The Study of Competitiveness Performance, Most Problematic Factors for Doing Business and Opportunities of Thai New Engine of Growth Industry to ASEAN Market

Abstract

The purpose of this research was to 1)) study the Thailand competitiveness performance ranking and GDP per capita from 2012 - 2017 by Global Competiveness Report of World Economic Forum, 2) ) study most problematic factors for doing business from 2012 – 2016 by Global Competiveness Report of World Economic Forum, and (3) present potentials and opportunities of Thailand New Engine of Growth Industry has the potential to be a driving factor to the economy and 4) ) present the guidelines in enhancing national competitiveness and collaboration among ASEAN countries. Research result from the Global Competitiveness Report of the World Economic Forum revealed that Thailand's competitiveness over the past five years has improved from the 38^th in 2012-2013 to ranking 34^th in 2017-2016. It is still unstable and tends to be less competitive. The trend of Thailand GDP per capita has been steadily rising from over the past five years 2012-2017, with 2016-2017 reaching the peak of $5,742.30. The Most problematic factors for doing business in Thailand from over the past five years 2012-2017 were (1) Government Instability (2) Inefficiency of Government Bureaucracy
(3) Corruption (4) Policy Uncertainty (5) Insufficient Capacity of Innovation and (6) Inadequacy of educated workforce. The overall five core industries, Thailand must see the benefit as ASEAN member countries or ASEAN community for socio-economic development in three sides: trade agreement, technology and overall competitiveness. Thus, alternative strategy in developing Thailand industries to achieve economic competitiveness at five main strategic industries: (1) automobiles and parts industry, (2) electric and electronics industry, (3) food industry, (4) rubber industry, and (5) renewable energy industry. As a result of the study of both micro and macroeconomic strategies, Thailand should adopt an Aggressive Strategy because Thailand has potential for production and location as the geographical hub in ASEAN.