Thailand's border trade could reach one trillion baht this year thanks to rapid activity with Laos, Cambodia, Vietnam and southern China, says Deputy Commerce Minister Poom Sarapol.
That amount would represent 12.5% growth from 889 billion baht last year.
Tanit Sorat, a vice-president of the Federation of Thai Industries, said the main obstacle to new investment in Thailand is the daily minimum wage hike to 300 baht, more than 10 times higher than in some neighbouring countries.
"The minimum wage is a key factor for new investors deciding on an investment base. If wages are too high, then Thailand may not benefit from investment under the Asean Economic Community," he said.
Another roadblock is limits on industrial zones in Thailand due to environmental protests from communities.
Mr Tanit said the government should offer investment promotion in foreign countries for Thai investors, while the private sector should build business networks.
Over the next five years, Thailand's daily minimum wage will increase to 500 baht, as political parties will use the issue to win elections, he predicted. Employers will be urged to pay more welfare to employees.
Myanmar is the current Asean country developing regional investment buzz as it opens up, with industries keen to utilise its abundant cheap labour.
"Thailand is not ready for integrated liberalisation as workers and entrepreneurs need time to prepare," Mr Tanit noted.
