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THAILAND’S
BIOECONOMY
I N D U S T R Y
Thailand Board of Investment
www.boi.go.th
INDUSTRY OVERVIEW
Over the past several decades,
the concept of bioeconomy has
increasingly captured the world’s
attention as an important means of
supporting sustainable development
and contributing to the global economy.
In 2015, there are over 49 countries
around the world planning to adopt
or practicing biorelated policies1
to
transition from fossil fuels to a greener
and cleaner biobased economy.
THAILAND’S
BIOECONOMY
INDUSTRY
The Royal Thai Gover nment
recognizes the importance of
sustainable economic development.
Various policies have been introduced
to address technological, economic
and institutional challenges to move
the country towards a sustainable
biobased economy.
Source:
1, 2
The Organization for Economic Co-operation
and Development (OECD)
The OECD defines bioeconomy as
the economic activities relating to the
invention, development, production and
use of biological products. This includes,
but is not limited to the applications of
biotechnology to agriculture, industry
and health.
The bioeconomy is expected to play an
increasing role in developing a greener economy
and is estimated to contribute 2.7% to global
GDP by 2030.2
2.7%
2008-2015
National Bioplastic Roadmap
A national agenda to establish
a complete supply chain for the
bioplastic industry in Thailand. The
policy focused on the development
of R&D, supporting infrastructure
and innovative businesses for
bioplastics.
2012-2036
Alternative Energy Development
Plan
This plan aims to cut the country’s
dependence on imported fossil
fuels with domestically produced
renewable energy.
2015 - NOW
Thailand 4.0 and the New S-Curve
The new “Thailand 4.0” growth model focuses on the concept of inclusive,
productive and green growth to enhance the country’s competitiveness and
economic development. Under the model, 10 industries are issued as the
new economic growth engines of which the five new industries are Robotics,
Medical Hub, Aviation and Logistics, Digital and Bioeconomy.
2004-2021
Thailand’sNationalBiotechnology
Framework
The framework includes a policy
of Green Innovations for Economic
Security, Competitiveness and a
Healthy Society and targets 4 critical
sectors: Food and Agriculture,
Medicine and Health, and Bioenergy
and Biobased Industries.
Plant Breeding
Development
Animal Farming
Diagnosis of Diseases
Agriculture
Bioenergy
Biochemicals
Biofuels
Industry
Diagnostic Kits
Stem Cell Technology
Biopharma-
ceuticals
Health
Bioeconomy -
a National Agenda
As one of the new economic growth
engines, the Ministry of Industry gives
a precedence to bioeconomy, utilizing
Thailand’s rich biodiversity and strong
chemical manufacturing industry.
Moreover, the National Science
Technology and Innovation Policy Office
(STI) works together with the National
Center for Genetic Engineering and
Biotechnology (BIOTEC) to formulate
the National Biotechnology Policy
Framework 2012-2021. The policy
framework’s objectives are to develop
strategic planning, establish future
R&D, and enhance the country’s
ability to access new technologies and
applications of biotechnology.
The framework includes 4 different
sectors which are agriculture and food,
medical and public health, bio energy,
and bio industries.
Bioindustries
Bioindustries are industries that are
developed on the advancements
of biotechnologies. The four major
bioindustries are; bioenergy, biofuels,
biochemicals and bioplastics.
BIOENERGY
Energy consumption in Thailand
increased by about 4% since 2010*.
Total energy expenditure in 2014 was
US$63.23 billion**, 2.6% higher than
in 2013. The country is also heavily
dependent on imported energy, with
over 57% of energy purchased from
overseas sources in 2014.1
Reducing
the country’s dependence on foreign
energy sources is one of the focuses of
the government to strengthen economic
stability. The country’s first alternative
energy plan was introduced in 2012
to address energy concerns through
renewable alternatives and bioenergy.
