth in Thailand’s neighboring nations.”
The government will also use financial diplomacy to look for opportunities in the online economy, create new-generation business owners, and attract foreign investment.
To increase Thailand’s imports, Mr. Parnpree stated that the government would hasten the free trade agreement conversations.
In order to expand trade and investment opportunities, it will also collaborate with colleagues under the Indo-Pacific Economic Framework, Mr. Parnpree added.
According to Mr. Parnpree, Chumphon and Ranong provinces may become Thailand’s main draw in luring other nations to engage in fair industry thanks to the land gate project, which aims to connect the Gulf of Thailand with the Andaman Sea.
According to him, the project will create Thailand a crucial operational link with other nations.