Thailand’s farm and food industry has been constantly incorporating new innovations in an effort to meet the increasingly sophisticated demands of a global market that is becoming swamped with virtually endless options. Staying ahead of the game in this hugely competitive environment requires access to a wide diversity of raw materials on vast agricultural plantations and a well-developed supply chain. Leveraging advancements in digitalization and utilizing deep technology such as 3D printing, AI and big data, the Thai agri-food industry is also producing foods that align with mainstream intelligence technology as well as addressing environmental concerns.
Food for Future Development
The global popularity of Thai tourism and culture alongside the quality of its food and farm products have contributed to “made-in-Thailand” products resonating uniqueness and quality in the global market. With a skilled workforce and an agricultural sector derived from a culture deeply rooted in agricultural wisdoms and the well-established supply chain, Thailand has successfully developed its food industry to become the world’s 11th largest food exporter in 2019, placing it second only to China in Asia.
The Thai government is currently implementing a medium-term plan to develop the Thai food industry extensively with the goal of adding economic value to local food and farm products for local economic development as well as establishing Thailand among the world’s top ten largest food exporters. Thailand’s effort will also fulfill its role in helping address food insecurity in some countries as exposed by the COVID-19 pandemic.
BOI Promoting Agri-Food Technology
The Thailand Board of Investment has introduced tax incentives throughout the supply chain of the agri-food businesses, with a special focus on technology in the form of R&D, productivity enhancement, Agri-tech, hightechnology quality testing, plant factories and sustainability certification.
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Check out the latest BOI’s Thailand Investment Review (TIR) “Making Future Food in Thailand”