Apirak KosayodhinAdvisor to Prime Minister of Thailand

Reinvent Thailand

ASIA : Road to New Economy

1. Current Situation2. New Global Trend3. 5Cs Model4. Creative economy5. New Society/New DNA

Reinvent Thailand

Current situation

• Global economic crisis• Political issues• 2009 FLU (H1N1)• ASEAN + 3 + 6• Economic Stimulus Package (SP2)

Thailand's major strengths are low cost of living and healthy environment for employment

1. Difference between overall IMD ranking of Thailand (27) and sub factor scores. Use 10 to approximate 1 standard deviation difference. Source: IMD Competitiveness Report 2008

2. Healthy environment for employment contains fair compensation level, high employment rate and high labor force number and business friendly regulations

Low

High

High

Gap in ranking between overall IMD index of Thailand with subfactor score

Factor effect on ability of Thailand to develop sustainable competitive advantage and prosperity

(+101)

Healthy environment

for employment2

(24)

Key strengths Thailand can leverage

Mgmt practice

(8)

Low High

IMD competitive ranking analysis of major strengthsIMD competitive ranking analysis of major strengths

Low inflation and cost of

living(23)

Economic performance

Government efficiency

Business efficiency

Infrastructure

Attitudes and values

(7)

Appropriate consumption

tax rates(22)

Infrastructure and business efficiency identified as major weaknesses of Thailand

1. Difference between overall IMD ranking of Thailand (27) and sub factor scores. Use 10 to approximate 1 standard deviation difference. Source: IMD Competitiveness Report 20082. Weakness in low number of care providers

Low

High

High

Gap in ranking between overall IMD index of Thailand with subfactor score

Factor effect on ability of Thailand to develop sustainable competitive advantage and prosperity

(-101)

Insufficient health

quality2 (-20) Insufficient education

quality(-16)

Low productivity & efficiency

(-21)

Highest priority gap

to address

Finance: bank

efficiency(-4)

Societal framework

(-9)

Basic infrastructu

re(-2)

Tech – low penetration of internet

users(-16)

Low High

Low GDP per capita(-21)

Public finance

(-2)Business legislation

(-2)

Low direct investment

stocks abroad(-20)

Economic performance

Government efficiency

Business efficiency

Infrastructure

Insufficient scientific

infrastructure (-10)

IMD competitive ranking analysis of major weaknessesIMD competitive ranking analysis of major weaknesses

1. Knowledge Society2. Innovation / Imagination3. Urbanization4. Climate Change5. Health and Safety Concerns6. Aging Society7. International Mobility8. Connectivity9. Cultural Heritage10. Good Governance

New Global Trend

1. Human Capital2. Cultural Capital3. Social Capital4. Institutional Capital 5. Creative Capital

5 Cs Model

• Cultural Heritage• Arts : Visual arts / Performing Arts• Media : Printing / Film / Broadcasting / Digital Contents• Functional Creation : Fashion / Design / Jewelry / Architecture

Creative Economy : UNTAD

1. Knowledge based community2. Green generation 3. Social responsibilities 4. Creative economy5. Sustainable development6. Quality of life

New Society

1. Science and technology skills 2. Innovating skills3. Entrepreneurial skills4. Creative mindset5. Good hearts

Redesign New DNA

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