BOI Unveils Reinvent Thailand Plan to Boost 7 Key Sectors
Ekniti Nitithanprapas leads talks with JSCCIM and 7 industries, targeting 5.4 trillion baht revenue growth by 2030 to drive GDP growth above 3%.
Stock photo for illustration only, not from the actual event
- BOI collaborates with JSCCIM and 7 key industries on Reinvent Thailand strategy
- Targets a total revenue increase of over 5.4 trillion baht by 2030
- Aims to raise investment share to 30% of GDP and enter global Top 20
- Integrates 4 sub-committees under Joint Public-Private Consultative Committee
The Thailand Board of Investment (BOI) has revealed key outcomes from a high-level economic meeting chaired by Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance. The discussions brought together the Joint Standing Committee on Commerce, Industry and Banking (JSCCIM) and representatives from 7 target industrial sectors on November 9, 2026, to formulate a national roadmap ahead of the full Joint Public-Private Consultative Committee meeting led by the Prime Minister.
The strategic dialogue aims to ignite a Second Take-off for the Thai economy through the Reinvent Thailand framework, fostering close coordination between private sector leaders and four specialized sub-committees to enhance national competitiveness.
Stock photo for illustration only, not from the actual event
Narit Therdsteerasukdi, Secretary General of the BOI and secretary of the sub-committee on new investment development, stated that the combined revenue targets proposed by the 7 industry groups exceed 5.4 trillion baht by 2030. The strategy seeks to push GDP growth past 3 percent, elevate investment to 30 percent of GDP, and propel Thailand into the top 20 most competitive economies globally.
The strategic initiatives mapped out across the 7 key industrial sectors include:
- Agriculture and Processed Food: Targeting 860 billion baht in added revenue through New Productivity, New Premium, and New Horizons strategies.
- Automotive: Aiming for 640 billion baht in added revenue, targeting 1.95 million vehicle productions by 2030 and 2.50 million by 2081 through multi-powertrain technologies.
- Smart Electronics: Targeting 500 billion baht in added revenue driven by AI, data centers, and grid modernization, with at least 50% local parts production.
- Tourism: Aiming for 500 billion baht in annual added revenue, transforming the nation into a Global Living Destination via smart tourism intelligence platforms.
- Medical and Wellness: Targeting 1.1 trillion baht in added revenue, pushing international medical service income past 100 billion baht annually and promoting Thai herbs.
- Retail and Commerce: Targeting 800 billion baht in added revenue by ensuring fair competition standards and elevating Thai brands globally.
- Creative Economy: Aiming for 970 billion baht in added revenue by developing tangible assets like gems and intangible assets such as digital media, series, and games.
"The revenue growth targets proposed by the 7 private sector groups, totaling over 5.4 trillion baht, reflect the strong potential of these industries to serve as new engines for the Thai economy."
Narit Therdsteerasukdi, Secretary General of the BOI
The Reinvent Thailand strategy marks a critical turning point for restructuring Thailand's economy and escaping the middle-income trap. By focusing heavily on these 7 high-potential sectors, the initiative aims to generate massive economic value while preparing the nation for rapid global supply chain shifts. Integrating artificial intelligence and green economy principles into manufacturing will foster long-term sustainability, provided that public sector agencies successfully streamline regulations and deliver targeted investment incentives.
Source: Techsauce
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