CREATIVITY HOLDS THE KEY FOR THAILAND

       Thailand needs to capitalise on its cultural heritage and creative abilities in its recovery from the global economic crisis, leading economists told a conference recently.
       The international conference on "Asia: Road to New Economy" was held at the Plaza Athenee Hotel by The Nation and Asia News Network.
       In his talk on "Reinventing Thailand," Apirak Kosayodhin, adviser to the prime minister and former Bangkok governor, described the emergence of a new global trend characterised by a knowledge-based society with strong innovation and creative skills.
       He noted that as the country recovers from the global economic crisis, political issues and the 2009 influenza epidemic, it needs to focus more on its human capital, educational standardisation, and technology and innovation skills to drive the knowledge-based society.
       The new focus would also take into account factors such as cultural heritage, urbanisation, greater international mobility and connectivity, health and safety, the ageing society, good governance and climate change.
       Thailand, particularly upcountry areas such as Isaan and the North, possess an exceptionally rich cultural heritage that can provide the basis for various creative- and tourism-related economies, he said.
       There is a need for more investment to drive Thailand's creative potential, he said. The major components of the creative economy are "cultural heritage; arts - including the visual and performing arts; media - including printing, film and broadcasting; digital content; and functional creation including fashion, design, jewellery and architecture".
       Knowledge-based communities are important in sustainable local development, he said. Close ties between these rural private sector entities and local universities would facilitate research and development spending in the creation of innovative new products and services.
       The "sufficiency economy" theory of His Majesty the King was "an important factor in sustainable development that can lead to an improved quality of life", he said.
       Thailand's DNA needs to be redesigned with competitive science and technology skills, more innovation and out-of-the-box thinking, and broader entrepreneurial skills across a greater class range. "We need to drive the creative mindset across a balance of skills," he added.
       Stephen Spratt, director of the Centre for Future Economy at the New Economics Foundation, said social equality is the key to maximising the public benefit, human well-being and social value in economic development, rather than purely striving for GDP growth.
       Thailand should place less reliance on single-sector development, such as exports to a limited number of markets, he said.
       Instead, the country should re-orient exports to Asian consumers, increase value-added production and put more effort into education and skills development.
       Internally, it should focus more on domestic production and encourage stronger education and skills development, particularly among SMEs, he added.