Groundbreaking Opportunities for Foreign Investors in Robotics Manufacturing In Thailand
Thailand is set to double the employment opportunities in the robotics industry by 2018. According to the International Federation of Robotics (IFR), the estimated figure is likely to be a jump from 7,500 employees to over 15,000. In fact, the IFR has estimated an increase of more than 133% of multi-purpose shipments for use in the kingdom’s fast-growing electronics industries. Also, it reports that around 2.32 million robots will be utilized this year across the globe. With estimated 41,600 robots, Thailand seems to be having the lion’s share. To achieve this soon, Thailand is presently offering good opportunities to foreign investors and incentives.
In a recent report, Thailand’s Board of Investment has stated that the foreign companies offering technology and supply chain products are showing more interest in Thailand. In fact, a whopping increase in investments in Thailand has been found.
Moreover, concerns regarding full automation have taken to robotics development. Sounds new to you? Well, initially it was for me too. Robotics is basically a concept, referring to robots that complement humans rather than replacing them. Well, the automotive and aerospace industries have already adopted this. It amuses me when I think how wonderfully new technologies allow greater operational integration between these two.
You must have seen online that KUKA Robotics, one of the esteemed members of the International Federation of Robotics has launched KR C4 controller generation in the year 2010. Significantly, it was actually the first to combine a safety controller in one system. Also, companies like CT Asia Robotic, Yutaka Robot Systems, Robosis, Eureka Automation, and Ryoei are presently developing industrial robots and automation machinery of international standards. Not only that, these are of high-quality and are competitively priced.
To take robotics industry in Thailand to new heights, the Thai government is encouraging foreign investments by offering different incentive policies. The companies are therefore getting maximum incentives up to 8 years of their corporate income tax exemption alongside a 50% CIT reduction and import duty (machinery and raw materials). Even ten years of reduction is possible when these companies collaborate with Thai local companies. So those who have been contemplating whether to invest in Thai’s robotics business ecosystem, they must start acting.
