News Room - Business/Economics

Posted on 25 Jan 2008

Thailand’s targeted sectors set to grow

Thailand hopes to become a leading exporter of automobiles and parts, electronics, and plastic in the Association of Southeast Asia Nations (Asean) by 2012. Thailand would produce 1.8 million units of automobile per year in 2011, 1.2 million of which would be one-ton pickup trucks.

The industry hopes to generate at least one trillion baht in revenue, of which 55% would be export income.

The export value of automotive parts in 2011 would be 400 billion baht, said Vallop Tiasiri, director of the Thailand Automotive Institute.

''We project the industry's domestic value added to exceed 70% by that year, up from 60% at present,'' he said.

In 2016, Thailand aims to become the tenth largest car producing country in the world, with capacity of 2.5 million units, Mr Vallop added.

Also, the kingdom would focus on energy-efficient electrical appliances to become the region's leading electrical and electronics producer and exporter, by 2012, said Charuek Hengrasmee, president of the Electrical and Electronics Institute.

These ''green products'' are in focus in response to the requirements of developed markets such as Europe, the United States or Japan, he said.

The country now shares accounts for only 3% of the global electronics and electrical market, he added.

As well, Thailand could become a regional leader in value-added processed plastic in Asean and China by 2012, said the Petroleum Institute.

The local plastic industry is projected to increase production volume by 5% per year from 3.42 million tonnes in 2006 to 4.58 million tonnes in 2012. Export value is targeted at 131.64 billion baht, from 74.31 billion in 2006, said executive director Pipop Pruecksamars.

The average price per unit is projected to jump from 88 baht per kilogramme in 2006 to 111 baht in 2012, he said.