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Thailand: R&D spending poised to drop to B166bn in 2020
Thailand’s R&D spending is expected to drop to 166 billion baht, or 1.09% of GDP this year, weighed down by the impact of the coronavirus pandemic, says the Office of National Higher Education Science Research and Innovation Policy Council (NXPO).
Last year’s R&D spending is still under assessment but is estimated to reach 200 billion baht, or 1.21% of GDP.
NXPO director Kitipong Promwong said the pandemic is affecting private sector investment in R&D this year, decreasing total R&D spending in the country. He said even though spending has been increasing since 2011, the recent crisis is taking a toll on social, economic and educational fields, and would undoubtedly affect R&D investment.
However, NXPO expects R&D spending to recover in 2021 and reach 1.23% of GDP, still lower than the previous projection of 1.5% before the pandemic took hold.
The agency believes R&D spending is on track to reach the goal of 2% of GDP by 2027.
“Covid-19 will impact R&D investment by the private sector in the short term, but in the long run they need to scale up their competitiveness through the investment in R&D and innovation, which could address their pain points,” said Mr Kitipong.
The future R&D landscape should focus on improving human security, society and the environment, creation of local prosperity, mobilisation of the bio, circular and green economies for sustainable growth, innovation-driven restructuring of the industrial and service sectors, as well as support of science and innovation for the country’s development, he said. Research projects pushed by the National Science and Technology Development Agency include smart farmers, food with functional ingredients, ethanol fuel cells for vehicle applications and food waste reduction through supply chain in plants and animals.
Source: https://www.bangkokpost.com/business/1943228/rd-spending-poised-to-drop-to-b166bn-in-2020