GULF Outlines Pathway for Thailand's GDP Growth Through AI and Digital Infrastructure Calls for Balance Between Regulation and Competitiveness
Mr. Smith Banomyong, Chief Strategy Officer, Gulf Development Public Company Limited (GULF), shared his perspectives at the seminar “Thailand Economic Outlook 2027: New Horizon Beyond the Trap,” during the session “Business Leaders Dialogue 2030: Driving Thailand’s New Horizon.” He said that raising productivity through AI, and building digital infrastructure within the country, are key to restoring meaningful economic growth for Thailand.
Mr. Smith noted that GULF continues to ask how it can contribute to returning Thailand's GDP growth to 7%. Thailand's population has now declined for two consecutive years and its workforce is ageing. In modern economic terms, GDP is the working-age population multiplied by productivity, so raising productivity is the critical path forward. AI is the next step in that progression. If a workforce of 10 shrinks to 5 but doubles its productivity with AI, output stays the same, and any gain beyond that would return GDP to growth.
Mr. Smith outlined two priorities for Thailand: accelerating AI adoption across all sectors, and capturing the AI value chain domestically so that economic value and capital remain in the country. GULF is working with leading global AI companies, including Google and Kore.ai, and aims to develop a digital business spanning the full AI stack.
He also underlined that energy is the foundation of the digital economy, and that a sustainable energy transition requires prices that reflect true energy costs. Data centers, he said, are not the destination but the “road” to the digital economy. Once the infrastructure is in place, high-value jobs and new businesses can follow.
As regional competitors actively court the same investment, Mr. Smith called for regulation that is suited to Thailand's context and does not undermine its competitiveness.
“The question for Thailand is not simply whether to accept data centers, but how we design an ecosystem that welcomes investment responsibly while generating long-term benefits for the Thai economy,” said Mr. Smith.
