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Date Time THAILAND: Higher productivity in manufacturing key to becoming high-income country Higher productivity growth in Thailand will be a key source of stronger economic growth and better competitiveness, according to the Thailand Manufacturing Firm Productivity Report, a joint research product of the World Bank and the Monetary Policy Department of the Bank of Thailand. For Thailand to achieve its national development strategy target to transition to high-income status by 2037 and to recover from the COVID-19 pandemic’s economic impact, it must accelerate structural reforms to boost investment and accelerate productivity growth of manufacturing firms. Thailand would need to sustain a long-run average growth rate of over 5 percent beyond 2025. Achieving this growth rate would require nearly doubling the current rate of both public and private investment to 40 percent while maintaining one of the fastest Total Factor Productivity growth trajectories, similar to that of South

South koreaBirgit hanslKiatipong ariyapruchyaWorld bank countryWorld bank senior economist for thailandMonetary policy department of the bankThailand manufacturing firm productivityWorld bankThailand manufacturing firm productivity reportMonetary policy departmentTotal factor productivityWorld bank country managerGlobal financial crisisWorld bank senior economistCompetition actதெற்கு கொரியா