Moon mission to help Thailand blast out of middle-income trap
Thailand must reach for the stars if it wants to escape the gravitational pull of the middle-income trap. That was the message of the National Innovation Agency (NIA) on Friday as it unveiled a launchpad for the country’s fledgling space industry.
The "Space Economy: Lifting Off 2022" start-up incubator will help the Thai government achieve its target of sending a satellite into moon orbit within seven years, said NIA executive director Pun-Arj Chairatana. The incubator will create start-ups to fill gaps in the domestic space industry’s supply chain, forming a platform for Thailand’s moon shot.
"Thailand currently has more than 1,000 space-related businesses with total economic value of more than 30 billion baht and growth of at least 10 per cent annually," said Pun-Arj, whose agency comes under the Ministry of Higher Education Science Research and Innovation.
The space business is among Thailand's new “S curve” industries, which have both economic and social benefits for the country.
"Promoting the development of space-related products and services is an important mechanism to boost growth of the country's other industries,” the NIA chief said.
The moon mission "will see Thailand become part of a global space industry worth US$1 trillion and will generate enormous revenue", he added.