Source:
1
	 Energy Policy and Planning Office,
Ministry of Energy
Note:
*	 Compound Annual Growth Rate (2010-2014)
**	Exchange Rate = THB 34.80/US$
as of 1st
September 2016;
Source:
1	
The National Center for Genetic Engineering
and Biotechnology (BIOTEC)
Note:
*	 Exchange Rate = THB 34.80/US$
as of 1st
September 2016
Bioeconomy: 10-Year Goals1
Reduction in CO2
Emissions
Increase in Income
for Farmers
Employment Rate
Sugarcane
Value Added
Cassava Value
Added
BioEnergy
> 70 million tons
Increase to US$
1,868 - 2,443*/year
Sugarcane
>300,000 Households
Cassava
>500,000 Households
> US$8.67 billion*/year
> US$2.89 billion*/year
>30 million kilotons of
oil equivalent (ktoe)
(in 20 years)
Bioenergy Consumption
TheAlternativeEnergyDevelopmentPlan
(AEDP) 2015-2036 is the second phase
of the country’s long-term roadmap
towards attaining a greener economy.
The AEDP provides a blueprint and
target for the government and related
sectors to analyze, identify and replace
fossil fuels with renewable energy. The
target for bioenergy consumption is
24% of energy consumed domestically.1
Bioenergy Domestic
Consumption: 2014 & 2036F1
AEDP 2015-2036 Targets
Sources:
1, 3
Energy Policy and Planning Office,
Ministry of Energy;
2
Petroleum Institute of Thailand
Note: Biogas consumption is
included in bioheat.
Thailand is the ASEAN leader in biofuels production with over 3.5 million
liters of ethanol and 3.3 million liters of biodiesel produced daily.2
In 2014,
biobased energy already accounted for approximately 9% of total energy
consumed in Thailand.3
Successful Companies
Mitr Phol Group was initially established
in 1956 in Ratchaburi province, Thailand.
The company applies innovation and
technology to develop its business
from sugar to renewable energy, wood
substitute materials, and Bio-based
products under the concept of value
creation. In present, the Group has
expanded its business into the People’s
Republic of China, Lao People’s
Democratic Republic and Australia.
Patum Vegetable Oil (PVO) was
established in 1975. The company
has since become one of Thailand’s
leading palm and coconut refineries,
offering a wide range of edible oils,
food additives, biodiesel and refined
glycerine products. After years of
extensive R&D, the company entered
the biodiesel sector in early 2006 and
established its first biodiesel plant.
PVO, together with Shell Thailand, also
runs a joint project to provide financial
and operational support for preparing
palm oil crushing mills and smallholder
farmers in the south of Thailand for the
Roundtable on Sustainable Palm Oil
(RSPO) certification and raising the Thai
palm oil industry to global standards.
5%
Biofuels
18%
Bioheat
1%
Bioelectricity
Other Key Players
Company Name Main Products
Kaset Thai International
Sugar Corporation
Sugar, molasses, pulp, bio fertilizer,
ethanol, electricity, and agricultural
machinery services
Thai Roong Ruang Sugar Group Sugar
Energy Absolute
Biodiesel and glycerine through
solar and wind power plant
Khon Kaen Sugar Industry
Sugar, ethanol, bio-fertilizer, and
electricity
AI Energy
Premium gasoline, marine gas
oil, automotive gas oil, kerosene,
liquefied petroleum gas, and
residual fuel oil
76%
89%
8%
18%
5%
2% 1% 1%
Fossil Fuels Bioheat Biofuels Bioelectricity
ktoe
75,804
ktoe
131,000
2014 2036
The government also plans to help increase market
demand of PLA in food packaging, especially in
single-use packaging, functional film and frozen
ready-meal packaging by 25% of current usage.4
Biochemical Industry Overview1
BIOCHEMICALS
Biochemistry covers a wide range
of scientific disciplines, including
genetics, microbiology, plant science
and pharmaceuticals. Because of its
comprehensive breadth, there is the
continuous need for development and
research for new applications and
potential market opportunities.
