These attributes position the Northeast as a key player in producing renewable energy, which could serve as a catalyst for long-term economic revitalization.

Moreover, the region is equipped with numerous tourist attractions and infrastructure that enhance connectivity with Indochina and the Asia-Pacific, featuring roads, dual-track railways, and high-speed trains.

He highlighted the urgent need to tackle rising public and household debt, which currently accounts for 65% and nearly 90% of GDP, respectively.

Suwat delivered these insights at the event 'Isan Next: Revitalise Thai Economy Against Global Crisis' held at Nakhon Ratchasima Rajabhat University.

Former deputy prime minister Suwat Liptapanlop recently emphasized the critical role of Northeast Thailand in revitalizing the nation amid global crises during a speech delivered on December 20, 2024.

Additionally, Thailand's ageing population, with 20% classified as elderly, poses significant concerns for productivity and the rising costs of elderly care.

He pointed out that the Isan region, home to one-third of Thailand's population, contributes at least 10% to the country's GDP, highlighting its importance for economic revitalization.

The Northeast is not only rich in agricultural products like sugarcane, cassava, and rice, but it also boasts a distinctive cultural identity that includes unique food, art, and history.

Suwat proposed leveraging Thailand's unique strengths in agriculture, food, service, tourism, and culture to address economic challenges and enhance quality of life sustainably.

Suwat identified various factors affecting both Thai and global economies, including geopolitical conflicts, trade wars, inflation, and climate change-induced natural disasters.

These economic challenges are compounded by declining GDP growth, competitiveness issues, and an outdated education system, particularly affecting the manufacturing sector.

The high levels of public and household debt impact Thailand's credibility and overall economic stability, necessitating immediate attention.