Thailand's agricultural sector is particularly exposed to climate risks caused by drought and floods, posing a threat to water and food security, according to Charoen Pokphand (CP) Group, Thailand's largest conglomerate.
Dhanin Chearavanont, the senior chairman of CP Group, said the development of water resources for the agricultural sector is crucial as drought and floods remain a major concern for the sector.
He said ensuring farmers have reliable access to water is essential for increasing agricultural production.
The primary focus should be on designing and implementing effective irrigation systems with extensive coverage, said Mr Dhanin.
"I think the road infrastructure is sufficient. The crucial factor is how can we manage our water resources," he said.
"I think a water management project is the best investment right now."
Mr Dhanin said Thailand has many kinds of local herbs, but they are being overlooked, even though there is high demand from both the local and international market.
CP proposed the government promote and support the cultivation of Thai herbs, while adding a law to control the use of pesticide on Thai herbs, he said.
Moreover, the government should support the Thai durian market by investing in R&D to increase yields, improve varieties and develop more processed products, said Mr Dhanin.
"China's huge population of 1.4 billion and voracious appetite for durian has increased Thai production, while attracting other Southeast Asian nations such as Vietnam and Laos to grow durian," he said.
"However, regional supply is still inadequate to meet increasing global demand."
Speaking at the "THACCA SPLASH - Soft Power Forum", the first international event on soft power held in Thailand, Mr Dhanin also proposed government measures that support the creative and agricultural industries, preferably in the form of a mutual fund to assist those sectors.
"I believe this government will bring prosperity to the country," he said.
Mr Dhanin said Thailand seems to neglect human resource development as the country's educational systems fail to train the workforce to rapidly adapt to a changing environment.
"The development of an agile and smart workforce might take time," he said.
"However, we can attract foreign talent to the country and train our Thai workers during this time."