Thailand 4.0 as a Long-Term Economic Policy: Realization of a Self-Sustaining Innovation Ecosystem as a Condition for Becoming a Developed Country

The purpose of this study was to clarify the possibilities for realizing Thailand 4.0 and the challenges surrounding this endeavor based on local information sourced through interviews and related conferences, as well as a review of existing literature on the topic. The direct interview was with Amata Corporation manager and staff, who were in charge of the project in the industrial park. I also had the opportunity to hear from many stakeholders involved in Thailand 4.0, including a lecture by Kromadit. V, CEO, Amata Corporation. In addition to highlighting the background issues that led to the implementation of this policy, we classified the specific trends of various firms toward the realization of Thailand 4.0 according to the efforts of industrial estates. In conclusion, this paper points out that the creation of a self-contained ecosystem-like network for bringing innovation with economic value will lead to the success of this policy. The foreign capital-dependent economic growth model currently being promoted in Thailand was effective in realizing a middle-income country status; however, its effectiveness in transitioning it to a high-income country is limited. This implies that conversion is required.