Visiting Thai Foreign Minister Maris Sangiampongsa has heaped praise on the Philippines’ economic performance under the leadership of President Ferdinand Marcos Jr.
According to the Philippine News Agency, during a bilateral meeting with Philippine Foreign Affairs Secretary Enrique Manalo in Makati City on Thursday, Sangiampongsa stated that the Philippines has become one of the fastest-growing economies in the region.
“I expressed my admiration for the economic performance of the Philippines under President (Ferdinand) Marcos Jr. that has made the Philippines one of the fastest-growing economies in the region,” Sangiampongsa told reporters in a press conference following the meeting.
The Thai foreign minister’s positive assessment underscores the growing economic ties between Bangkok and Manila.
Sangiampongsa conveyed the increasing interest among Thai firms in expanding their investments in the Philippines, stating that Thailand is committed to further boosting trade and investment volumes with its Southeast Asian neighbor. He sought the continued support of the Philippine government for Thai investors.
Beyond just praising the Philippines’ economic prowess, Sangiampongsa highlighted Thailand’s eagerness to deepen cooperation with the country in areas such as trade facilitation, renewable energy, and food security.
The Thai minister also floated the idea of further expanding flight routes between Thailand and the Philippines, specifically between the popular tourist destinations of Cebu and Phuket, in a bid to stimulate two-way tourism.
Regionally, Sangiampongsa said Bangkok will work closely with Manila to advance the next phase of ASEAN economic integration, with a particular focus on digital economies and sustainable development.
The two countries also agreed to collaborate more closely in combating transnational crimes, including human trafficking and cybercrime, in the Southeast Asian region.
Thailand is also gearing to advance with integrated resort projects in the country, with analysts believing the country could open its first IR as early as 2029, potentially legalizing casino gaming ahead of Japan.
In mid-May, the Ministry of Finance in Thailand requested an additional two weeks to finalize a feasibility study on the legalization of casino gaming.
It is estimated that the integrated entertainment complexes will help generate tax revenue of $328 million in the first year of their operations.
