Thai Prime Minister Prayut Chan-o-cha orders the creation of a new ministry on R&D (Source: bangkokpost)
Bangkok (VNA) – Thai Prime Minister Prayut Chan-o-cha has asked for aformation of a ministry of higher education, research and development as soonas possible.
The ministry will be set up to handle the country's humanresources development to meet labour demands related to the Thailand 4.0policy, the development of 10 targeted industries that are designated to becomethe new engines of Thailand's economy, and a freshly approved 20-year nationalstrategy.
On July 3, the Thai Government approved the establishment ofthe new ministry, which comprises 11 government units related to R&D underthe Science and Technology Ministry, 84 public universities and 73 privateuniversities.
The government will set aside 97 billion baht (2.92 billionUSD) in fiscal 2019 for the new ministry's budget.
Deputy Education Minister Udom Kachintorn said that thegovernment hopes that the new ministry will be instrumental in supportingexisting high education institutes to improve their academic capabilities andsupport R&D to meet the demands of industries. The new ministry will alsoplay a vital role in tackling income disparity.
According to him, a draft bill to establish the new ministryis scheduled to be proposed to the National Legislative Assembly by November,with establishment by February next year.
Thailand’s R&D spending was 102.5 billion baht in 2017,equal to 0.75 percent of the country’s GDP, up from 0.62 percent of 2015.
The government expects Thailand's overall spending on R&Dand innovation will reach 1 percent of GDP over the next 1-2 years.
For two decades, expenditure on R&D and innovation neverexceeded 0.25 percent of GDP, until spending began to gradually increase fiveyears ago.
The government is committed under its 20-year nationalstrategy to raise R&D expenditure to 2 percent of the country's GDP by2036. The plan calls for the private sector to provide 80 percent of R&Dspending by 2036 (up from 70 percent).-VNA
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Thai Prime Minister Prayut Chan-o-cha orders the creation of a new ministry on R&D (Source: bangkokpost) 
