Bangkok: Academics emphasize the importance of government-private partnerships in unlocking Thailand's potential for the new global economy, following the South Korean model. Mr. Sitthithorn Thananithichot, a lecturer at the Faculty of Political Science, Chulalongkorn University, highlighted the government's initiative to engage in discussions with major private sector companies as a positive step towards building cooperation to drive the Thai economy in the long term.
According to Thai News Agency, Mr. Sitthithorn noted that many Thai private sector companies are already globally competitive in areas such as management, technology, and talent acquisition. However, Thailand has not fully leveraged the potential of its private sector within its national development strategies. He pointed out that although Thailand possesses world-class companies, there has been a gap in transforming their capabilities into a national driving force.
Mr. Sitthithorn cited South Korea's success, which is attributed not only to the government or private sector alone but to strategic partnerships between the government and large business groups, known as Chaebols. This collaboration allowed South Korea to advance from general manufacturing to sectors like advanced technology and contemporary culture, enhancing its global influence.
Additionally, South Korea focuses on human resources, education, and research and development, transforming its economy from a producer to an innovator. Mr. Sitthithorn stressed that South Korea's success stems from its long-term vision and strategic partnerships, which led to rapid industrial growth.
However, Mr. Sitthithorn believes Thailand should adapt rather than replicate South Korea's model due to changing global contexts. He sees Taiwan as a relevant example, emphasizing support for research and development, innovation ecosystems, and technology SMEs, particularly in semiconductors and AI. For Thailand, he argues, the focus should be on collaborative governance involving the government, private sector, universities, civil society, and younger generations to shape the country's direction and strategies.
Mr. Sitthithorn concluded that national development in the 21st century relies on connecting capital, technology, knowledge, and creative energy, which presents a significant challenge for Thailand. Nonetheless, he believes the current government is on the right track in addressing these challenges.