FTI support BOI promoting high technology investment
Joined with JICA setting up a net work for manufacturing and supplying industrial parts
In case of natural catastrophe recurrence
Private organization supports Thailand Board of Investment (BOI) to promote investment in high technology industry, aiming for the increase of production capacity and broaden up competitive opportunity, collaborate with Japan International Cooperation Agency (JICA) setting up a net work for manufacturing and supplying industrial parts to each other in case of future natural catastrophe occur.
Mr. Payungsak Chartsutipol, Chairman of the Federation of Thai Industries (FTI) unveiled in the seminar “Direction and trend of industry development in Thailand” and “The future of industrial development after the severe inundation” held by BOI in BOI fair 2011 that the major fundamental of Thai economic needs to be improved in the field of industry, agriculture, tourism and investment. The crucial ones to be improved are agriculture and tourism which are potential to be developed in higher degree comparing to the present status.
In the field of industry, the government sector should speed up the development emphasizing on high technology implementation. Up to date, BOI is gearing up the improvement of investment promotion for next 5 years which has main focus on tuning up on promoting high technology industry which will be crucial direction to reinforce competitiveness capacity of Thai industry as well as the expansion of investment aboard.
“The promotion of investment in high technology manufacturing will contribute to the implementation of high technology in manufacturing process. Nowadays, the implementation of high technology means the high cost of manufacturing. Apart from this, we have to concentrate on the improvement of labor-skill development that should be upgraded” Mr. Payungsak said.
He added that the present volatile weather is one risk factor for Thai industry that affected on manufacturing. What private organization wants to see from the government sector is the clarity of measure and preventive criteria for managing with this kind of problem in the future. Private sector’s opinion on the situation of recent floods that if there is a quick progress of this future preventive measures and rehabilitation plans from the government side, the 2012 economic growth will be likely to expand around 5 %.
However, to prepare for that possibly problems, recently, FTI has discussed with Office of the National Economic and Social Development Board (NESDB) and Japan International Cooperation Agency (JICA) for the collaboration in building a net work of industrial sector including the centralization of helping center for industrial sector in case of the recurrence of catastrophic situations for instance flooding, earthquake and tsunami. For the preliminary, will be the collaboration between manufacturers in vehicle, auto part, electric appliance and electronics industry of both countries for supply products to each other if any of them encounter natural disaster so that the manufacturing in those industries would be able to run continuously.
