The National Innovation Agency (NIA) has said Thailand must aim for the stars if it is to avoid the gravitational pull of the middle-income trap.
The NIA was unveiled Friday (September 16) as a launch pad for the country’s nascent space industry.
The “Space Economy: Lifting Off 2022” project enables the Thai government to achieve its goal of sending a satellite into lunar orbit within seven years, said NIA Executive Director Pun – Arj Chairatana.
The incubator will create start-ups to fill gaps in the national space industry’s supply chain, forming a platform for Thailand’s future moon mission.
See also: Thailand will launch its first mission to the moon
“Thailand currently has more than 1,000 space-related enterprises, whose total economic value exceeds 30 billion baht and whose annual growth is at least 10%,” Pun-Arj said.
The National Innovation Agency depends on the Ministry of Higher Education, Science, Research and Innovation.
The space sector is one of Thailand’s new “S-curve” industries, which brings economic and social benefits to the country.
“Promoting the development of space-related products and services is an important mechanism to stimulate the growth of other industries in the country,” the NIA chief said.
The moon mission “will make Thailand part of a $1 trillion global space industry and generate huge revenue,” he added.
Source: The Nation Thailand