Although the government is eager to promote high technology and innovation, the national economic reform committee says the hospitality industry is a strength and where Thailand should focus in the short term to boost the country's income.
Prasarn Trairatvorakul, committee chair and a former governor of the Bank of Thailand, said the tourism, spa, medical, health and hotel sectors should be priorities in the near term to generate revenue.
"The hospitality industry can generate income and create many jobs in the short term," he said. "Thailand should focus on developing human resources in the industry, improving facilities and reducing legal obstacles to pave the way for future growth."
Mr Prasarn said promotion of industries should be based on Thailand's capability.
"High technology and innovation should be promoted, but we should also take into account what categories are viable given the country's capability," he said.
The government is ambitiously promoting investment in 10 targeted industries to stimulate the country's economy and has designed the Eastern Economic Corridor initiative to accommodate such industries. The targeted industries are next-generation cars; smart electronics; affluent medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; and medical services.
Mr Prasarn said that to create more efficiency in budget spending, all agencies tasked with tackling the country's poverty and income disparity should be integrated. The Budget Bureau has said the government plans to allocate 331.92 billion baht in fiscal 2018 to such agencies.
The cabinet in March this year approved national strategy and national reform bills meant to direct the country's economic and social development over the next 20 years. The bills call for the continuity of development regardless of the government in power.
This includes setting long-term goals for social and economic development, containing strategies deemed proper for security, quality of life and the role of government in relation to the public.
Incoming governments are bound by law to perform administrative duties to uphold the plan, while state agencies must pursue development as stipulated in the long-term strategic plans.
