National

Deputy PM Yoschanan Courts US Firms for Innovation Drive

Deputy Prime Minister Yoschanan Wongwats met with executives from 23 major US companies, including Google, Boeing, and Amazon, to discuss shifting Thailand's economy toward high-value, innovation-driven production. The government emphasized moving away from low-cost labor competition and integrating Thai firms into global value chains, while US firms proposed concrete collaborations in AI, aviation, healthcare standards, and research expansion.

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Deputy Prime Minister and Minister of Higher Education, Science, Research and Innovation Yoschanan Wongwats welcomed a delegation from the US-ASEAN Business Council led by CEO Brian D. McFeeters, alongside senior executives from 23 leading US companies including Google, Boeing, Axon, Amazon, Reckitt, and Lubrizol. The November 4 meeting at the ministry focused on developing Thailand's workforce and innovation ecosystem.

Yoschanan said Thailand will no longer use cheap labor as a selling point because labor costs have risen. The new goal is to upgrade to high-value production and services driven by innovation, leveraging existing strengths. Thailand wants to be more than just an investment destination; it aims to become a genuine part of the global value chain. The key challenge is how to get Thai companies more involved in these investments.

US private-sector representatives praised the ministry's workforce development policy for meeting new industry needs and proposed several cooperation avenues:

Google highlighted its "Leave No Thais Behind" concept, focusing on AI infrastructure and online safety. Axon seeks close collaboration with Thai universities to develop technology suited to the local context, especially Thai-language AI. Boeing plans to support aviation personnel development, including pilots and maintenance technicians. Reckitt (Mead Johnson) suggested Thailand align nutrition and health claim standards with international norms to enable new R&D and innovation. Lubrizol confirmed readiness to fully expand its research and innovation base in Thailand.

The meeting was part of the USABC 2026 Thailand Business Mission, which brings US business leaders to strengthen economic ties with the new Thai government. USABC has represented US private-sector interests in ASEAN since 1984.

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