Thailand's competitiveness ranking raised to 25th on global board

BANGKOK, May 30 (TNA) - Thailand's competitiveness in 2019 stands at the 25th position on the global board, from the 30th position in 2018, ranked by the Switzerland-based International Institute for Management Development (IMD). Deputy Prime Minister Somkid Jatusripitak said on Thursday that Thailand's attempts to upgrade the aviation safety and to improve the problem of the illegal, unreported and unregulated (IUU) fishing to certain benchmarks, which have been endorsed by the International Civil Aviation Organization (ICAO) and the European Union (EU), are among major factors resulting in the country's improved competitiveness position this year. Somkid told journalists that he, however, assigned executives of the Office of the National Economic and Social Development Council (NESDC) at a meeting with them in Bangkok earlier in the day to explore approaches to further raise Thailand's competitiveness position in 2020, targeted at higher than the 20th status on the global board. Somkid stated that to further enhance Thailand's competitiveness, he has suggested the NESDC to find ways to further boost the private domestic investment to expand more by about 4.5 per cent, from 3.9 per cent, to cushion the government's growing mega-investment projects. Besides, the NESDC has been suggested to work out measures to further boost the domestic tourism and to strengthen the local community economy to increase the purchasing power and digital skills of the grassroots who will then become a major force to drive ahead the national economic growth through their higher consumption and modern trading systems. According to the Thai deputy premier, he has also suggested that the NESDC support the government's policy on speeding up the production of quality human resources who meet demands of international firms investing in the country's Eastern Economic Corridor (EEC) Project, where innovative and advanced technological industries are emphasized and backed by new high speed train and motorway systems, as well as the expanding aviation networks. The Thai deputy prime minister revealed that he has assigned the NESDC to hold meetings with the private sector, including the Board of Trade of Thailand (BTT), in which the Thai Chamber of Commerce (TCC) is its key arm, and the Federation of Thai Industries (FTI) to work out joint measures to further enhance the country's competitiveness next year. Deputy Prime Minister Somkid is, meanwhile, scheduled to chair a meeting with officials of the Thai Ministry of Commerce and top Thai commercial envoys who are stationed in more than 50 foreign economies worldwide in Bangkok on May 31, during which proposals on stimulating Thai exports amid the ongoing trade war between the United States and China, raised by the private sector at Thursday's meeting with the Ministry of Commerce, will also be discussed. Deputy Commerce Minister Chutima Bunyapraphasara, who chaired Thursday's meeting with the private sector, told reporters that results from the May 31 meeting will then be forwarded to the government's committee tasked with international economic policies for further consideration and decisions at its next meetin to be chaired by the incumbent Thai Prime Minister, set on June 11 in Bangkok, which are expected to also help enhance the country's competitiveness. (TNA)