Incheon: APEC Finance Ministers expressed concerns about the risks of digital inequality and recommended the responsible use of AI.
According to Thai News Agency, Mr. Ekniti Nitithanpraphas, Deputy Prime Minister and Minister of Finance, participated in the 32nd APEC Finance Ministers’ Meeting (APEC FMM) and the 4th APEC Structural Reform Ministerial Meeting (APEC SRMM) held from October 21-23, 2025, in Incheon, Republic of Korea. The discussions focused on ‘Innovation and Digitalization’ to share experiences and policies on innovation, digital transformation, and AI technology, vital for economic, social, and industrial transformation in the APEC region.
The meeting acknowledged the rapid advancement of digital technologies and AI, highlighting their potential to enhance productivity, foster innovative businesses, and support inclusive growth. However, it also addressed the pressing issue of digital inequality. APEC members were urged to undertake structural reforms for digital transformation, expedite digital infrastructure development, align regulatory efforts, and ensure the responsible implementation of AI.
Mr. Ekniti emphasized the significance of innovation as a crucial element of Thailand’s development and structural reforms to promote sustainable, open, and inclusive economic growth. Thailand has been fostering an innovation ecosystem through the National Innovation Fund, tax incentives for research and development, and other supportive policies to guarantee universal technology access for both the public and private sectors, alongside encouraging investment in the digital domain. The Board of Investment (BOI) has sanctioned over 300 billion baht in digital investments.
Regarding digital transformation, Thailand has improved public service delivery to be more efficient, transparent, and citizen-focused. The country is also advancing AI application under the National AI Master Plan (2022-2027) to encourage AI adoption across public and private sectors. Additionally, it aims to evolve digital financial systems and FinTech businesses, including the creation of Virtual Banks to strengthen financial infrastructure and expand financial inclusion. This initiative also advocates responsible innovation to foster sustainable and secure growth. Innovation and digitalization are not only pivotal economic drivers but also lay the groundwork for enduring structural reforms. Thailand is committed to collaborating with APEC members to attain the collective objective of open, sustainable, and inclusive growth.