Tunis:Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, highlighted Thailand's role as a "Trusted Connector" in the global economy during the 'Building Resilience in a Fragmented World' event. The event featured prominent figures such as Ms. Kristalina Georgieva of the IMF, Mr. Ajay Banga of the World Bank Group, and Ms. Riikka Purra, Finland's Deputy Prime Minister and Minister of Finance. Dr. Ekniti urged that investment be transformed into national capabilities amidst increasing global polarization.
According to Thai News Agency, Dr. Ekniti noted the shift in economic focus from maximum efficiency to stability, affecting trade, finance, and investment. He explained that while trade faces increased obstacles, it can still adapt like water finding new paths. The finance sector, however, is challenged by rising bond yields and financing costs, necessitating strong economic and financial stability.
In the investment sector, global uncertainties are prompting investors to diversify their bases, benefiting Thailand through supply chain diversification. This is evidenced by an 80% increase in foreign investment applications in the first half of 2026, totaling over 1.37 trillion baht. The Thai government aims to streamline regulatory procedures to convert investor interest into tangible investments, focusing on job creation, skill development, and enhancing Thai business capabilities.
Dr. Ekniti pointed out the unequal impact of a polarized world on different countries, with smaller economies being more affected. He suggested that medium-sized economies like Thailand should serve as "trusted connectors" to bridge these disparities by fostering trust and reliable international cooperation. ASEAN is encouraged to boost intra-regional trade, enhance digital infrastructure, promote the ASEAN Power Grid, and expand cooperation beyond the region. The goal is to transform capital into capabilities, improving employment and services.
Moreover, Dr. Ekniti stressed the importance of building trust both internationally and within national societies. He cited the integration of traditional Thai woven fabric patterns into conference room décor as an example of local communities participating on a global stage. This initiative underscores that cooperation and trust must extend beyond government relations to include people and communities. Strong trust is deemed essential for building economic resilience in a polarized world.