A previous phase approved 42 projects under Skill Bridge with total funding of 2.03 billion baht and workforce development plans for 76,728 people, bringing the total number of people covered by workforce development plans to more than 80,000.
Workforce development projects are assessed in terms of curriculum standards, alignment with the needs of the industrial sector, the expertise of trainers and readiness to provide training.
The goal is to ensure the skills can be put to practical use in industry, helping Thai workers qualify for jobs requiring higher levels of skills and offering greater value, said Ms Lalida.
The challenge for the government is not simply how to attract more investment to the country, but also how to ensure such investment creates more opportunities for Thai businesses and people, she said.
The government needs to accelerate efforts to help Thai entrepreneurs gain access to artificial intelligence (AI), automated systems, R and D and new technologies, while developing workers with skills that match the needs of industry, said Ms Lalida. This effort will ensure that when new industries grow in Thailand, Thai businesses can become integrated into their supply chains and capture a greater share of the benefits generated by that growth, she noted.
“The government aims to promote investment while strengthening the economy, including upgrading the technology used by Thai companies, developing the workforce, increasing domestic procurement and facilitating knowledge transfer,” said Ms Lalida.
“The goal is to ensure Thailand is not merely a destination for investment, but also has Thai businesses and workers capable of growing and creating greater value alongside the industries of the future.”
The Competitiveness Enhancement Fund also provided financial support for business transformation, recently approving funding for 48 projects with a total investment of 3.54 billion baht, including 1.66 billion baht from the fund.
The projects cover R and D, improving business efficiency through modern technologies, adopting automation, digital technologies and AI, as well as transitions into new and green industries.
The goal of the scheme is to ensure Thai entrepreneurs have sufficient technology and productivity to grow alongside the industries of the future, she noted.
Some 66 projects received support for business transformation, representing total investment of 5.80 billion baht, with 2.79 billion baht allocated from the fund.
The Board of Investment, which oversees the National Competitiveness Enhancement Fund, estimates all of these projects will increase participating businesses’ revenue by 3.90 billion baht per year, bolstering domestic procurement of raw materials, components and services by more than 7.10 billion baht annually.
The benefits of investment should not be confined to the companies receiving investment promotion, but also extend to Thai component manufacturers, suppliers and service businesses throughout the supply chain, said Ms Lalida.