Bangkok: The Thai Chamber of Commerce has expressed concerns over Thailand's projected GDP growth, warning that the country is at a critical juncture if major reforms and anti-corruption efforts are not promptly implemented. Mr. Poj Aramwattananon, Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand, highlighted these concerns following a report by the National Economic and Social Development Board (NESDB), which indicated a GDP growth of only 1.2% in the third quarter of 2025, with an estimated growth of 2% for the full year. The projection for 2026 stands at a mere 1.7%, significantly lower than that of competing nations.
According to Thai News Agency, Mr. Aramwattananon described these figures as alarming, noting that they coincide with Thailand's role as host for major global conferences such as those organized by the OECD, World Bank, and IMF in 2026. He cautioned that without substantial structural changes, the country's economy could face significant challenges.
The private sector has urged the government to prioritize anti-corruption mechanisms to rebuild foreign investor confidence, emphasizing transparency as a vital foundation for attracting investment and fostering long-term growth. Although the government is advancing with various economic stimulus measures, persistent issues and time constraints demand a comprehensive approach. The private sector is set to discuss structural proposals with Prime Minister Anutin Charnvirakul soon.
Concerns about political stability have also emerged, particularly in light of news about potential parliamentary dissolution and upcoming elections, which have prompted several sectors to delay investments. Mr. Aramwattananon stressed the importance of political stability for businesses to make informed decisions.
The Thai Chamber of Commerce is also keeping a close watch on the US's suspension of tariff negotiations with Thailand. It believes that the Thai government is actively coordinating with all channels to address the issue. The private sector supports the "Half-Half Plus" measure, designed to stimulate spending in late 2025, especially its second phase, which is under review. This measure is expected to assist underprivileged entrepreneurs and enhance business skills in alignment with the new economy.
The Chamber underscores the need for prompt action on corruption, political stability, and economic stimulus measures, suggesting that such actions could pave the way for economic recovery. Conversely, delays could precipitate a crisis sooner than anticipated.