Source:
1	
Petroleum Institute of Thailand
Note:
*	 Exchange Rate = THB 34.80/US$
as of 1st
September 2016
Source:
1,4	
Public-Private Partnership
2,3	
Petroleum Institute of Thailand
Note:
*	 Exchange Rate = THB 34.80/ US$
as of 1st
September 2016
**	 BDO = 1.4-Butanediol
***	 BSA = Bovine serum albumin
The Development of Bioplastics
As part of the Bioeconomy roadmap,
the Thai government, in collaboration
with major industry players PTTGC and
Mitr Phol, aims to invest over US$2.87
billion* to establish the country’s first
Biorefinery complex beginning in 2018.1
The plant will increase Polybutylene
succinate (PBS) productivity by five
times and almost double Polylactic acid
(PLA) production capacity.2
It will also
help the country to cut down its reliance
on Biochemical commodities.
PLA demand
is expected
to increased by
roughly
25%
Current Biochemical Production in Thailand
Biochemicals
Fatty Acids/Alcohol PBS
(Polybutylene Succinate)
PLA
(Polylactic Acid)
PBAT
(Polybutyrate)
PHA/PHB
(Polyhydroxyalkanoate/
Polyhydroxybutyrate)
Oleochemicals
Surfactants
Lactic Acids
BDO
(Butanediol)
Succinic Acids
Bioplastics
Produced from Sugars & Starch Produced from Palm Oil
Currently Underdeveloped Produced from Petroleum
Proposed Biorefinery Complex: Production Capacity3
Sugar Cane
1.1 million rai
PLA
250 kilotons/year
Sugar Cane Mill
11 million tons/year
BDO**
100 kilotons/year
BSA***
205 kilotons/year
Lactic Acid
330 kilotons/year
PBS
100 kilotons/year
Feedstock
Biochemicals
Bioplastics
2,400
Jobs
created
30%
Growth
expected in the
Bioplastics
market
0.48TPA
CO2
reduced
928USD
Income
per year
Pharmacy
&
Fine Chemicals
Food and Feed
Chemicals and Materials
Energy: Biofuels, Electricity and Heat
VOLUM
E
VALUE
Source:
1, 3
Council of University Presidents of Thailand
( CUPT )
2
Thomson Reuters
4, 5
D5 working team under Thailand’s
Public-Private Partnership;
Note: * Exchange Rate = THB 34.8/ US$
as of 1st
September 2016
Successful Companies
Corbion is the global leader in lactic
acid, lactic acid derivatives and lactides.
With its largest production plant based
in Thailand, Corbion will be able to
leverage the plentiful sugar resources
available to become the largest PLA
producer in the world. To accelerate
its growth in the bioplastic arena, the
company will invest over US$100
million* in its new PLA polymerization
and Lactide plants, which will open
for operations in late 2018. The plant
will increase global PLA production
capacity by a further 75 kilo tons per
annum.
Multibax is an award-winning, world-
class plastics manufacturing company
specializing in biodegradable plastic
bag production. Established in 1995, the
company has expanded its operation to
five factories with an annual production
capacity of over 24,000 tons of plastic
bags. Trusted by customers worldwide,
the company’s biodegradable plastic
bag, MBIO-2, is certified by four
international certification bodies;
DIN CERTCO (Germany), VINCOTTE
(Belgium), FSWA (Finland) and BPI
(USA).
In 2016, Multibax established a
co-research project with Burapha
University, the Biodiversity-Based
Economy Development Office (BEDO)
and the National Research Council of
Thailand (NRCT) to set up a pilot scale
production for BioSuccinic acid, the
starting material for PBS (BioPlastic
resin) production.
BIOPHARMACEUTICAL
Thailand aims to become ASEAN’s
Biopharmaceuticals and Advanced
Vaccine Hub by 20261
and join the US$1
trillion global pharmaceuticals supply
chain.2
Over 14.6 million patients across ASEAN
and 98% of Thai patients are unable to
afford imported medicines.3
To reduce
their costs, Thailand aims to decrease
its import dependency by 30% and
increase its pharmaceutical export value
to over 75,000 million Thai baht within
the next 10 years.4
This US$63.22 million industry*,5
requires
intensive R&D and technological
investments to achieve its ambitious
goals. This presents an enormous
opportunity for foreign investors
to explore the market and enjoy
tremendous growth potential. Moreover,
Thailand has developed several
biotechnology programs, especially
in alternative disease solutions, for
many emerging and tropical diseases.
