FTI produces strategies in support of industries and businesses

BANGKOK (NNT) - The Federation of Thai Industries (FTI) has laid down 6 strategies to support industries and businesses, with a focus being placed on surviving and thriving on opportunities created by the shift toward digital technology.

FTI chairman Supant Mongkolsuthree inaugurated the GS1 Thailand Annual Meeting 2021, which was held under the theme of “Stay-at-Home Economy,” and gave a special lecture on the topic of “Business Survivability Amidst COVID-19.” He explained during the lecture that technological shifts were made toward AI, VR, Big Data, Blockchain, and 5G in light of COVID-19, and businesses needed to determine which of these technologies suited their operations and take the initiative to utilize the chosen technology and relevant innovations to reduce costs and improve productivity.

GS1 Thailand operates under the FTI as a leading provider of barcodes and EPC/RFID standards and solutions for industry sectors in Thailand.

The FTI has laid out 6 strategies to service federation members. In the aspect of marketing, the FTI would facilitate business matchings, e-commerce adoption, and projects for made-in-Thailand products. In the dimension of finance, the FTI was collaborating with banks to offer various services to members and was also working with the Stock Exchange of Thailand to enable small businesses to raise capital in the ‘LiVE Exchange’ market. With regard to innovation, an ‘innovations fund’ had been established to promote the use of innovations to create added value.

The 4th strategy involved learning centers that provide knowledge to personnel in the industrial sector and facilitate re-skilling and up-skilling for employees – there were about 80 specific curricula on offer at the moment. The 5th strategy called for improving efficiency and standards at businesses through digital transformation, and the 6th strategy involved the promotion of sustainability in the industrial sector.