Thailand’s vision for national development is articulated in the Twelfth National Economic and Social Development Plan (12th NESDP). Realising the NESDP’s objectives will require mobilising the right scale and mix of financing and incorporating a significant volume of diverse resources—from public and private, domestic and international sources.
While the 12th NESDP provides some guidance on particular finance instruments, it does not lay out a comprehensive strategy for mobilising the investments required to achieve its objectives. With support from the United Nations Development Programme, the Government of Thailand therefore conducted a development finance assessment in 2017 and 2018 to help identify areas for strengthening the management and mobilisation of financing for the NESDP and the SDGs.
The DFA indicates that mobilising additional resources will require a series of policies to raise government revenues, invest public finance, stimulate foreign direct investment and stimulate domestic SME growth. Ensuring that these policies are grounded in a clear overall financing strategy that outlines their respective roles and expected contributions to sustainable development would help to increase their focus and effectiveness.
The DFA lays the foundation for the development of an integrated national financing framework (INFF), which could be incorporated in the 20-Year National Strategy. It chapter uses the INFF framework to examine the financing policies and institutional structures being used by the Government of Thailand to identify areas where reforms could strengthen their overall approach.