Page 36 - Introduction to Investment Laws in Thailand
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according to the sufficiency economy philosophy with the ultimate goal
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                to provide Thai people's well-being.



























                    Source: OSMEP, 2021, 20-Year National Strategy (2017-2036),
                    <https://www.sme.go.th/en/page.php?modulekey=378>

                    In addition, Thailand also set the  Twelfth National Economic and
                Social Plan (2017-2021), which links with the 20 years strategic plan. The
                Twelfth National Economic and Social Plan stipulated clear economic,
                social and environmental targets that have to be achieved within the five
                years.   The five-year plan targets research and innovation development
                under a bio-circular economy with sustainable development goals. With
                the plan, the government encourages growth and industrial development
                                              40
                with sustainability for the people.  With the 20 years strategic plan and
                five-year national development plan, the government will keep its policy

                39  OSMEP, 2021, 20-Year National Strategy (2017-2036),
                <https://www.sme.go.th/en/page.php?modulekey=378>
                40 NESDC, 2021, Summary-National Economic and Social Development Plan
                No. 12 (2017-2021),
                <https://www.nesdc.go.th/ewt_news.php?nid=6420&filename=develop_issue>


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