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Worabak Thanyawong denies Ben Smith rumors!
Worabak Thanyawong clarifies his investment ties with Ben Smith and talks about Thailand's new economic strategy 2024/2025.
Worabak Thanyawong denies Ben Smith rumors!
In today's Thailand, which is focused on changes in the international investment environment, Worabak Thanyawong, the former deputy finance minister, is at the center of an emerging controversy. On October 26, 2025, Worabak clarified his long-standing association with Ben Smith after rumors and concerns about their business relationships surfaced.
Worabak is at pains to make it clear that he and Ben Smith have been friends for years, mostly through their children's schooling together. “We have never invested together in large projects such as banks or real estate,” explains Worabak. Rather, they found themselves in the same start-ups in the technology sector. A cannabis start-up in which Worabak invested is particularly in the spotlight. This company is run by a Spanish researcher and a former high-ranking Thai corporate executive, which was a sign of trustworthiness for Worabak.
He only invested one million baht in the cannabis company and this much is said: “I later sold my shares again.” To refute the negative speculation, he explains that the photos published by a foreign journalist were taken during a visit to a research laboratory at Rajabhat University Chiang Rai. He also clarifies that there was only a joint investment solution in a maximum of two start-ups and swears that Ben Smith was not involved in fraudulent activities. “Our discussions were always about the economy and investments,” emphasizes Worabak and called for a judicial review to clarify the facts.
Economic strategy and investment climate in Thailand
Other growth factors include the automotive and electronics industries, while tourism is to be particularly promoted. The Thai government has also created incentives for foreign investment, including tax benefits and simplified approval procedures. Despite the positive outlook, there is also a challenge: the lack of skilled workers and the need for structural reforms are identified as growing problems.
It is important that investments are complicated not only by bureaucratic hurdles, but also by cultural differences that can lead to misunderstandings. Here the AHK could support German companies by offering information and help with their integration into the Thai market.
Overall, financial and investment developments in Thailand appear to be a vibrant topic. While Worabak's efforts to clarify his relationship with Ben Smith are at the forefront, the overarching goal is to create a stable and welcoming economic environment that provides a stage for both domestic and international players.