The MOU Signing Ceremony between ITRI and NSTDA (Photo credit: ITRI)
A memorandum of understanding (MOU) was signed between Thailand's National Science and Technology Development Agency (NSTDA) and Taiwan’s Industrial Technology Research Institute (ITRI) on June 1. The MOU is expected to create a mutually beneficial cooperation model and an ideal opportunity for economic and trade cooperation, manpower interaction, and the sharing of resources.
The MOU will pave the way for Taiwan companies to participate in the creation of an innovation-oriented economic corridor in the eastern part of Thailand. The Thailand government has been working on a large-scale economic reform plan called Thailand 4.0, to shift the country from a production-based to a service-based economy, moving from producing commodities to innovative products, emphasising on promoting technology, creativity, and innovation in the industries under focus.
Development of the Eastern Economic Corridor (EEC) at a cost of 1.5 trillion Thai Baht (US$44 billion) is a core part of this policy initiative. The goal is to turn the eastern region of Thailand into the most advanced economic development center in ASEAN. The EEC is expected to be a hub and corridor from which Thai products will enter Myanmar and Cambodia.
ITRI Chairman Dr. Tsung-Tsong Wu believes that Thailand's current plan for integration of the supply chain for small- and medium-sized enterprises, along with enormous opportunities for entry into the Thai, Myanmar, and Cambodian markets, fits in with the Taiwan government's New Southbound Policy, which seeks to enhance cooperation and exchanges between Taiwan and 18 countries in Southeast Asia, South Asia and Australasia.
ITRI and the NSTDA are leading science and technology R&D organizations in Taiwan and Thailand, respectively. Founded in 1973, ITRI is a nonprofit R&D organisation engaging in applied research and technical service. ITRI has played a vital role in Taiwan's economic growth, supporting the economy’s shift from a labor-intensive into a value-added, innovation-driven one. NSTDA is a Thai government agency which supports research in science and technology and its application in the Thai economy.
Going forward, the two organisations will support each other with their respective expertise in science and technology. Future cooperation and interaction between the two organizations would aid the creation of an innovation-oriented industrial value chain.