Home Business Industry Minister recommends increasing productivity to support competition – Thai MCOT News Agency

Industry Minister recommends increasing productivity to support competition – Thai MCOT News Agency

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Bangkok, May 30 – FTI reveals productivity, total production of Thailand is still strong. Suggesting to increase productivity, production drives 5 key mechanisms to support competition

Mr. Suriya Chuengroongruangkit The Minister of Industry revealed that Thailand has made the increase of the country’s productivity a priority. Under the 20-year National Strategy (2018-2037), NESDB has studied the Total Factor Productivity (TFP) of the manufacturing sector annually. From the form to report business operation information, Ror Ngor. 9, to analyze the capabilities In the production and transformation of the industrial structure The results of the study showed that in the past three years (2017 -2020), the average Total Factor Productivity (TFP) increased by 1.45% per year, which is higher than the average gross industrial product. Up 0.93 percent per year, reflecting that Productivity at higher growth is strong and is a key driver of industrial growth. In particular, the qualitative factors are the key immunity of the manufacturing sector to continue to grow. In spite of having to face severe economic and social fluctuations, more competition in terms of exports And attracting foreign investment The rapid change in technology Including labor restrictions

Suriya added that In order to overcome uncontrollable situations such as global economic conditions, epidemics, or various forms of international war, Thailand needs to continue to strengthen its efficiency and quality. There are 5 important mechanisms to drive to maintain production competitiveness. 1. Development of labor skills 2. Automatic / semi-automatic machines 3. Cost and financial management 4. Enhancement of labor skills. Production to a production model, contract design, product and product development (ODM), and product and product development design under the operator’s brand (OBM) that help create higher value and 5. Investment in technology and Research and development to increase efficiency in production process, manage and create product innovation. Copyright is registered Or various patents that will lead to commercial production are considered to create very high added value to the products and the country’s economy – Thai News Agency

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