Having attained upper-middle-income status in recent times, Thailand aspires to reach higher-income status within the next decade. With its strategic geopolitical position and significance as the second-largest economy in the Association of Southeast Asian Nations (ASEAN), the country plays a major role in promoting regional cooperation and integration.
Since the late 1990s, economic growth has been impeded by global economic shocks, natural disasters, sociopolitical tensions, and relatively low investment. Other challenges to growth have included persistent inequality, environmental degradation, and an aging population. In July 2014, Thailand approved a long-term Infrastructure Development Plan to boost the country’s competitiveness, by improving and expanding its logistics and transport networks.
The ADB country partnership strategy, 2013-2016 for Thailand provides the flexibility to respond to the country’s needs and priorities through sovereign and nonsovereign support.