Analysts at Kasikorn Securities (KS) wrote in a note following their participation in a seminar marking the 50th anniversary of Prachachat Turakij, themed ‘The Long Game,’ where Thailand’s Finance Minister Dr. Ekniti Nitithanprapas delivered a keynote address.
According to the brokerage, the future economic momentum of Thailand will be driven by both government and private sector investment, with recent data from the Board of Investment (BOI) showing record-high applications worth 1.8 trillion baht. Policy initiatives are prioritizing Smart VISA programs and capacity-building funds.
More companies from China’s electric vehicle supply chain are increasingly setting up manufacturing facilities in Thailand and Vietnam, while the analyst also noted a significant rise in demand for data centers.
Furthermore, a new phase of the government’s ‘Half-Half Plus’ scheme will focus on helping merchants analyze their sales and expenses, aiming to reduce reliance on informal borrowing.
Investment in energy and power infrastructure remains a priority, with the government encouraging more private sector participation amid growing constraints from higher public debt levels.
Following these, Kasikorn maintains a cautiously optimistic view, while noting that rising public debt, which is nearing 70% of GDP, may limit further stimulus measures. As a result, the focus is likely to stay on investment.
The brokerage expects listed companies such as WHA, AMATA, CK, STECON, GULF, and KTB to benefit indirectly from these investment-driven trends.
