Thailand Enhances Its Competitiveness of the Robotics,Aerospace, and Auto Industries

General Press Releases Monday June 26, 2017 10:58
Bangkok--26 Jun--BOI

Managing an economy today is not easy. But managing it for tomorrow? Now that's a real challenge. It's one that the government in Thailand is tackling head on, witha raft of new policies aimed at future-proofing its workforce and industry, particularly in the automotive, robotics, and aerospace sectors.

The measures, known collectively as Thailand 4.0, are centered on incentivizing foreign direct investment and nurturing innovation for 10 key future-focused industries. The goal is to foster an ecosystem that promotes emerging technology, innovation, and creativity within each of these sectors. The efforts range from existing areas of strength in Thailand's economy—like its automotive and electronics industries—to next generation target industries like aerospace and robotics.

Thailand 4.0 comes as part of a broader and concerted spending effort—including a huge boost in infrastructure investment. The goal here is to stoke economic growth and create new long-term opportunities, powering Thailand out of the dreaded middle income trap.

With the establishment of the ASEAN economic community, which brings together 600 million Southeast Asian people, the timing for smart investment couldn't be better. New technologies are transforming the economics and business models of tomorrow. Thailand's geographic accessibility puts it in a pole position to service this emerging block of new consumers. And at the same time, the country is integrating advanced industrial IoT technology with an increasingly robust infrastructure stack such ashigh speed rail, a massive new air hub, and improved deep-sea ports.

The newly minted Eastern Economic Corridor (EEC) will be backstopped by a minimum of $8.5 billion in state funding as a first step. Alongside its proximity to Bangkok, the EEC will bring together a mix of future-focused industry leaders, advanced higher learning institutes, spacious industrial complexes, and strategic access to ASEAN and its trading partners, all of which is expected to pave the way for increased and easier FDI.

Growing a thriving automotive sector

Today, many of the world's biggest car makers rely on Thai factories and workers to power their regional production. Attractive new enticements under the 4.0 policy promise to bring next-gen automotive industry to Thailand too, with world-class companies likeBMW already weighing fresh investments in advanced battery factories, and various other companies working on advancements in electric, solar and hydrogen car technologies.

Boosting eco-friendly production is not solely altruistic: The Thai government understands a higher-value green auto portfolio will be key not only to improving the environment, but also to future sales in a world of tightening emission standards. And building up a higher skilled workforce will also ensure top tier manufacturers continue to invest in the country.

A move towards robotics

Thailand's bold movesup the value chain in the automotive space offer a blueprint for success in other innovation heavy sectors. The robotics industry is an obvious choice, given its growth prospects and how interlinked automation is with modern auto production. According to the International Labor Organization, 60% of top tier automakers in ASEAN are currently ramping up automation. While low-skilled jobs will increasingly be replaced by more safe and consistent robotic devices, the Thai government understands there's no need to fear automation. Instead, investments and incentives are being offered to attract robotics firms, with the aim of building jobs in servicing, manufacturing, and designing these new tools.

Airlines come for the beaches… and the aircraft engineering talent

This value-leaping strategy is also evident in the aerospace sector, another key focal point of the Thailand 4.0 program. With pristine beaches and incredible food, the country is a huge draw for sun-loving foreign visitors. An increasing number of these inbound aircrafts extend their visit for a pit stop at top-notch engine and body maintenance centers. And with so much engineering talent from the automotive sector, foreign component makers are happily plowing in more money into Thai aerospace production and MRO (maintenance, repair, and overhaul). With generous new tax incentives, a proven industrial base, and a large talent pool, Thailand is on track to become a regional aerospace hub as well.

Thailand is laying the strategic groundwork for a new value-based economy. Success will rely on the strength of new ideas and a commitment to building a better tomorrow. More and more multinationals are beginning to clue in, tapping Thailand's emerging middle class of engineering and research talent to power innovation.

For more information, please contact:
Apichaya Sophonratana or
Tel. +662-553-8111 Ext. 6932

Latest Press Release


Summer time is mango time, and here at Centara Grand Hua Hin, the best-loved delicatessen The Museum invites everyone to satisfy their sweet tooth with the king of fruits in style in "Many Mangolicious Treats" this May. All May, The Museum at Centara...

PTTEP joins the Coral Reef Cleanup Activity

PTTEP supported the Coral Reef Cleanup Activity that organized by the Marine and Coastal Resources Administration Office7 (Pattani) to remove underwater trash and to protect natural and artificial coral reefs around Koh Lopi in Sai Buri District, Pattani...

The Chinese Jumbo Dim Sum Bun Promotion Dusit Princess Srinakarin Bangkok

Join us at Dusit Princess Srinakarin Bangkok to celebrate "I Love Dim Sum" season with our delightful JUMBO DIM SUM promotion, featuring 5 varieties of our top selling dim sum all in one plate, specially prepared by Chef Suthep at the HAN Chinese...

Anantara Sathorn Launches Bangkok Buffet Experience

Guests are invited to satisfy all their culinary cravings at 100ฐ East's refined buffet every weekend. Anantara Sathorn Bangkok Hotel offers distinguished guests and Bangkok residents a memorable weekend buffet dining experience at its 100ฐ East...

BEM conduct the Ceremony for the awarding art contest Happy Blue Line Again in 2019 Project

Mr. Pakapong Sirikantaramas Governor of Mass Rapid Transit Authority of Thailand is the chairman of Ceremony for the awarding art contest "Happy Blue Line Again in 2019 Project" at Central Plaza Grand Rama9. Bangkok Expressway and Metro PLC and the Mass...

Related Topics