PUBLISHED: 3 Mar 2025 at 04: 30
To keep up with the United States and China’s technologically advanced globalization, authorities say Thailand needs better laws and more funding for science and innovation.
A conference titled” Trump 2.0: Crisis or Opportunity for Thailand’s Science, Research, and Innovation areas” was held. was held late to explore how Donald Trump’s administration might impact Thailand’s advancement in these highly specialized industries and how Thailand could prepare.
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The transfer of US President Donald Trump has altered the course of globalization, according to Bank Ngamarunchot, chairman of the Science Technology and Innovation Policy Institute at King Mongkut’s University of Technology Thonburi.
The United States is today putting more emphasis on self-reliance and business discrimination, urging foreign companies to relocate their domestic production facilities and enacting mercantilist trade laws.
By 2028, the Trump administration has committed to spend a total of$ 700 billion in artificial intelligence to strengthen its position within the world’s technology and innovation supply chain.
According to Mr. Bank, Mr. Trump’s actions on mercantilist industry and AI will have an impact on Thailand’s economic outlook. This could cause issues for Thai products entering the US market and Thai goods getting access to foreign systems.
However, Thai manufacturers will face fierce price competition from Chinese manufacturers who may compete for products from the US and instead will be forced to export to Thailand and Asean.
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According to Arm Tungnirun, a member of the National Commission on Science, Research, and Innovation Promotion ( CSRP ), this circumstance may also open the door for Thailand to welcome foreign investors who relocate their manufacturing facilities from China to Thailand.
Mr. Arm said Thailand needs to effectively increase investment in R&, D, focusing on areas where Thailand has the greatest possible as it competes on the international stage, to benefit from the situation and be able to thrive effectively.
Precision crops technology, bright tourism platforms, health hospitality, and biotechnology are just a few examples.
To ensure that research and development really meet the needs of the business industry, he said, the government should establish mechanisms to encourage included cooperation between the public, secret, and academic sectors.
” The country likewise needs an investment-friendly environment, with archaic laws amended, young companies supported, and help for companies that spend on new technologies,” said Mr. Arm.
In addition, the government should expand the development of STEM, a vital skill required in the modern era.