As a result of the COVID-19 epidemic in the past year of 2020, nearly all technology and innovation stocks in the world saw tremendous growth both in in hardware and software or related businesses like e-commerce. In particular, among the people who work from home who rely on the Internet and network devices to work from home. Even online games received an unexpected wave of positive responses. This does not include other innovative businesses related to vaccines and healthcare that are on the rise.
Explosive growth after COVID
The fruitfulness of returns in technology and innovation stocks is so high to the extent that domestic mutual funds invest a lot in this sector. It is able to generate more than 30% of returns on each fund. If we look at the financial statements of the listed companies, it will be found that their revenues have risen, especially in the electronic component sector, which has grown significantly. Despite competing with Vietnam, the potential and production technology of Thailand, which has long been the production base for leading companies, is still reliable and trusted. This is in line with the report of the Board of Investment (BOI) indicating that the No. 1 investment promotion application in 2020 was electrical appliances and electronics, with an investment value of 50.3 billion baht. Equally remarkable is the medical industry, especially in the area of innovation in drug and vaccine manufacturing, which has been promoted by leapfrogging. Since Thailand has been entrusted as a foreign production base for the COVID-19 vaccine, it shows that Thailand still has the potential and the competitiveness and investment.
If the vaccine becomes more effective, is it worth investing in technology and innovation?
The arrival of the vaccine is a good thing for many businesses that are currently affected. With constant innovation and technology, these businesses can continue to grow in the future and can be worth investing in. Especially in the development of software and applications that deliver convenience to the people even more. This can be seen from the competition in food delivery applications, not including the development of medical robots to assist in the detection and screening of COVID patients, the development of drones for transportation and agriculture, or even the development of online gaming software that can continue to grow in the future, the development of online and multimedia software and learning materials, etc. All these developments are coming in the near future. This includes the development of cyber security systems, as well as related parts and equipment, to support the operation of those operating systems for maximum efficiency.