10-year visa to attract engineers and IT experts, boost technology development

The 10-year visa scheme for wealthy foreigners and highly-skilled professionals is expected to attract engineers and IT experts, potentially boosting technology development in Thailand as the country anticipates a shortage of digital workforce over the next few years.

The long-stay visa scheme was approved in principle by the Thai Cabinet last month, targeting foreign investors, highly-skilled professionals and wealthy retirees in a bid to boost the economy. Chairperson of the Federation of Thai Industries, Supant Mongkolsuthree, told the Bangkok Post that engineers and IT experts should be given priority when applying for the new long-stay visa scheme.

“Engineers and IT experts, along with other skilled professionals and wealthy people, should be given first priority to receive the visas. We believe they can help support the Thai economy.”

When it comes to an anticipated shortage of an estimated 50,000 to 100,000 in the digital workforce, the visa scheme could help draw in more professionals specialised in blockchain, data science, and artificial intelligence, according to Sam Tanskul, managing director at Krungsri Finnovate under the Bank of Ayudhya.

The rate of around 10,000 technology graduates each year is not enough to keep up with the growing demand in the digital workforce, he adds. More people in the technology workforce is also seen to be a benefit to local startups.

SOURCE: Bangkok Post