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Prime Minister Gen Prayut Chan-o-cha has instructed his economics team to strike a balance between its support for foreign and domestic investors, after the government struck a deal with Alibaba Group on e-commerce and the Smart Digital Hub project.
Gen Prayut stressed that the government must protect the interests of Thai investors and SMEs and that the aim of the country’s investment support policy should be to create an environment that encourages competition and economic balance.
Gen Prayut noted that Alibaba intends to support the potential of new entrepreneurs and promote Thai products that are popular in China, including jasmine rice, durian, and other items that have quickly sold out on the Chinese e-commerce platform.
The premier urged Thai businesses to raise their level of competitiveness and confirmed the government’s support for the Thailand 4.0 development agenda. The government has also encouraged Thai businesses to engage with foreign investors to exchange knowledge and expertise, in order to improve on their business models.