Cabinet greenlights technology and innovation budget

Thailand’s cabinet has approved a budget of THB24.6 billion (US$808 million) to support research and innovation to transition the country into a fully-fledged technology-based society, according to the National Higher Education, Science, Research and Innovation Policy Council, reports the Bangkok Post.

The fund, drawn from the current fiscal year budget, will finance projects to realise the goals of achieving a technology-based society. The money will go towards developing manpower and institutions, undertaking research and creating innovations to solve major problems in the country, commissioning research and innovations to increase the country's competitiveness and reducing social disparities, according to the council director, Kittipong Promwong.

He explained the goals can strengthen the country through programmes such as the so-called ‘BCG in Action’ programme, which stands for a bio, circular and green economy. He added that the government has a policy to produce quality researchers by injecting funds into tertiary institutions as well as scientific research and innovations. He said that in the next three years, the government plans to increase the number of university graduates in STEM (science, technology, engineering and mathematics) faculties to 40% of all graduates in a year, up from the current rate of 34%.
Full report on The Bangkok Post site