Page 17 - FDI Alliance International Magazine Summer 2020 Digital Interactive Issue

supply chains, not necessarily the lowest costs,” states Secretary General
Manufacturers are modifying existing lines to produce medical Asawachintachit.
devices and supplies to be used in the fight against the virus. For
example, some textiles companies are now manufacturing Thailand’s location in Southeast Asia not only provides access to the rest
high-level surgical gowns. of Asia but also the rest of the world. This location plays a key factor in
companies’ strategies, particularly as they target other Asian countries;
up infrastructure to support the industry, which includes additional testing Thailand is home to many multinational companies, notes Secretary
labs and calibration centers. General Asawachintachit.
The Secretary General also points out the country’s supply chain in the She points out there are several factors companies evaluate when making
biobased industry in relation to advantages for the medical sector. Access to location decisions, beyond evaluating how the pandemic was handled.
raw materials is critical, and the country is a major producer of agricultural For example, executives are looking for cost-effective labor costs. Business
produces serving as feedstock for numerous industries and applications. For leaders are also looking for superior physical infrastructure, and a
instance, Thailand is a major producer of bio-based products ranging from commitment on the part of leadership to continue making investments into
rubber gloves to lactic and polylactic acid used for bioplastics. these assets.
Thailand is actively enhancing the eastern region of the country through the
An additional supply chain asset is Thailand’s outstanding safety controls,
particularly in food production; the country is one of the world’s few net Eastern Economic Corridor initiative. The country’s eastern region houses
food exporters. key industries and the government intends to take this region’s infrastructure
to the next level. The country is investing in high-speed rail linking three
Secretary General Asawachintachit says the country’s medical sector airports and will expand an airport and seaports in the region as well. At the
companies are developing solutions and product innovations to assist in same time, says the secretary general, the country is also ramping up the
overcoming COVID-19-related challenges. Manufacturers are modifying human resources in this area of the country to support business investments.
existing lines to produce medical devices and supplies to be used in Thailand’s officials are quite optimistic about the growth of the medical
the fight against the virus. One company that makes diving suits is now sector and leveraging the country’s position as an industry hub. Thailand
manufacturing high-level surgical gowns. has a plan in place and companies are taking notice.

→ Collaborations are escalating For more information about conducting business in Thailand, visit the Board
of Investment at www.boi.go.th. and www.thinkasiainvestthailand.com
Collaborations are the glue behind any thriving industry cluster. “Our leading
medical schools and private companies formed a company called Thailand
Clinical Research Enterprises,” notes the secretary general. Another asset is
Genomics Thailand, a collaborative human genome research network. The
organization is working on a precision medicine program to study genetic
factors that influence a person’s susceptibility to specific diseases, according
to www.genomicsthailand.com.

The thriving medical sector also fosters collaborations between private
industries and the country’s higher education system and research institutions.
Recent approved projects include the manufacture of COVID-19 test kits
and bioreagents to be used in COVID-19 test kits, says Secretary General RACHEL DURAN
Asawachintachit. Rachel Duran is a remote-based writer, editor and content manager living
in Lawrence, Kansas. Duran was formerly the editor in chief of Business
→ Infrastructure enhancements foster optimism Xpansion Journal, a site selection and economic development online and
The country’s economic development leaders understand all too well that print publication. She was simultaneously the editor in chief of its sister
COVID-19 will be with us for some time. As such, leaders, including the publication, Global Corporate Xpansion.
BOI, are further enhancing the security of the nation’s already robust supply
chain to ensure an even greater level of continuity for investors. The country
is home to well-established supply chains for sectors such as automotive, raduran@rad-writer.com 785-760-2830
electronics and petrochemicals. “Companies are looking for resilient

17. FDI ALLIANCE INTERNATIONAL