Thailand’s National Science and Technology Development Agency (NSTDA) says it will spend up to 6 billion baht (US$2 million) this year to develop science and technology projects catering to economic and social improvement as well as further the development of government's initiatives in the Bio-Circular-Green (BCG) economy.
The government had previously priortised BCG as an important pillar in its national development agenda alongside Thailand 4.0 initiatives.
"We will continue to use innovation, science and technology to add more value in real sectors, particularly agriculture and food, as well as support for people's participation," said Narong Sirilertworakul, president of the NSTDA.
Thailand is developing Rayong as a new innovation hub for science and technology
Half of the sum will go to the Eastern Economic Corridor of Innovation (EECI) project, a new innovation hub in Rayong, the construction of which is 65% complete. The hub will be home to various facilities, such as biorefinery and smart manufacturing testing centres.
Narong added that NSTDA will leverage science and technology to combat Covid-19, ranging from measures to prevent contraction and support treatment.
In 2020, research and technology development by the NSTDA generated 66.5 billion baht (US$22.2 million) in economic and social impact.
