Will It be a Good Decision to Invest in Manufacturing Industry of Thailand?

So, Thailand’s manufacturing industry constitutes of producing a wide range of goods from electronics, automobiles and parts, textiles and garments, footwear, computers, integrated circuits, to cement. And since most of these items are for exports, they bring in huge amount of income to the country.

If you don’t know already, the country is currently the major centre for auto assembling industry in the Southeast Asia, which further creates employment and income. Investing in manufacturing sector in Thailand may be a wise decision as then not only will your company will contribute to the betterment of the Thai society (one of the criteria for incentives and tax leverages), but you will receive ample privileges from the Board of Investment.

Let’s have a look out at the major trends of Thailand’s manufacturing industry for 2020…

As Thailand is into transforming the economy into 4.0 through innovation, following are some new technologies that will seemingly have a greater impact on the manufacturing industry;

1. IoT: to handle the supply chains of the technologically-intensive smart businesses, such as automobiles, tracking patient health, electronics, retail stock and management.  This IoT uses 5G wireless technology for support.
2. Cloud: Low-cost option for corporations to be competitive in the digital era
3. 3D Printing: design and develop goods at much lower costs, particularly useful for fashion, machinery & equipment, auto parts, and electronics industries.
4. Automation of Knowledge: useful to replicate skilled human work.
5. Robotic Process Automation: help with repetitive work and manage algorithmic big data collection.
6. Blockchain: makes data storage highly secure.

Similarly, the major innovations in the manufacturing industry that are likely to happen are as follows.

• Next-generation automotive
• Robotics and automation
• Smart electronics
• Advanced agriculture and biotechnology
• Biofuels and biochemical
• Aviation and logistics

Now that you know about the approach towards the manufacturing sector, it is suggested to do your homework well before coming to a concrete decision.