Thailand

Abstract

With its strategic geopolitical position and significance as the secondlargest economy in the Association of Southeast Asian Nations, Thailand plays a major role in promoting regional cooperation and integration in Southeast Asia. Having attained upper middle-income status, Thailand intends to reach higher-income status by 2032. To achieve inclusive and sustainable economic growth, the Government of Thailand launched “Thailand 4.0” at the beginning of 2016. Thailand 4.0 aims to pull the country out of the middleincome trap by creating a value-based economy that is founded on creativity, innovation, and intellect. Additionally, Thailand’s Twelfth National Economic and Social Development Plan, 2017-2021 supports and aligns with Thailand 4.0. The Asian Development Bank (ADB) has been supporting the Government of Thailand since 1966. ADB has approved $6.79 billion for 278 loans, grants, and technical assistance projects to Thailand.