BANGKOK (NNT) – According to the World Competitiveness Ranking 2022, Thailand fell from 28 last year to 33 out of a total of 63 economies this year, as the Kingdom battles the impact of the Covid-19 pandemic.

The World Competitiveness Ranking 2022 was compiled by the World Competitiveness Center under the International Institute for Management Development (IMD).

Thailand’s score well below average

Theeranan Srihong, president of the Thailand Management Association’s (TMA) Centre for Competitiveness, explained that Thailand performed less in all indicators. The Kingdom scored 68.67 this year, a significant drop from last year’s 72.52. Thailand’s score is well below this year’s average of 70.03.

Lack of faith in government policies

He stated that the drop demonstrated a lack of faith in government policies to remodel the economic structure, as well as a lack of confidence in the government’s ability to help the public and economic sectors in order for them to become stronger.

For Thailand to stay competitive, both the public and private sectors will need to improve their “agility” and resilience in responding to the volatile global economic climate, according to Theeranan.

“Thailand: Fit for the Future”

On July 7th, the TMA will play host to Thailand Competitiveness Conference 2022 titled “Thailand: Fit for the Future” to present views on how Thai businesses should change and adapt to remain globally competitive, he noted.

Information and Source

  • Reporter : Na-ark Rojanasuvan
  • Rewriter : Thammarat Thadaphrom
  • National News Bureau : http://thainews.prd.go.th

Read More

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Vietnam, China and Thailand are Cambodia’s top three export destinations

Cambodia’s total export to the Regional Comprehensive Economic Partnership (RCEP) member countries amounted to $1.95 billion in the first quarter of 2022, up 11 percent from $1.75 billion  over the same period last year, a Ministry of Commerce’s data showed on Thursday.

Indonesia’s role in ASEAN’s energy transition

This ESG Intelligence report details the country’s growing role in the global ESG ecosystem, with a focus on topics such as national progress towards renewable energy goals