Sustainable Manufacturing – Thailand’s Path to a Greener Future
By Kacha Panyaroj, Country Manager for Thailand, Hexagon Manufacturing Intelligence Thailand’s manufacturing sector is at an important juncture, poised for strategic evolution. Finance Minister Pichai Chunhavajira’s recent concerns over the slowing GDP growth rate—down to 0.8% in Q2 2024—and declining export competitiveness highlight the need for a renewed focus on long-term economic growth. The manufacturing industry, which makes up 27% of Thailand’s GDP and provides jobs for over 6.26 million people, plays a crucial role in shaping this future. The government’s Thailand 4.0 initiative envisions a shift toward a high-tech, innovative economy, with emphasis on sectors like electric vehicles, smart electronics, and biotechnology. However, accelerating progress in these areas is essential to remain competitive in the region. This economic imperative aligns perfectly with our environmental commitments. With Thailand pledging to reduce greenhouse gas emissions by 30% by 2030, sustainable manufacturing emerges not just as an environmental responsibility but as a strategic necessity for our future competitiveness. The convergence of these economic and environmental imperatives presents a unique opportunity to reimagine Thailand’s industrial landscape. Why is sustainable manufacturing essential? In today’s global economy, sustainable manufacturing represents more than environmental stewardship – it’s a competitive imperative. As major economies and multinational corporations increasingly prioritise green supply chains, Thailand’s industrial sector must evolve to maintain its competitive edge while meeting our national commitment to reduce greenhouse gas emissions by 30% by 2030. A diverse industrial landscape offers compelling opportunities for this transformation. Thailand’s electronics sector, as the world’s second-largest producer of hard disk drives, stands ready for sustainable innovation. The chemicals and petrochemicals industry, contributing 5% to GDP, faces the critical challenge of reducing its environmental footprint while maintaining productivity. Perhaps most promising is our burgeoning electric vehicle sector, which aims to produce 1.2 million EVs by 2036 – a goal that perfectly […]