By Shi Guang, Phoovasit Phirarhdithsayasak (China Report ASEAN – Bangkok Office)
DIGITAL ECONOMY is the driving force of the country’s economy by bringing IT or digital technology to work in increasing productivity, spending less time, but adding more value to products and services for better trade competitiveness. In addition, the current use of smart devices such as smartphones and tablets for communicating over high-speed wireless which makes it easier, thus creating new business opportunities in almost every branch of the economy.
The Thai government takes into account using digital economy into driving the country’s economic growth, the THAILAND 4.0 policy is set to transform the traditional economy into an innovation-driven economy and give Thailand an opportunity to become a high-income country.
This year (2018), Thailand is moving into a full digital economy. Digital economy has generated an economic value for Thailand up to THB 3.15 trillion, with an increase of 24.62% year-on-year, representing 19.42% of the country’s GDP. It is considered the highest growth in 5 years.
ADES2018 (ASEAN Digital Economy Summit), a grand summit happened in Thailand with more than 500 attendees and over 45 medias to report the event. ADES2018 hosted by ASEAN Digital Economic Innovation Research Institute with 4 organizers; Thai-Chinese Friendship Association, Thailand China Journalists’ Association (TCJA), China Report ASEAN, and CAS Innovation Cooperation Centre (Bangkok).
The key topics of ADES2018 were innovation, technology and investment revolving around THAILAND 4.0 policy and opportunities in the Eastern Economic Corridor (EEC), which is a development plan under scheme of THAILAND 4.0, aiming to revitalize and enhance the country’s investment in up-lifting innovation and advanced technology for the future generations.