Bank of Thailand’s Key Strategic Directions
Bank of Thailand’s Key Strategic Directions in 2023
The objective of the Bank of Thailand (BOT)’s 2020-2022 strategic plan was to promote the resilience of the Thai financial and economic system in response to rapidly and significantly changing environments as well as risks, especially in response to the COVID-19 situation, which required timely solutions.
However, to ensure an inclusive and sustainable growth of the Thai economy, the BOT has set a mid-term direction by repositioning Thailand’s financial sector (the new Thai Financial Sector Landscape) and publishing directional papers on various topics such as “Transitioning towards Environmental Sustainability” and “Directions for Development of Payment Systems”.
For short-term direction, the BOT has used the OKRs (Objective and Key Results) as a tool to set annual directions in response to rapidly changing environments including behaviors, business models, financial services, and growing economy. This is to ensure that the BOT can promote smooth economic recovery that inclusively and sustainably benefits the Thai people and continue to responsively perform its duties in this more challenging world.
BOT has 5 key strategic directions in 2023 as follows
1. Smooth takeoff: Making sure that the economy continues to grow without disruption.
2. Sustainable Debt Problem Solving: Setting mechanisms for solving household debt in a sustainable manner
3. Sustainable Finance: Helping drive business transition toward environmental sustainability through financial sector.
4. Digital Finance: Laying down digital financial infrastructure to create opportunity and promote innovation as well as financial inclusion
5. HROD (Human Resource Organization Development): Creating supportive environments to help employees reach their full potential.
Click here for more information about previous BOT's strategic plan