Thailand’s Economy to be Revitalized with ‘Quick Big Win’ Strategy

Bangkok: Renovating the old Thai economy with a Quick Big Win strategy. In a world where the Thai economy is like an "old building" with leaks, peeling paint, and excessive sun exposure, moving forward isn't just about repainting, but about restructuring and modernizing the economy. Associate Professor Weerasak Kowsurat, Chairman of the Working Group on Creative Economy and Visitor Economy Development and International Trade under the Sub-Committee on Trade, Tourism, and Community Economy Development, revealed the sub-committee's approach to achieving a "Quick Big Win" through practical strategies rather than mere policy planning.

According to Thai News Agency, the creative economy is not just about art, but about using creativity to solve problems and generate income. Professor Weerasak emphasized this with examples such as managing vacant spaces by creating a daily parking reservation application in crowded alleys, eco-friendly innovations like replacing bubble wrap with dried rice straw, and establishing a bicycle service center for urban cyclists. The state will not be directly involved but will serve as a "cataloger," matching entrepreneurs with innovation, programming, or funding from financial institutions.

The visitor economy is set to expand beyond just tourists to include all groups of "visitors," such as international students fleeing conflict, conference attendees, and Thai people traveling across provinces. The government is encouraged to have policies to engage these visitors in volunteer or social activities, fostering cultural harmony and sustainable economic activity.

In international trade, Thailand aims to seize new opportunities as the world seeks friends amid geopolitical tensions. The focus is on leveraging relationships to expand trade through existing FTAs and promoting the use of AI technology to overcome language barriers in international e-commerce.

Additionally, the government will crack down on illegal "nominees" by using AI systems and data from state welfare cards to investigate individuals involved in illicit businesses. This aims to maintain cleanliness and fairness in the Thai economic system.

Professor Weerasak emphasized that this initiative must begin with a vision and clean hands. Although immediate results aren't possible, the key is to gather entrepreneurs with ideas and potential into a system so the government can provide targeted support and transform Thailand into a strong and sustainable nation.