Anders Bekeken

The Road to Thailand 4.0: Transforming An Economy by Hitachi Inspire The Next

Geschreven op 19-7-2018 - Erik van Erne. Geplaatst in Int. Samenwerking Facebooktwitterredditpinterestlinkedintumblrmail

The Thai government is hard at work to realise their vision of Thailand 4.0. But what is it exactly? And what were the economic models before it?

To create a value-based economy that is driven by innovation, technology and creativity, the Thai government put forward an ambitious plan, Thailand 4.0, in 2016.

This leads the country to rethink its development model by keeping the goals of stability, prosperity and sustainability in mind. It will also lead to the restructuring of the Thai economy as a whole, binding society together and moving forward without leaving anyone behind — precisely to overcome the problem of the middle-income trap.

Transforming an economy has never been an easy job for any government. Today in Asia, many countries are faced with a very daunting task: overcoming the middle-income trap. Income inequality is growing at an ever-faster pace across the region, and Southeast Asian nations are no exception. Even one of the most developed and ‘mature’ members of ASEAN (Association of Southeast Asian Nations), such as Thailand, has to cope with the gravity of the issue.

For decades, Thailand has been running an ongoing marathon towards achieving greater agricultural and industrial development. Despite its remarkable achievements, it has struggled to fully ‘graduate’ into the ranks of advanced economies, due to various reasons including the lack of resources and skills. However, distances are shrinking and the finish line does not seem too far.

With new technologies and social innovation, solutions are now within reach. Even income inequality seems defeatable. It’s up to countries to live up to the challenge by making the best use of the digital revolution, including the rise of the Internet of Things (IoT), to solve the most critical issues affecting their economies and societies, and give rise to what is dubbed ‘the fourth industrial revolution’.

Thailand 4.0 comes as part of a broader and concerted spending effort to attract more foreign direct investment (FDI) and to boost infrastructure investment. While major investments in infrastructure are already underway on high-speed rail networks, roads and airport upgrades, the real focus is on the Eastern Economic Corridor (EEC), which represents the Thai government’s major effort to make Thailand the ‘new economic hub of Asia’. The EEC covers the provinces of Chachoengsao, Chonburi and Rayong on Thailand’s eastern seaboard, and will be an important centre for trade, investment, regional transportation, mainly functioning as a strategic gateway for Asia.

In September 2017, Industry Minister Uttama Savanayana received representatives of 600 Japanese companies to discuss investment into the 10 targeted industries under the Thailand 4.0 policy, and the establishment of the EEC. Hitachi was among those invited, and the tech powerhouse consequently signed a cooperation agreement with the EEC Office on applying its social innovation solutions, including IoT, in the new economic zone. This preferential partnership should not come as a surprise as Hitachi has been highly involved in the development of the ASEAN market, especially in Thailand, which is its largest partner in the region.

Hitachi has been helping to establish innovative environments to support development in Thailand, rolling out its business capabilities in various fields, including the railways, industrial products, and the information and telecommunications system. Through the implementation of Hitachi’s Social Innovation Business, which combines the operational technologies (OT) that have been its strength since its founding with the IT expertise amassed over more than half a century, the company is thoroughly committed to continue contributing to the development of Thailand and the whole ASEAN region by promoting the use of IoT technologies along the EEC.

Zie ook: Dutch Design In Thailand: To Increase the Awareness of Dutch Design in Thailand – Problemen door overstromingen Thailand: Kwart Thailand Staat Blank – Bangkok In Gevarenzone – 118th Year Anniversary of Udon Thani, Thailand: Fireworks – 100 Places To Remember: Bangkok, Thailand – Happy New Year 2561 – Happy Songkran – Sawatdee pi Maï – Thais Celebrate King Bhumibol Adulyadej Birthday – Staatsbezoek Koningin Beatrix en Prins Willem-Alexander aan Thailand – Thailand Gaat Voor Zonne-Energie: De Zonne-Kampioen van Zuid-Oost Azië – The Phi Suea House in Chiang Mai, Thailand: Solar-Powered and Hydrogen Energy Storage

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