Cosmetics industry goes global: Thai NSTDA’s empowering touch
The Thai National Science and Technology Development (NSTDA) initiated a comprehensive service to aid cosmetics industry entrepreneurs in their global market expansion.
The NSTDA director, Chukit Limpijamnong, indicated that the cosmetics industry is a key sector for the agency and possesses significant expansion potential, both domestically and internationally. Therefore, firms in this sector require robust support in innovation and technological development.
The NSTDA is committed to transforming lab research into commercial products, thereby stimulating the country’s economic growth. Chukit highlighted the crucial role played by the Food Service Platform for Food and Functional Ingredients (Food SERP) managed by NSTDA, in supporting both the food and cosmetics industries.
Entrepreneurs in these sectors often face challenges in launching their products internationally, due to the need for a trustworthy agency to certify the active ingredients used in their products. To address this, NSTDA has stepped in to provide the necessary certification, facilitating their business operations, said Chukit.
“We have paid attention to the Quick Win policy under the science minister’s guidelines. Close cooperation between the NSTDA and the cosmetics-manufacturing group will help their businesses to grow faster with our strong support based on science and technology, including our one-stop service that helps them to get the documents they need to sell their products.”
In a recent development, NSTDA and the Thai Cosmetic Cluster (TCOS) entered into a Memorandum of Understanding (MoU) yesterday. This agreement centres on cooperation in research and development related to cosmetics and the advancement of associated manufacturing processes, reported Bangkok Post.
The objective is to elevate product quality through innovation and technology, making them more competitive in the global arena. Additionally, it aims to strengthen networks to create a positive impact on social, economic, and environmental development in a sustainable manner, added Chukit.
Srichand United Dispensary Co and Karmarts Plc, both prominent Thai beauty companies, are gearing up for an extensive global expansion. This decision stems from Indonesia’s sizable beauty market and its densely populated demographic, making it a prime target for its expansion efforts. Read more HERE.
Follow more of The Thaiger’s latest stories on our new Facebook page HERE.
