Connect with us

Environment

Thailand Is Pushing for the Development of Bioeconomy

The bio-economy plan has five sectors — bio-energy, bio-chemicals, food, animal feed and bio-pharmaceuticals.

Bahar Karaman

Published

on

The Ministry of Industry is working out a roadmap for investment in the development of bioeconomy in Thailand.

The bioeconomy industry is one of the Government’s target industries and is part of the five future industries in the New S-Curve, under the Thailand 4.0 policy.   Deputy Prime Minister Somkid Jatusripitak on 23 January 2017 presided over a ceremony for the launching of cooperation in building bioeconomy through the public-private-people partnership, or Pracharat.

The bio-economy plan has five sectors — bio-energy, bio-chemicals, food, animal feed and bio-pharmaceuticals.

At the ceremony, government agencies, the private sector, educational institutions, and research centers signed a memorandum of understanding (MOU) to drive bioeconomy development.

The Deputy Prime Minister said that existing economic crops would be used to develop high-value products in an effort to build a bioeconomy, in accordance with the Thailand 4.0 policy.

The project will start with sugar cane and cassava, which are grown in abundance in Thailand.

The Board of Investment (BOI) offers a wide range of tax and non-tax incentives for the bioeconomy industry.

Tax-based incentives include the exemption of corporate income tax for up to eight years, with an additional 50 percent reduction for five years and the exemption of import duties on machinery and raw materials. Non-tax incentives include the permission to own land and visa and work permit facilitation.

The Ministry of Industry will complete its investment roadmap for the development of bioeconomy within this year.

In working out the roadmap, it will cooperate closely with the Ministry of Agriculture and Cooperatives and the Ministry of Commerce. In the initial stage, six cash crops will be selected for the development of bioeconomy.

They include sugar cane, cassava, rubber, rice, oil palm, and soybean.   Discussions will be made on whether an industrial estate will be set up or not to accommodate the development of the bioeconomy industry.

As for investment in this development, the Ministry of Industry will use the Eastern Economic Corridor site in Rayong province to promote large investment projects, linking with the development of target industries and transport infrastructure.  

Thailand has an abundance of natural resources, providing an important competitive advantage for the bioindustry sector. It is also making an effort to transform itself into the “bio-hub” of ASEAN.  

Thailand Is Pushing for the Development of Bioeconomy

Continue Reading
Advertisement Load WordPress Sites in as fast as 37ms!
Comments

Asean

ASEAN, EU to enhance cooperation on Environment and Climate Change

The analysis, conducted by a team of experts from the Institute for Global Environmental Strategies, developed a knowledge base for follow-up actions by the EU to inspire and assist circular economy approaches to plastic issues in the ASEAN region.

Avatar

Published

on

BANGKOK, 9 July 2019 – At the launch of a High-Level Dialogue on Environment and Climate Change in Bangkok yesterday, Senior Officials from ASEAN and the European Union (EU) reaffirmed the commitment to strengthen cooperation between ASEAN and the EU on shared regional and global challenges related to protection of the environment and climate change.

(more…)
Continue Reading

Environment

Decarbonising South East Asia

South and South East Asian nations are among the world’s most vulnerable to climate change impacts, some of which are already being acutely felt at the current 1°C level of warming

Boris Sullivan

Published

on

Renewable energy is now cheaper than fossil-fuelled generation in most of the world and renewables offer a faster and cheaper way to increase access to affordable clean energy for millions of people.

(more…)
Continue Reading

Asean

Thailand tops UN Sustainable Development Goals (SDGs) rank in ASEAN

Other ASEAN countries have also been ranked for their SDGs achievements, namely Vietnam at the 54th, Singapore at the 66th, Malaysia at the 68th, the Philippines at the 97th, Indonesia at the 102nd, Myanmar at the 110th, the Lao PDR at the 111th, Cambodia at the 112th

National News Bureau of Thailand

Published

on

Sustainable Development

BANGKOK, 1 July 2019 (NNT) – The Prime Minister is satisfied with the latest Sustainable Development Goals (SDGs) ranking where Thailand’s is in 40th place and the highest placed country in ASEAN.

(more…)
Continue Reading

Most Read

Upcoming Events

Nov 27

The Future Energy Show Thailand

November 27 @ 10:00 am - November 28 @ 5:30 pm BMT

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 10,894 other subscribers

Trending