JSCC raises 2026 GDP target and forms Data Center working group

MGR Online•Economy•7d ago

Reader Briefing

The Joint Standing Committee on Commerce, Industry and Banking (JSCC) has revised upward its 2026 GDP and export forecasts while establishing a dedicated Data Center working group.

•JSCC adjusted the 2026 GDP growth forecast to 2.1-2.5% and export growth to 12-16%.
•A Data Center working group has been appointed to coordinate with government agencies to maximize national benefit.
•JSCC will organize 'The Bangkok Business Summit 2026: Reinvent Thailand, Resilient ASEAN' on September 3, 2026.
•The committee identified a K-shape economic recovery where New Economy businesses grow while traditional SMEs decline.

Overview

•JSCC increased the 2026 GDP growth estimate to 2.1-2.5% from the previous 1.6-2.0% and exports to 12-16% from 8-10%.
•JSCC appointed a Data Center working group to coordinate with the Ministry of Labour, Ministry of Energy, Ministry of Commerce, and the National Economic and Social Development Council.
•Phayong Srivanich stated that Data Centers are similar to power plants in terms of low employment but are necessary for AI integration.
•Pimjai Lee-issaranukul stated that Data Centers are essential infrastructure for developing new S-Curve industries and becoming a hub.
•Phayong Srivanich noted that crude oil prices rose to 95 USD/barrel in early September 2026, increasing pressure on global energy prices.
•JSCC proposed that the government relax diesel export restrictions to balance production and maintain the industrial supply chain.
•JSCC has tracked the K-shape economy since June 2026, noting that Thai SMEs in 7 'Reinvent Thailand' industries saw production drop by an average of 8% over 5 years.
•The Bangkok Business Summit 2026: Reinvent Thailand, Resilient ASEAN is scheduled for September 3, 2026, at the Queen Sirikit National Convention Center.

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Key Entities

Organization

Joint Standing Committee on Commerce, Industry and Banking(คณะกรรมการร่วมภาคเอกชน 3 สถาบัน)

A private sector committee that provides economic forecasts and policy recommendations for Thailand.

JSCC(กกร.)

Abbreviation for the Joint Standing Committee on Commerce, Industry and Banking.

Thai Bankers Association(สมาคมธนาคารไทย)

The association whose chairman, Phayong Srivanich, led the JSCC press briefing.

Federation of Thai Industries(สภาอุตสาหกรรมแห่งประเทศไทย)ℹ️

An industrial organization whose chairman expressed the necessity of Data Centers for S-Curve industries.

BOI

The agency that approved PCB investments mentioned by JSCC.

Ministry of Labour(กระทรวงแรงงาน)ℹ️

A government ministry that the Data Center working group must coordinate with.

Ministry of Energy(กระทรวงพลังงาน)ℹ️

A government ministry that the Data Center working group must coordinate with.

Ministry of Commerce(กระทรวงพาณิชย์)ℹ️

A government ministry that the Data Center working group must coordinate with.

NESDC(สภาพัฒน์)

The National Economic and Social Development Council which the Data Center working group must coordinate with.

Person

Phayong Srivanich(ผยง ศรีวณิช)

Chairman of the Thai Bankers Association and a representative of JSCC.

Pimjai Lee-issaranukul(พิมพ์ใจ ลี้อิสสระนุกูล)

Chairman of the Federation of Thai Industries.

Policy

Reinvent Thailand

A framework covering 7 industries where Thai SMEs have seen a production decline.

Place

Queen Sirikit National Convention Center(ศูนย์การประชุมแห่งชาติสิริกิติ์)ℹ️

The venue for The Bangkok Business Summit 2026.