Minister hopes to turn Thai arms industry into key economic driver
BANGKOK: Defence Minister Sutin Klungsang said he has been acting as a salesman for Thailand’s defence industry, by presenting, promoting and endorsing locally made defence products during his trips overseas.

His remark resembles those of Prime Minister Srettha Thavisin, who declared in October last year that he wants to be Thailand’s No 1 salesman, by seeking new markets and attracting more foreign investment.

Speaking to the press at the Defence Service Asia 2024 exhibition on Tuesday (May 7), the minister said the Defence Ministry must adapt to changes driven by economic forces.

“National security agencies must shift their roles from just spending state budget on defence to becoming a champion of economic strength,” he said.

The biennial defence and weaponry show was held in the Malaysian capital of Kuala Lumpur from Sunday to Tuesday.

Sutin said the defence industry had the potential to attract foreign investment, generate income and careers for locals and even surpass other economic drivers like export or agriculture.

He cited as an example the Thai Defence Industry (TDI), a joint venture established in collaboration with the ministry’s Defence Technology Institute and private operator Chaiseri Metal and Rubber Ltd.

TDI’s job is to maximise business opportunities for Thai companies under government-to-government procurement and export contracts of defence products, he said, adding that several countries only engaged in defence deals at the government level.

“The Thai government will also try to cut down the procurement of armaments from overseas and promote the manufacturing of substitutes locally,” he said.

“This shift, which will be done gradually, will also help build the reputation of government-stamped Thailand-made products in the global markets.”

Sutin added that the ministry was studying the taxation structure and other fees to help reduce the production cost for Thai defence companies. It also plans to call on the Industry Ministry to design support measures for Thai manufacturers. - The Nation/ANN
Thailand,arms,economy,defence
BANGKOK: Defence Minister Sutin Klungsang said he has been acting as a salesman for Thailand’s defence industry, by presenting, promoting and endorsing locally made defence products during his trips overseas.