First impressions count, especially on the world stage. Prime Minister Paetongtarn Shinawatra made an impressive case for investing in Thailand during her first appearance at the World Economic Forum in Davos, Switzerland, where she also signed a free trade agreement with four countries.

“Thailand stands out for its strategic location in the region and status as the second-largest economy in Southeast Asia, boasting world-class infrastructure and industrial estates,” the Prime Minister told the 55th gathering of the forum of global business and political leaders.

To underscore the Kingdom’s commitment to openness and a liberal approach to commerce, she witnessed the signing of a free trade agreement between Thailand and four countries of the European Free Trade Association: Norway, Switzerland, Lichtenstein and Iceland.

One of her goals, she said, is for Thailand to sign free trade agreements with every country in Europe.  The Kingdom is currently in negotiations with the European Union for a free trade agreement.

In particular, she told potential investors that Thailand has three key sectors they should consider because of their pronounced advantages: agriculture, the creative economy, and the sustainability sector.

While Thailand has long been known for its commodities such as rice and sugar, agriculture in the Kingdom now makes robust use of higher technologies. Through advances in technology, Thailand has been able to add value to what it harvests through the development of new products while also increasing efficiency, output and sustainability.

The Kingdom’s second appealing sector is its creative economy and global soft-power reach. The Prime Minister has made increasing Thailand’s soft power a policy priority with support for industries such as film, fashion, design, food, sports and tourism among others.

Equally important is the sustainability sector, which includes expanding investments in alternative energies such as wind, solar and biomass.

Lastly, the Prime Minister emphasized that the government is devoting substantial funds and efforts to upgrade physical and digital infrastructure to attract high-tech industries such as cloud computing, data centers, and semiconductors.

Photo courtesy of https://www.thaigov.go.th/