Thailand urged to invest in natural product innovation

BANGKOK, December 15 (TNA) - An academic has called on local businesses to take Thailand’s rich in bio-diversity as an opportunity to position the country as a leader in natural product innovation in the 10-member Association of Southeast Asian Nations (ASEAN). Speaking in Bangkok on Friday, at a seminar organized by the National Innovation Agency (NIA), a keynote speaker and a renowned Thai economist, Kriengsak Chareonwongsak, suggested that, for Thailand to be growing in ASEAN, Thai entrepreneurs should look for niche investment, particularly in the agricultural sector; while the Thai government should stop funding non-profitable industries but looking to invest in potential businesses of the narrow niche. Kriengsak pointed out that know-how teams from aboard are required to take on more research and development (R&D) in the country in the agricultural sector, as Thailand's human resources need more advance training on R&D skills and existing natural businesses need to pay more attention to consumer protection, as well as quality and safety control.(TNA)