The Role of Multinational Corporations (MNCs) in the Sustainable Growth of Thailand

Abstract

Multinational corporations (MNCs) have played a central role in Thailand’s industrial and economic development, contributing to investment growth, technology transfer, and employment generation across sectors such as manufacturing, services, and technology. While their contributions are significant, MNCs also raise critical challenges, including concerns about labor conditions, regulatory compliance, and environmental sustainability. The purpose of this study was to explore the role of MNCs in promoting and hindering sustainable growth of Thailand. Specifically, the research investigated how MNCs influence labour market quality, technology transfer, environmental practices, and how they align with national policy frameworks such as the Thailand 4.0 initiative. This study employed a qualitative documentary research approach, drawing on secondary data from ESG reports, government publications, policy documents, and academic literature. The focus was on synthesizing the impact of MNCs through economic, social, and environmental lenses, with particular attention to long-term sustainability outcomes. Findings suggest that while MNCs contribute positively to Thailand’s GDP and industrial modernization, gaps remain in employment quality, governance transparency, and environmental accountability. Moreover, government policies and regulatory mechanisms play a key role in maximizing the benefits and minimizing the risks of foreign corporate involvement.
This study contributes to business literature by offering a Thailand-specific perspective on ESG strategy, multinational engagement, and sustainable development. It also provides managerial and policy recommendations for aligning corporate practices with inclusive growth goals.

Keywords: multinational corporations (MNCs), economic development, labor market, sustainable growth

6517192002 Jay Sadasivini. 2568 (2025), Advisor: ดร.วรางค์รัตน์ นิติวนะกุล – Dr.Warangrat Nitiwannakul, สารนิพนธ์ (Independent Study), TThe Role of Multinational Corporations (MNCs) in the Sustainable Growth of Thailand, นำเสนอในที่ประชุมวิชาการ (Conference), THE 18th NATIONAL AND INTERNATIONAL ACADEMIC CONFERENCE 2025, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, International Business Management, Siam University, Bangkok, Thailand – มหาวิทยาลัยสยาม กรุงเทพมหานคร ประเทศไทย