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Thailand invests $153 million to boost industrial competitiveness

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  Published in Sports and Competition on Thursday, November 6th 2025 at 3:29 GMT by reuters.com
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Thailand earmarks 153 million baht to turbo‑charge industrial competitiveness

In a move that signals the Thai government’s renewed focus on high‑growth, technology‑driven manufacturing, the Ministry of Industry announced on 6 November 2025 that it will invest 153 million baht (roughly US $4.7 million) in a new Industrial Competitiveness Enhancement Program (ICEP). The initiative, launched through a joint effort between the Thai Industrial Development Board (TIDB) and the Board of Investment (BOI), is designed to give a strategic boost to the country’s manufacturing sector, sharpen productivity, and help Thai firms stay ahead of rivals in Asia and beyond.

Why 153 million baht?

The figure represents the first tranche of a larger, multi‑year commitment to upgrade Thailand’s industrial base. 153 million baht will be earmarked for a mix of “hard” and “soft” investments: upgrading existing industrial parks with high‑speed broadband and power infrastructure, providing tax incentives for small and medium‑sized enterprises (SMEs) that adopt smart‑factory technologies, and funding research‑and‑development (R&D) collaborations between Thai universities and private firms. The investment will be administered by the TIDB, a state‑owned agency that coordinates industrial policy, and will be monitored by the BOI, which oversees foreign and domestic investment projects.

Key pillars of ICEP

1. Digital transformation – The program will subsidise the installation of Internet‑of‑Things (IoT) sensors, AI‑based predictive maintenance, and cloud‑computing platforms in production lines. The Ministry of Digital Economy and Society will provide a technical framework and standards, ensuring that the digitalisation drive aligns with Thailand 4.0.

2. Green manufacturing – 50 % of the subsidy will target firms that switch to low‑carbon processes or adopt renewable energy sources. The Thai Ministry of Natural Resources and Environment will issue guidelines to ensure compliance with the country’s emissions targets.

3. Supply‑chain resilience – ICEP will help companies diversify suppliers and strengthen logistics networks. The program will fund pilot projects to test blockchain‑based traceability systems, making Thailand’s industrial supply chains more transparent and secure.

4. Talent development – 10 % of the funds will be directed to vocational training and partnership programmes between industry and technical colleges. The initiative will launch “Industrial Innovation Labs” in selected provinces, offering hands‑on training for the next generation of engineers.

Strategic context

Thailand’s industrial policy has historically relied on export‑oriented manufacturing, especially in the automotive, electronics, and agricultural sectors. In recent years, however, the country has faced increasing pressure from China’s Belt and Road Initiative, Japan’s high‑tech exports, and South Korea’s automotive supply chains. The ICEP is intended to help Thailand maintain a competitive edge by encouraging higher value‑added production and by closing the productivity gap that the World Economic Forum’s Global Competitiveness Index (GCI) highlights.

According to the GCI, Thailand ranked 29th in 2024, behind Malaysia, Vietnam, and Singapore. The government’s new initiative is a direct response to the GCI’s call for higher productivity, better infrastructure, and a more skilled workforce.

Official remarks

“We are committed to turning Thailand into a leading high‑tech manufacturing hub,” said Minister Surapong Chaisirichai during the announcement. “This investment will catalyse the adoption of smart‑factory technologies and green manufacturing practices across our industrial clusters.” Surapong referenced a partnership with the National Electronics and Computer Technology Development Agency (NECTDA), which will jointly develop digital tools for SMEs.

“The Board of Investment welcomes the Ministry’s commitment,” added Mr. Anusorn Petchkul, Director General of the BOI. “Our shared goal is to make Thailand an attractive destination for foreign investors seeking a robust, future‑proof industrial ecosystem.”

Looking ahead

The 153 million baht tranche is the first of a planned total of 500 million baht to be spread over the next five years. The TIDB will publish quarterly progress reports, detailing how much funding has been disbursed, the number of firms supported, and productivity gains achieved. The Ministry also plans to conduct a mid‑term audit in 2027, comparing ICEP’s outcomes against baseline indicators set in the 2025 National Economic and Social Development Plan (NESDP) 2026‑2030.

In the broader policy landscape, ICEP complements the Thailand 4.0 strategy, a national roadmap that aims to transform the country into a high‑income, technology‑driven economy by 2036. The Ministry’s decision to allocate a dedicated fund signals a shift from broad, infrastructure‑heavy investment toward targeted, technology‑centric support for industry.

Links for deeper exploration

• Thai Industrial Development Board (TIDB) – https://www.tidb.go.th
• Board of Investment (BOI) – https://www.boi.go.th
• Ministry of Industry – https://www.moi.go.th
• Thailand 4.0 Initiative – https://www.thailand4.0.go.th
• World Economic Forum Global Competitiveness Index – https://www.weforum.org/reports/global-competitiveness-report-2024

The 153 million baht investment, while modest in absolute terms, represents a strategic pivot toward smart, green, and resilient industrialisation. By coupling financial incentives with digital infrastructure, workforce development, and supply‑chain innovation, Thailand hopes to secure a stronger position in the region’s rapidly evolving industrial landscape.