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DIP to push Thai cosmetics industry to top ten in the world


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DIP to push Thai cosmetics industry to top ten in the world

 

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BANGKOK, 20 September 2016 (NNT) – The government has resolved to join the private sector in driving Thailand’s cosmetics industry to reach among the world’s top ten. 

The Department of Industrial Promotion (DIP) has signed a memorandum of understanding with Thailand’s cosmetics cluster, agreeing to aid business operators in acquiring knowledge, innovations and trade information. 

DIP Director-General Pasu Loharnchun explained that the initiative was established to assist Thailand’s cosmetic businesses overcome present obstacles such as a lack of innovation, brand presence and packaging. The department is to tap experts in a variety of areas to assist cosmetics companies. The move is in line with government’s Thailand 4.0 objective, which seeks to have businesses utilize more innovations and technologies. 

The goal of the new effort is to have the cosmetics industry grow 5-10 percent annually from a current average of 200 million baht, which is 60 percent made up of domestic sales and 40 percent from foreign sales. The government is also aiming to have Thailand’s cosmetics sector become one of the top ten in the world. The sector is currently third in Asia after Japan and South Korea. 

 
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-- nnt 2016-09-20
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