Infrastructure is central to Thailand’s economic growth and competitiveness. The Royal Thai Government has invested approximately THB 4 trillion (£91.4 billion) in public infrastructure over the past decade, while the country faces an estimated infrastructure investment gap of up to THB 3.3 trillion (£74.7 billion) by 2040. Ensuring this investment delivers maximum value – through a competitive, transparent and high-performing infrastructure market – is therefore increasingly important.

A new CoST report highlights opportunities to do just that, building on the work of the Comptroller General’s Department (CGD) and CoST Thailand where the Thai Ministry of Finance estimates that CGD’s implementation of the CoST approach contributed approximately THB 2.4 billion (£54.5 million) in financial savings in 2024 alone.

The report was funded by the British Embassy Bangkok as part of the UK’s practical support for Thailand’s OECD accession process – where infrastructure governance has been identified as a priority within Thailand’s OECD accession roadmap – and its ongoing support for CoST Thailand.

Developed by CoST, in close collaboration with CGD, the report was shaped through roundtable discussions involving a broad cross-section of Thailand’s infrastructure sector. Participants included 10 Royal Thai Government departments and agencies, alongside leading contractor, engineering and industry associations and civil society. Their first-hand experiences helped identify the challenges and opportunities facing the sector and directly informed the report’s recommendations.

Key findings point to opportunities to:

• ensure pricing and cost adjustment mechanisms better reflect market conditions;
• better integrate and use existing procurement and project data;
• improve consistency and predictability for businesses participating in public procurement;
• strengthen contractor selection and performance monitoring; and
• improve the wider enabling environment, including contract management, risk allocation and enforcement of professional and regulatory standards.

Building on the strong foundations established by CGD and CoST Thailand, the report proposes a sequenced reform roadmap, starting with pricing, data integration and market access before progressing to more advanced reforms.

Read the full report to explore the findings and recommendations.