![\"\"](\"https:\/\/www.nxpo.or.th\/th\/wp-content\/uploads\/2021\/06\/Slide2-1024x576.jpg\")
<\/figure><\/div>\n\n\n\nThe top-spending industrial sectors were (1) food industry at 32.321 billion THB spending on infrastructure for food innovation, R&D in waste minimization and utilization, as well as product development; (2) petrochemical industry at 11.958 billion THB investing in product and process improvement, scale-up process, cost reduction and lateral expansion; and (3) finance and insurance at 11.579 billion THB allocating to mobile banking platform, cybersecurity and new business opportunity. <\/p>\n\n\n\n
The total number of R&D personnel\u00a0in full-time equivalent\u00a0was 166,788\u00a0in 2019 or 25\u00a0per 10,000 people, a 4.6% jump from the previous year. The goal is to\u00a0raise this number to\u00a040 by\u00a02027.\u00a0The proportion of R&D personnel in the public to the private sector was 69:31.\u00a0<\/p>\n\n\n\n
![\"\"](\"https:\/\/www.nxpo.or.th\/th\/wp-content\/uploads\/2021\/06\/Slide3-1024x576.jpg\")
<\/figure><\/div>\n\n\n\nThe COVID-19 pandemic will continue to cause enormous impact to the global economy. Enterprises will cut down expenses to save their businesses and among them are R&D expenses. Thailand\u2019s GERD is expected to take a big hit from 2020 to 2022, falling below 1% GDP, and started to rise afterward. GERD is predicted to be 0.91%, 0.94% and 0.96% of GDP for 2020, 2021 and 2022, respectively. Without any new measures to boost R&D investment in the private sector, GERD is expected to reach 1.46% of GDP in 2027, missing the 2% target. <\/p>\n\n\n\n
![\"\"](\"https:\/\/www.nxpo.or.th\/th\/wp-content\/uploads\/2021\/06\/Slide4-1024x576.jpg\")
<\/figure><\/div>\n\n\n\nMechanisms that will drive the R&D investment include 1) various types of funds such as the Science, Research and Innovation Fund, the Higher Education Fund and the Competitiveness Enhancement Fund for Target Industries; 2) tax incentives such as 200% tax deduction on donation an enterprise made to Innovation Fund for SMEs; and 3) unlocking barriers to innovation businesses such as allowing a public fund to match enterprise R&D investment. <\/p>\n\n\n\n
Among public policies that promote enterprise R&D are 1) developing an innovation ecosystem with measures such as issuing tax incentives; 2) HR policy giving flexibility to university staff to spend time working in partner companies; 3) finance policy to attract enterprise investment through a matching fund program; 4) investment made in research and innovation infrastructure to serve the private sector; 5) easing regulations such as streamlining certification processes; and 6) a support center for SMEs to provide assistance and coaching on access to market and investment. <\/p>\n\n\n\n
Public R&D investment will focus on, in addition to research grant, supporting accessible innovations and SMEs, as well as encouraging market-driven research and innovation businesses through Thai Bayh Dole Act. <\/p>\n\n\n\n
NXPO President concluded that R&D investment is the key to lead Thailand out of the middle-income trap, reduce social inequality, alleviate poverty and create social and environmental sustainability. He expressed confidence that the target 2% GERD will be achieved with the current and new measures in the planning. <\/p>\n","protected":false},"excerpt":{"rendered":"
NXPO President Dr.\u00a0Kitipong\u00a0Promwong\u00a0recently\u00a0revealed […]<\/p>\n","protected":false},"author":1,"featured_media":7986,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[30],"tags":[],"class_list":["post-7981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"featured_image_src":"https:\/\/www.nxpo.or.th\/th\/wp-content\/uploads\/2021\/06\/Slide4.jpg","author_info":{"display_name":"admin","author_link":"https:\/\/www.nxpo.or.th\/th\/author\/adminsti\/"},"jetpack_featured_media_url":"https:\/\/www.nxpo.or.th\/th\/wp-content\/uploads\/2021\/06\/Slide4.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/posts\/7981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/comments?post=7981"}],"version-history":[{"count":1,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/posts\/7981\/revisions"}],"predecessor-version":[{"id":7988,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/posts\/7981\/revisions\/7988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/media\/7986"}],"wp:attachment":[{"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/media?parent=7981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/categories?post=7981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/tags?post=7981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}