Hi-tech industry sector of Thailand – one of the most booming sectors of the country

 

Thailand is said to be a growing industrialized country that is popularly known for its regional hub for various electrical things, automotive items, electrical appliances, electrical gadgets, various types of processed foods, and so on. The country has also received recognition for being a manufacturing center for original hi-tech equipment. Presently their manufacturing products are imported to various regions of the country.

In fact, you will be surprised to know that the country is said to be the biggest producer of automotive items in Southeast Asia, and therefore, it can rightly be said that the country has achieved impressive growth, especially in the hi-tech industry sector. In respect of manufacturing and exporting hard disk devices, the country has secured 2nd biggest position in the entire world.

Not only this, to talk about producing air-conditioners and refrigerators, Thailand is the 2nd country which provides maximum number of air-conditioners and refrigerators like home electrical appliances per year. The production of such items has increased up to 60% from the last two years.

For the time being, natural diversity and the growing agricultural production has provided the country the advantage to produce processed food items. For all these development in diverse sectors, Thailand has achieved a successive rate of economic development over the years. This has also lifted the country’s upper-middle-income by almost 20% which is truly impressive.

One of the progressive industrialization programs taken by the government of Thailand is the development of seaboard, which has further followed the detection of natural gas resources mainly in the gulf sector of Thailand.

The main component of this plan is the inclusion of the construction of Ta Phut industrial estate in Thailand, which mainly focuses of the development of chemical industries. The export venture of hi-tech products has significantly increased over the years. In the year 2015, the hi-tech export goods increased by 21.4 percent of the country. The country is continuously struggling to produce more hi-tech items using advanced technology.

To keep the pace of changing global requirements, Thailand has taken severe steps in manufacturing hi-tech products using more advanced technology embedded with various elements in order to keep its industrial pace intact. The government of Thailand has launched a policy called 4.0, which will take the initiative to free the country from its so-called middle-income snare.

This industrial policy 4.0 aims at bringing new technology to the forefront, which will initiate the economic growth of the country. The plan has put emphasis to build almost 10 industries, which have again been divided into two important segments.

First, to bring enormous development in the existing industries of the country through evolving advanced mode technologies and producing various electronic items such as smart electrical products, next-generation electrical goods, and automotive products, Wellness Tourism, and affluent medical things.

Second, to bring development in five types of existing industries, which will further accelerate the future growth of Thailand in various sectors such as logistics and aviation, robotics and automation, bio-chemicals and biofuels, etc. In order to support the industrial policy of the country, the government of Thailand has developed a new hub, which is named as Eastern Economic corridor, which mainly covers three provinces of Thailand, such as Chonburi, Rayong, and Chachoengsao.

The Thai government has aimed at bringing area-based development, which will create a boom in the industrial sector. With all such plans, it is believed that Thailand will soon become a leading global performer in the hi-tech industry sector.

As per the statistics, it is observed that the country has achieved significant growth in the fields of electronics, automotive, and petrochemical items. The hi-tech sector of the country will not bring advanced technology in manufacturing products, but also it will bring efficient and modern infrastructure to the country such as airports, highways, rail, seaports, and industrial estates, and so on.

The President of National Research, Science, and Higher education council has taken severe steps in implementing various technical plans which help people to become technically sound. He believes that his policies will be considered as important pieces for solving jigsaw puzzles. It is a strong effort to make the workers more efficient in using hi-tech machinery and equipment both in the agricultural and industrial sectors. The project or policy 4.0 aims at gearing the nation to march towards an industrial revolution which mainly focuses on high-level services and advanced technology. This project has been adopted by the government in the year 2015.

The chief member of the committee said that in order to understand the value of technology on economic development, the people of the country must acquaint themselves with better learning capacities about innovations and technological experiments at workplaces or the internet. In fact, the government of Thailand is mainly focusing on those workers who work in the agricultural sector.

The reason behind this is that the economy of Thailand greatly depends on farming as well, and therefore, the workers who work in this sector sometimes find it difficult to meet the market requirements, and as a result,, they become trapped in the poverty cycle. To reduce the level of poverty in the nation, technological advancement is highly required.

As it has already been mentioned that an innovation hub has been established by the government of Thailand, the government has made this plan in order to make highly-skilled workers who can efficiently use hi-tech items in both farming and industrial sectors. This will not only make them industrially sound but also promote entrepreneurship among the youth, which will increase the number of start-up companies all over the country.

Hi-tech innovation in the food sector

Thailand has shown remarkable growth in the food industry. With government support and advanced technology, the workers are producing the highest quality processed food items, mainly the highest level of safety and hygiene across the country.

Today, Thailand has become one of the largest food exporters in the entire world in respect of exporting high-quality rice, pineapples, various types of processed food products, cassava to its key partners like Japan, Europe, the United States, Canada and so on.

Thailand has set an example for the entire world on how quickly it can adapt to the latest technology and innovation. In fact, it is the first Southwest Asian country that has adopted biotechnology in the agricultural sector.

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Andy Aditya

As Business Startup Specialist, Andy is often hired as a Virtual Director/Consultant to assist Business Owners in Thailand. For total business information and consulting for doing business in Thailand - Pls check - startupinthailand.com