Thailand has successfully developed
number of vaccines, including tetanus,
pertussis, and hepatitis B. The country
is also one of the leading countries in
stem cell research in Southeast Asia.
Research in Vaccine Development
With high-caliber researchers, vaccine
developers and a vast amount of
agencies working in the field of
vaccine research and development,
Thailand is now becoming the leader of
vaccine development in ASEAN. Some
successfully developed projects include
5-in-1 or ‘cocktail’ vaccine, H5N1 avian
influenza vaccine, dengue vaccine.
Dengue Vaccine
NSTDA researchers have also
developed a dengue vaccine to address
and prevent dengue fever, the disease
of high fatality rate. The vaccine is
aimed for use in indigenous population
as well as populations along Thailand’s
border regions.
5-in-1 or ‘Cocktail’ Vaccine
Many vaccines have been developed by
the Thailand’s NSTDA in collaboration
with BIONET Asia. For instance, the 5-in-
1 or ‘Cocktail’ vaccine against 5 major
infectious diseases, diphtheria, tetanus,
pertussis, hepatitis B, and meningitis
has been successfully developed and is
expected to be released to the market
in 2017.Note: * Exchange Rate = Euro 0.89/US$ as of 1st
September 2016
Other Key Players
Manufactures and sells Oleochemical and Fatty Alcohol products, which
are used for producing home and personal care
Provider of fatty alcohol ethoxylate, a key ingredient in the manufacture of
various personal hygiene products
Produces methyl ester, which is used as an ingredient in biodiesel
Provider of starch derivatives, used as an ingredient in food, cosmetic, and
pharmaceutical products
Provider of compostable bioplastic material with fast tracking solution for customer
Provider of bio-plastic resins and products
World-class provider of food additive, including food grade Citric Acid and Citrate
Provider of citric acid
Thai Fatty Alcohol
Thai Citric Acid
H5N1 Avian Influenza
As part of the National Flu Pandemic
Preparedness Plan, the GPO H1N1
PLAIV vaccine approved by the Thai
FDA in 2011, followed by the “FluVac”
H5N2 and the IIV seasonal vaccines
currently under clinical trials and
an establishment of an industrial-
scale influenza vaccine production
plant in Saraburi province have
clearly demonstrated the successful
accomplishment of GPO in influenza
vaccine production.
Natural Product Research
in Thailand
Functional Food
Thai scientists have begun investigating
the subtle action of biologically active
food components on human health.
Additional research aims to validate the
efficacy of these food components and
establish appropriate dietary levels. Thai
researchers have identified
functional food components that may
improve memory, reduce arthritis, lessen
cardiovascular disease and provide
other benefits typically associated with
utilizing prescription drugs. Thailand
is making a great deal of progress
with respect to functional foods and
molecular nutrition, both novel scientific
paradigms that challenge traditional
nutrition approaches.
Stem Cell Technology
Thailand is one of the leaders in stem
cell research in Southeast Asia. Many
well-known stem cell studies has been
conducted by both public and private
institutions. For instance, Chulalongkorn
University successfully produced
human embryonic stem cells, Police
General Hospital developed adult stem
cells to treat arthritis sufferers while
Siriraj Hospital discovered a method to
extract stem cells from human amniotic
fluid. Thailand is also one of the leaders
in stem-cell banking. Currently, there
are five leading stem-cell banking
companies in Thailand. In 2012, the
country first embryonic stem-cell bank
was established by Chulalongkorn
University (supported by TCELS).
WHY INVEST IN
THAILAND?
