Under the ambitious Thai Space Consortium project, the government is working with partners to produce satellites and boost the country's space capabilities.

A pilot satellite named TSC-Pathfinder, the first to be made by Thais, is expected to be launched in 2023 to survey Earth's natural resources.

It is among five small satellites being developed by the Ministry of Higher Education, Science, Research and Innovation (MHESI) in its 2021-2027 space technology programme.

The ministry and 12 partners on Monday signed an agreement to work together on space technology research in a project involving five universities and space technology-related agencies.

The key areas of research will be space engineering development, application, research and development, and educational and industrial support.

However, critics are questioning whether the project will really benefit Thailand in terms of space technology development.

Many on Twitter have also criticized the cost of the project when so many Thai people were living in poverty.

MHESI Minister Anek Laothamatas said on Monday that space technology would become a major field of interest for future investors because so many people were now involved with the IoT (Internet of Things) in their everyday lives.

"The government is well aware of that, hence it is laying down the basis infrastructure and the development of human resources," Mr Anek said at Monday's signing ceremony.

"The space technology business will be able to create start-up businesses related to space technology and in doing so elevate the country's economy."

Following TSC-Pathfinder's launch in 2023, over the next four years satellites will be launched to survey the earth; to test dual-system technology; to test low-frequency-X band signals; and lastly, by 2027, to put a satellite in the Moon's orbit.