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          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.

          22                                                               MICE GUIDE TO THAILAND
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