Thailand to develop innovations

BANGKOK, October 6 (TNA) - The government promotes the development and production of innovative products and will soon include the policy on the national agenda in order to boost Thai exports and national competitiveness. Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, announced the move on Monday while presiding over an award presentation ceremony to mark Thailand Innovation Day 2015. Somkid stressed that there is a need for Thailand to adapt and keep pace with the global advance economic era presently through the development and production of more innovative products, instead of focusing on gaining advantages from low costs-production traditionally. Somkid suggested that local manufacturers also need to now use innovative technologies to add value for their products and to boost Thai exports. Admitting that Thailand's export growth is expected to contract 5 per cent this year caused by a global economic slowdown and internal factors, Somkid acknowledged that the government, thus, wants to include the promotion and production of innovative products on the national agenda to add value for Thai products, explaining that the promotion and development of innovative products could succeed through adjusting business models and preparations of business plans. Meanwhile, Science and Technology Minister Pichet Durongkaveroj responded that his ministry would realize the policy as national agenda by an already laid-out plan, under which his ministry's 7,000 personnel and research and development (R&D) infrastructure will be utilised to achieve the goal. (TNA)