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Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

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The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

“These new and exciting projects reflect investors’ continued interest in Thailand biotech capability,” Ms. Duangjai Asawachintachit, Secretary General of the BOI.

“Adding to our strong agricultural base and biodiversity, Thailand has now also a very strong pool of researchers that allow us to move into advanced technology.”

Ms. Duangjai Asawachintachit, Secretary General of the BOI.

Thai Kyowa Biotechnologies Co., Ltd., a producer of amino acids for pharmaceuticals affiliated to Japan’s Kirin Holdings, received approval for an advanced biotech project to produce Human Milk Oligosaccharide (HMO), a prebiotic and key ingredient in milk powder for infants and adults, helping to build immunity. The fully Japanese-owned company, located in Thailand’s eastern province of Rayong, expects HMO production to start in 2022, mainly for exports.

Genepeutic Bio Co., Ltd., a company established by doctors from the Ramathibodi hospital in Bangkok, and local investors, received approval for a project to develop and produce an innovative treatment for patients with Acute Lymphoblastic Leukemia (ALL). The company, based in the Thailand Science Park, close to the country’s capital, was setup to develop CAR T Cell advanced therapy medicinal products (ATMP).

Fruita Biomed Co., Ltd., a company related to Thailand’s Fruita Natural Co., Ltd., a food and beverage producer and exporter, received approval for a project to produce PHA (Polyhydroxyalkanoate) bioplastic and PHA bioplastic compound developed from organic waste. The company will use the PHA bioplastic to make a wide range of packaging products for food and medical supply as well.

Baiya Phytopharm, Co, Ltd., a Thai startup linked to the CU Innovation Hub, the incubator setup by Bangkok’s well known Chulalongkorn University, received approval for a project to develop and produce biopharmaceuticals, including plant-based vaccines and therapeutic proteins, using molecular pharming technology.

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

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Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

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Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

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Thailand ranked 3rd in ASEAN on Economic Freedom Index

Thailand has a business freedom index of 85.3 out of 100. This is a big improvement over last year, which helped to increase the country’s overall score to 69.7, a 0.3 point jump from last year.

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Thailand ranked 3rd in ASEAN, 9th among 40 Asia-pacific countries and 42nd in the World on the most recent on Economic Freedom index. Singapore tops the list for the second consecutive year, followed by New Zealand and Australia.

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Why Thai Firms Should Care About the Career Stage of China’s Officials

In Chinese bureaucracy, large-scale leadership turnover happens every five years, right on the heels of the Party’s National Congress: think of it as a window of opportunity for promotions, but with a few constraints

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Governments typically set a wide range of goals. This is reasonable and expected: For a society to grow sustainably, social stability-related targets are just as critical as economic ones.

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