Abundant Resources and
Biodiversity
Thailand’s rich natural resources have
solidified the country’s reputation as the
leading global supplier of agriculture
products such as cassava, sugarcane
and palm oil. These commodities, as
well as their waste byproducts, can be
utilized as biomass which is a critical
source for biobased energy and other
biobased products.
1st
World’s No.1
exporter
of cassava
products
2nd
World’s No.2
sugar
exporter
Thailand’s Biodiversity at a Glance
Located in the heart of the ASEAN region and the Indo-Burma biodiversity hub,
Thailand has one of the world’s richest biodiversities with over 13,500 species of
plants, 52% of which are endemic.1
Source:
1	
National Center for Genetic Engineering and
Biotechnology
Note:
*	 Exchange Rate = THB 34.8/ US$
as of 1st
September 2016
Indo-Burma region’s No.1
largest plant biodiversity area
8 - 10% of the world’s
micro-organism species
8% The world’s plant species
(approximately 15,000 species)Successful Companies
BioNet-Asia is a leading vaccine company focusing on technological
innovation and global market access. The company supplies more
than billion doses of vaccines worldwide. At its cutting-edge plant in
Thailand, BioNet is developing a unique expertise in genetic engineering,
protein conjugation and vaccine formulation for various diseases, such
as diphtheria, tetanus, pertussis, meningitis and hepatitis B.
Siam Bioscience is a life-science company focusing on R&D,
manufacturing, and the commercialization of pharmaceutical and
biopharmaceutical products. With over 1,600 sq.m. FDA GMP and
PIC/S GMP standards compliance laboratory areas, the company is
equipped with world-class researchers from all around the world. The
company also joined forces with Mahidol University in developing and
transferring advanced technologies. With many biopharmaceutical
products under development, Erythropoietin Alfa and Filgrastim are
currently the company’s marketable products.
BIOFUEL
Modern Farming
In addition to the tremendous
biodiversity and plentiful biocrops,
Thailand’s expertise in plant breeding
and agricultural improvements are
the keys to its competitiveness. There
currently are over 1,440 plant breeders
and seed technologists.1
Inspired
to become ASEAN’s seed hub, the
government introduced numerous
support and training initiatives to nurture
the development of the agriculture
sector.
In 2011, Mitr Phol’s pilot
modern farm was introduced
in Suphan Buri province.
The project now includes a
sugarcane farm of over 1,000
rai in the central province of
Thailand.
Source:
1
Thailand Advanced Institute of Science and Technology
2
National Center for Genetic Engineering and Biotechnology
Note:
* Exchange Rate = THB 34.8/ US$
as of 1st
September 2016
Skilled and Ready Workforce
Through government’s generous
supportandstrongcooperationbetween
sectors, workforce development in
Thailand has become the driving force
for development of the bioeconomy
sector. The current human development
program aims to further grow the
number of workers and experts, and
to have at least 10,000 bioscience
students.3
Strong Supply Chain
To establish a successful Bioeconomy
supply chain, the government is
committed to playing a vital role
in directing the national agenda.
The successful Eastern Seaboard
Source:
1
Office of the Higher Education Commission
2
The National Center for Genetic Engineering
and Biotechnology (BIOTEC)
3
Thailand Advanced Institute of
Science and Technology
The government, along with the private
sector and research institutions, has
already cooperated in improving
agricultural production and efficiency by
applying advanced technologies such
as precision farming, SNP Genotyping
and Tissue Culture technology. One of
the noteworthy projects is the US$2.30
million Mitr Phol – National Science
and Technology Development Agency
(NSTDA) joint research project on
sugarcane breeding and development.2
model will be used as a masterplan,
focusing on R&D and collaboration
among the different sectors, applying
this experience to Bioeconomy, the
country’s next leading industry.
40,000 /year
Science graduates in Thailand
22,419 /year
Engineers graduate in Thailand1
>1,500
Biotechnology experts and
researchers2
SUPPORTING
FACILITIES
To provide continuous support to
the development of a well-qualified
workforce, the Royal Thai government,
in collaboration with educational
institutions and the private sector
is offering various resources for
research and development, human
resources training as well as dedicated
biotechnology related faculties in over
22 leading academic institutions.
