Mr. Montree Mahapruakpong, Vice President of the Federation of Thai Industries (FTI) stated that according to the results of the FTI Poll No. 24 conducted in December 2022 on the topic "How will the Thai industry move forward amid the global economic slowdown?", it was found that major economies such as the United States, the European Union, and Japan are signaling that their economies are entering a slowdown due to the impacts of war, conflicts, pressures from the energy crisis, and persistently high global inflation. This has led to the World Trade Organization (WTO) estimating that global trade in 2023 will slow down to just 1%, down from 3.5% growth in 2022 due to the slowdown in export markets in both Europe and the U.S.

It is expected that the signs of an economy entering a slowdown will have a moderate impact on the Thai economy, with rising production costs driven by high energy prices, raw material shortages, and elevated inflation being the main factors pressuring the global economy amid the economic slowdown.

Therefore, it is proposed that the government help manage energy costs to ensure competitiveness, expedite the improvement of laws and regulations, enhance the country's competitive capabilities, reduce the operational cost burden, and attract investment into Thailand. Entrepreneurs also need to enhance production efficiency, reduce unnecessary expenses, and manage inventory to prepare for economic fluctuations.

Moreover, developing the economy according to the BCG Model will be an important and effective policy to drive Thailand's economy in the future. This will lead to the emergence of future industries that are environmentally friendly, utilize clean energy in production, reduce greenhouse gas emissions, increase farmers' incomes through agricultural industries, and introduce new products produced using high-value innovations and technologies, which will be crucial in attracting investment into the country.