Thailand's Private Sector Raises 2026 Growth Forecast, Urges Digital Reforms for AI Investment

Thailand’s leading private sector business groups have raised their economic growth forecast for 2026, citing stronger-than-expected exports and investment driven by the global artificial intelligence boom, while warning the country must improve data integration and increase domestic value creation to sustain long-term growth. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), comprising the Thai Bankers’ Association, the Federation of Thai Industries and the Thai Chamber of Commerce, revised its 2026 GDP growth forecast to 1.6-2.0%, up from 1.2-1.6% projected in April-May. It also raised its export growth forecast to 8-10% from a previous contraction of 0.5-1.5%, while increasing its inflation outlook to 2.5-3.0%. JSCCIB said Thailand’s economy has benefited from strong demand for technology products amid the global AI boom. Exports rose 17.6% year-on-year in the first half of 2026, led by technology goods, which account for 26.5% of total exports and expanded 45.9% from a year earlier. Investment has also remained robust, with Board of Investment (BOI) applications reaching 1.47 trillion baht in the first six months of the year, up 37% from the same period last year. Despite the positive momentum, the committee said Thailand has yet to fully capture the value added from the digital economy. It called on the government to strengthen local content requirements, develop domestic supply chains, reduce reliance on imports and create higher-quality jobs so Thai businesses can benefit more from foreign investment. It also urged targeted support for industries lagging behind in the economy’s increasingly K-shaped recovery. The committee also called for better integration of government and private-sector data to improve policymaking and business competitiveness. It said linking factory production, local content, labour and supply chain databases would enable more targeted economic support, improve welfare distribution, crack down on nominee businesses and online crime, and support the government’s broader “Reinvent Thailand” agenda. It also backed five new investment priorities under the government’s industrial policy: an Investment and Industry Transformation Hub, AI and Digital Hub, Green Economy, Financial Hub and Medical Hub. Analysts expect foreign direct investment into ASEAN to exceed US$544 billion by 2038, with Thailand well positioned to attract a significant share, the committee said. The post Thailand’s private sector raises 2026 growth forecast, urges digital reforms to capture AI investment appeared first on Thai Enquirer.