Additional Benefits for New S-Curve Industries
8 May 2020
Although the Thai government has introduced measures to promote investment in 12 new target industries (S-curve), including medical devices and medical robotics industry, Thailand can benefit even more from the trade war between China and the US, conditionally offering additional benefits to attract foreign investment. As a result, the Minister of Industry ordered the Office of Industrial Economics (OIE) to review and suggest additional benefit packages for foreign investment in the target industries, especially investment in the Eastern Special Development Zone (EEC).
Recently, the Minister of Industry has assigned the OIE to study the possibility of upgrading labor skills to the new industry standard through the National Re-Skill Platform, as well as connecting labor data into a big data system. These benefit packages were, for example, rental price reductions and certification of workers’ skills, which will help entrepreneurs gain easier access to loans in the future. OIE also pushed forward the use of artificial intelligence industry system to support integrated services from the government. The new system should help increase service efficiency and speed, reduce costs and redundancy in data collection by various government departments. Thus, it would help facilitate companies in all industry through digital technology and link them with partners as well as global production networks.
Reference
EEC. (2019). "The government pushed forward the S-curve Industry and attracted foreign investment to connect with international production networks EEC."https://www.eeco.or.th/pr/news/IndustryMinisterOfficeOfIndustrialEconomicsSCurve.
Prachachat Business. (2019). "Supporting the S-curve industry, overhaul new investment, 'benefit packages'." https://www.prachachat.net/economy/news-359562.
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