The government adapted strict monetary and fiscal policies to control the rate of inflation during this period Rigid monetary policies were used to limit credit expansion in the private sector

The First National Economic Development Plan continually emphasized development in Thailand The Second National Economic Development Plan continually emphasized the development of infrastructure in such areas as communication and transportation

The Second Plan (1967-1971): The Foundation of the Infrastructure The Thai economy was now in a new era of development since the initiation of the First Plan Toward the end of the First Plan

Economic Background for Investment in Thailand Until quite recently, Thailand had a reputation for being primarily a country which relied heavily on commodity exports, it used to be the world’s largest rice exporter However, this is no longer true, the agricultural exports used to represent more than 40 percent of the country’s export in the mid-80s