Thailand is one of the great success stories with sustained growth and impressive poverty reduction. Thailand technological resources grew after the rise of the 1985 “ Plaza Accord”, A financial agreement lead by the G5 to “depreciate the US dollar in relation to the Japanese yen and German Deutsche Mark through interfering in currency markets.” ( Forbes 2018). While this move ultimately put Japan and most of SouthEast Asia in a financial crisis 1997-2000, Thailand was greatly impacted by this financial agreement. Thailand now became a business destination, creating business deals including electronics and transportation sectors. Thailand, also being close knit to Japan’s government, became the destination for Japan’s motorcycle and automotive industry. Thailand’s rise of technology is largely due to the international business investments.
Thailand is also looking to expand technological resources in children’s schools as they’ve collaborated with Microsoft according to Bangkok Post in 2016. The CEO of Microsoft, Satya Nadella, an Indian native, used to vacation in Bangkok, Thailand with his family though the years of 1960-1970s. In the 70’s Thailand was actively a developing country with little to no technological resources. As the CEO came back to Thailand to speak at the Microsoft IT Conference “Technology for Good” he spoke about bridging the gap between 1st world countries with developing countries who are actively still learning about technology. “In Thailand, Microsoft has donated more than US$2 million in the form of free software, provided training to 430 NGOs, and helped communities fulfil unmet needs while equipping non-profit organizations with the necessary tools.” If you were to compare the technological advances between the United States and Thailand, you can infer that the United States has a very large competitive advantage. Majority of Americans young to old have access to technology and also have 2 or more technological products per person. Whereas technology is integrated in schools and most teachers are being taught how to use these devices for their school children. As a result of this integration, more young adults are looking into careers into IT, Cyber Security and also Coding.
One of the final comments about Thailand’s Technology is their drive to be in the latest technologies and becoming a smart center. “Thailand 4.0” is a very grand and detailed business plan tackling a new Thailand that is not only technical savvy but sustainable as well. “Thailand 4.0 will be characterized by a digitized integrated business and social system and an advanced infrastructure. The plan emphasizes technological innovation and education, assisting digital entrepreneurs, boosting internet access, and retraining workers through the Digital Economy Promotion Agency (DEPA). ( FORBES 2018)
This Plan Includes but not limited to:
“Long-Term Prospects- Thailand’s major corporate players recognize this and are adapting their strategies and operations to help build Thailand’s future in line with the 4.0 vision, expanding their presence both within Thailand and abroad.It is set to become a competitive developed country
Social Sustainability – The vision is to enrich the well-being of those who experience the district and to maximize energy, resource and operational efficiency.
Sustainable Lifestyle – One Bangkok is employing multiple technologies to build a smart city within Bangkok that will be more efficient, cleaner, safer and more livable. One Bangkok’s extensive program aims to lead by example, enhancing urban communities and setting new standards for sustainability in Thailand.
A Global Landmark – One Bangkok will change the way the capital city experiences and enjoys urban life, as well as become a major global landmark that will boost the country’s stature on the world stage.
Bangkok’s Smart City – One Bangkok will revolutionize ways to manage complex operations, including efficient energy consumption and predictive maintenance with automated processes.
Embracing the Digital Banking Era – Technology, retail and telecommunications companies are pushing into financial territory, while breakthrough technologies such as blockchain, big data and artificial intelligence promise innovative new developments in customer service.” – FORBES
