Thailand is experiencing increased research and development interest from tech companies and is currently looking to answer this demand with more STEM graduates.
STEM, or science, technology, engineering, and mathematics subjects are becoming increasingly popular worldwide, with the rapid advancement of technological developments.
According to recent statistics, Thailand should expect to attract about two hundred billion Thai baht (THB 200 billion) worth of research and development investments only in 2019. The data also shows that such investment makes up about one percent (1.2%) of Thailand’s gross domestic product.
More STEM graduates
One of the main goals before Thailand’s government is to increase the number of students interested in STEM subjects. If the government manages to attract the majority of its higher education students towards STEM-related subjects, research and development investments will continue flowing into the country.
According to government plans, the Ministry of Education aims for at least fifty percent (50%) of all graduates by 2027 to have diplomas in STEM subjects.
Digital Valley, Thailand
Recent reports released by the Digital Economy and Society Ministry of Thailand have revealed that the country is preparing to establish a so-called Digital Valley. Much like with Silicon Valley in the United States, this will be a region with an increased focus on technology.
According to the reports, Thailand’s Internet of Things (IoT) Institute will be tasked with developing and realizing the Digital Valley project. The government’s idea is to create a hub for tech companies where they can easily collaborate and enhance each other’s research and development processes.
Technology is becoming an integral part of the global economy, and Thailand is rightful looking to develop in this area. By betting on boosting STEM education, and improving the facilities and opportunities available for tech-related research and development, the gross domestic product and Thailand’s economy will definitely become stronger.
Hopefully, the government’s plans will become a reality, as the demand for qualified STEM specialists is growing, while the supply remains insufficient.
