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Prime Minister Yingluck Shinawatra confirmed in a statement presented at the 50th Anniversary of the Thai Cosmetic Industry that the government will support research and development of local cosmetics industry.
"The government must respond to the need for updated technology in this market if we are to be competitive especially with the establishment of the AEC in 2015" said Yingluck. "Under the theme "Building the Thai Future 2020" we will make and encourage investment in order to help strengthen local SMEs which make up 97 percent of the local cosmetic industry".
The PM stressed again the Thai government push to upgrade the local economy to move up the "value chain" thus increasing the competitiveness of SMEs and the One Tambon One Product (OTOP) programme. However, in order to be successful it is necessary that the cosmetic production process meets international accepted standards. This is where research and development come into play said Yingluck.
Yingluck cited the need for local research agencies working on cosmetics related projects to work together with the local cosmetic industry to better understand the need of both the industry and of the consumer both for domestic and overseas market.
Representatives from the Nano Cosmeceutical Laboratory of NANOTEC attending the event said the new Good Management Practice (GMP) Laboratory which is to begin operation in 2014 should help to leap frog development initiatives that are dependable and reliable while meeting the needs of the industry. Prof. Sirirurg Songsivilai, Executive Director of NANOTEC said that his agency is already working with local companies in areas related to using nanotechnology for encapsulation and coating of organic formulas for effective and safe absorption.
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