Investment by the private sector in research and development (R&D) doubled in 2011 from 2010, signalling Thailand is on the right track towards its goal of research contributing to 1% of GDP by 2016.
The data from the National Science Technology and Innovation Policy Office (STI) showed private sector investments in R&D totalled 21 billion baht in 2011, up from 9.73 billion and 9.34 billion in 2010 and 2009, respectively.
The private sector's contribution was 52% of Thailand's R&D expenditure, said STI secretary-general Pichet Durongkaveroj.
Figures for the government sector are being finalised by the National Research Council, but they did not increase at the same rate as the private sector, he said.
In 2013, the top R&D spenders were the chemicals, food, petroleum, machinery, rubber and plastics, electricity, gas and water services, automotive, minerals, electronics, transport and logistics, and textiles sectors.
The findings provided a positive sign that Thailand is nearing its goal of R&D contributing 1% of GDP by 2016, up from 0.37% now, said Mr Pichet.
By then, private-sector investment is expected to contribute 70% of R&D expenditure, he added.
"It is possible that growth will accelerate as a result of an increase in private-sector investments," Mr Pichet said. "But this doesn't mean the government should lower its support, as the private sector still needs to depend on the public sector and universities."
By 2016, R&D personnel are expected to have increased to 15 researchers per 10,000 people, up from nine per 10,000 or 57,220 researchers in 2008.
The STI has been talking about the 1% goal for five years, but progress has been slow due to changes in government.
Mr Pichet said technology and innovation should be included as a standing policy regardless of a change in government or Thailand will not move out of the middle-income trap.
In a related development, the European Union (EU) is set to more than double its science funding for Asean nations as part of its Horizon programme that runs until 2020.
The programme is the EU's new aid for R&D, with a budget of 80 million euros (3.2 trillion baht).
In the previous programme that recently ended, 190 projects received funding of 30 million euros. Thailand alone received the largest portion of funding in Asean for 37 projects worth 6.53 million euros.
Maria Cristina Russo, director for international cooperation at the European Commission, said European firms in Thailand are keen to participate in the programme to bridge the gap between universities and industries.
"Partnership with Asean countries will be of the utmost importance," she said at the Asean-EU Science, Technology and Innovation Days in Bangkok. "The traditional powerhouses of the US, Europe and Japan will account for a smaller share in science and technology."
Priority will be given to health, such as stopping the spread of infectious diseases, and agriculture.