The path of the development process in Thailand is no different from other countries in the developing world. Thailand has made tremendous efforts to leave its agricultural past behind and advance towards the dream of modernity and industrialization. The development of large industrial infrastructure projects, such as the Eastern Seaboard Project, the desire to be accepted among the ranks of the NICs, the opening of Thailand’s financial system to international players before the Asian economic crisis, all reflect efforts to industrialize Thailand. The number of factories in Thailand jumped from 40,212 in 1966 to 118,176 in 2003 (DIW, 1966; 2003).