Transforming towards Value-Based Economy
New economic paradigm where commercialization of innovative ideas
lead to new startups & new industries, and, hence value-based economy
Fall within scope of Digital Manufacturing Platform and Smart City Platform
Thailand 1.0 was based on traditional agriculture, before transitioning to the light industry of Thailand 2.0 and then the heavy industry of our current 3.0 status. The transition from 1 to 3 was a fairly conventional and smooth evolution that didn't require a huge leap in development.
In the first model, “Thailand 1.0,” emphasis was placed on the agricultural sector.
The second model, “Thailand 2.0,” focused on light industries, which helped upgrade the country’s economy from the low-income to middle-income status.
In the third model, “Thailand 3.0,” the country is currently emphasising heavy industries for continued economic growth. During this period, Thailand has become stuck in the middle-income trap and faces disparities and imbalanced development.
Thailand 4.0 focuses on a “value-based economy,” as the country needs to deal effectively with disparities and the imbalance between the environment and society.