Page 24 - TICA'S MICE GUIDE TO THAILAND 2018-2019

thailand

4.0

What is Thailand 4.0?

Thailand 4.0 is an economic model that has
been established based on a vision to transform
the Thai economy into one that is centred on
innovation. The model illustrates how Thailand
has shifted from economically dependent on
agriculture in Thailand 1.0, to light industry in
2.0 and advanced industry in 3.0.

It also expands on the challenges brought forth
by the ‘middle income trap’, where a country’s
growth slows down after reaching the
middle-income levels. And so, the Thailand
4.0 blueprint will focus on a new development
model that has been adapted from previous
frameworks with the aim of advancing
various industries. This transforms the mentality
of ‘working hard for little gain’ into ‘working
a little but making big gains’ because it will
transform the economy from industry-driven
to technology-driven.

What are the four objectives of
Thailand 4.0?

1. Economic Prosperity: to create and establish 3. Raising Human Values: to transform Thais
a value-based economy that is driven by innova- into first world individuals, ensuring work on
tion, technology and creativity. This model will the Human Development Index (HDI) and
increase Research and Development (R&D) development of Thai universities so that they
expenditure to enhance the country’s standing are ranked amongst the world’s top 100.
as a high-income nation.
4. Environmental Protection: to become a
2. Social Well-Being: to create an inclusive society that values the environment. To possess
society that moves forward together through an economic system capable of adjusting to
the realisation of the full potential of all mem- climate change and reducing carbon emissions.
bers. The goals are to reduce social disparity To put plans in place that reduce risk of crime
and transform the social welfare system. and terrorism.
An example is the ‘Smart Farmers’ programme.

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