Thailand has announced its intention to become the “Bio Hub of ASEAN” within 2027.
The announcement was made at the 2022 Nikkei Forum in Japan last week as part of the kingdom’s development strategy involving social gap reduction and expanding the economy.
According to Deputy Government Spokesperson Ratchada Thanadirek, the administration has issued various measures to promote the development of biotechnology since 2018. Foreign investors have meanwhile shown interest by filing support requests through the Thai Board of Investment (BOI).
The BOI last year approved a total of 222 biotechnology-related projects worth 76.5 billion baht. Key investment programs include the manufacturing of “Thermoplastic Starch” bioplastic in the Eastern Economic Corridor (EEC), the production of “Polylactic Acid” bioplastic in Nakhon Sawan province, and biodegradable straw from starch in Khon Kaen province.
Leading private development programs include the 57.6 billion-baht “Asian Bio Hub” in Chachoengsao province. The smart biotechnology industrial estate for biochemicals and bioenergy also conducts research into future food for humans and animals. The program involves Thai and foreign investors, as well as the participation of more than 60,000 local farmers. (NNT)