Newly appointed Industry Minister Varawut Silpa-archa has vowed to help Thai manufacturers weather the impact of geopolitical conflict and rising energy costs, while steering the country's industrial sector towards greener, more sustainable practices under the government's bio-, circular and green (BCG) economic model.
Global crude oil prices have surged, and supply chains have been disrupted following the Israel–US war with Iran, creating fresh challenges for Thai industry.
Mr Varawut, who assumed office on Tuesday, said the ministry is reviewing ways to cut or delay non-essential projects to ease the state's financial burden and redirect resources towards measures that directly support manufacturers.
"The government will accelerate measures to help entrepreneurs cope with the economic slowdown, rising global energy prices, supply chain disruptions, and shortages of raw materials," he said.
He stressed that assistance will extend across all business sizes -- from large corporations to small and medium-sized enterprises -- many of which are struggling with higher operating costs.
Thailand's industrial sector remains a cornerstone of the economy, driving GDP growth and exports in key areas such as electronics, automotive, and processed foods.
Mr Varawut said his priority is to transition the industry towards high-technology and environmentally friendly production, aligning with global trends to combat climate change.
Under the BCG framework, manufacturers are encouraged to adopt technologies that add value to products while minimising environmental impact.
The minister also plans to meet foreign investors to discuss expansion projects and clarify policies supporting the sector, including the promotion of electric vehicles and the development of renewable energy.
Mr Varawut emphasised that stricter environmental standards will be enforced to raise Thailand's competitiveness in global markets.
"Businesses face severe pressure from economic slowdowns and surging oil prices. The government will not extend burdensome measures but instead provide targeted support to strengthen resilience," he said.
By combining immediate relief with long-term sustainability goals, the new minister aims to position Thailand's industrial sector as a leader in innovation and green manufacturing on the international stage.
