The World Bank’s Systematic Country Diagnostic Update for Thailand highlights five reform priorities to drive sustainable growth, including improving education, promoting innovation, and enhancing sustainable practices to achieve economic prosperity.
The World Bank’s Systematic Country Diagnostic Update for Thailand
The World Bank has launched its Systematic Country Diagnostic (SCD) Update for Thailand, emphasizing five key reform priorities to drive sustainable growth and inclusive prosperity in the country. These priorities include building strong human capital, fostering a competitive and innovative economy, unlocking growth in secondary cities, ensuring sustainable and climate-resilient development, and strengthening fiscal institutions and public finance.
Focus on Education, Innovation, and Sustainable Development
Thailand needs to focus on improving education outcomes, particularly in STEM fields, and enhancing technological competitiveness in the global market. The country must invest in research and development, innovation, and digital infrastructure. Additionally, promoting sustainable practices in agriculture, manufacturing, and energy production is crucial for reducing carbon emissions and increasing energy efficiency.
Addressing Climate Change and Stakeholder Consultation
The report highlights the challenges posed by climate change and the need for Thailand to develop strategies to mitigate its impact by adapting to changing weather patterns and protecting natural resources. The Stakeholder Consultation and Dialogue (SCD) Update involved input from government agencies, private sector representatives, NGOs, and academic institutions. The update aims to support Thailand’s transition towards economic prosperity while maintaining environmental integrity through a balanced approach to growth and sustainability.
Source : World Bank outlines key reform priorities for Thailand’s economic growth