Associations and Institutions
Research Centers
Biochemical Engineering and Pilot Plant Research and
Development Laboratory
King Mongkut’s University of Technology, Thonburi
MU-OU: CRC 
Collaborative Research Center for Bioscience and Biotechnology
Faculty of Science, Mahidol University
Cassava and Starch Technology Research Laboratory
Kasetsart University
Marine Biotechnology Laboratory
Faculty of Science, Chulalongkorn University
Medical Biotechnology Research Laboratory
Faculty of Medicine, Siriraj Hospital
Plastics Institute of
Thailand
Promotes and enhances the Thai plastics
industry’s competencies through R&D and
product testing services.
Department of Science
Service
Provides professional R&D, product testing
and HRD support through state-of-the-art
technology.
National Science and
Technology Development
Agency
Supports R&D in 5 target areas, including
agriculture and food, energy and environment,
health and medicine, bioresources and
community, and manufacturing and service
industries
Thai Bioplastics Industry
Association
Assists in the development of the Thai
Bioplastics industry to reach international
standards and promotes networking within
the Bioplastics community.
National Innovation
Agency
Supports R&D of innovative products and
embeds the innovative strategic direction
of firms.
Petroleum Institute of
Thailand
Facilitates the Thai petroleum market and
supports research, HRD and the development
of the Thai petroleum and petrochemical
industries.
The National Center for
Genetic Engineering and
Biotechnology
Supports R&D, policy research, and
international relations in agricultural,
biomedical and environmental sciences.
Thailand Institute
of Scientific and
Technological Research
Promotes and enhances innovations in
science and technology R&D capabilities for
commercialization and social benefits.
Non-Tax Incentives
These activities also receive the following non-tax incentives:
INVESTMENT INCENTIVES
BOI Incentives
BOI recognizes the importance and value of the bioeconomy industry, and
offers a wide range of tax and non-tax incentives for projects that meet national
development objectives.
Note: *Exemption of import duty on raw or
essential materials and machinery used in
manufacturing export products
Note: *Exemption of import duty on raw or
essential materials and machinery used in
manufacturing export products
Tax Incentives
Bioenergy
GROUP ELIGIBLE ACTIVITIES
INCENTIVES
Corporate
income tax
exemption
Exemption
of import
duty*
A1
Production of electricity or electricity and steam from
garbage or refuse derived fuel
8 years
(No Cap) 
A2
Production of electricity or electricity and steam from
renewable energy, such as solar energy, wind energy,
biomass or biogas, etc. except from garbage or refuse
derived fuel
8 years 
Biofuels
GROUP ELIGIBLE ACTIVITIES
INCENTIVES
Corporate
income tax
exemption
Exemption
of import
duty*
A2
•	 Manufacture of fuel from agricultural products
•	 Manufacture of fuel from agricultural scrap or garbage
or waste
8 years 
A3 Manufacture of biomass briquettes and pellets 5 years 
Bioplastics
GROUP ELIGIBLE ACTIVITIES
INCENTIVES
Corporate
income tax
exemption
Exemption
of import
duty*
A2
•	 Manufacture of eco-friendly chemicals or polymers or
manufacture of products from eco-friendly chemicals or
polymers that is incorporated within the same project as
the manufacture of eco-friendly chemicals or polymers
•	 Manufacture of specialty polymers or specialty
chemicals
8 years 
A3 Manufacture of products from eco-friendly polymers 5 years 
Biotechnology Research and Development
GROUP ELIGIBLE ACTIVITIES
INCENTIVES
Corporate
income tax
exemption
Exemption
of import
duty*
A1
•	 Research and development activity and/or
manufacturing, using biotechnology of
•	 seed industry
•	 improvement of plants
•	 Animals
•	 microorganisms using biotechnology
•	 biopharmaceutical agents using biotechnology
•	 diagnostic kits for health, agriculture, food and
environment
•	 biomolecules and bioactive substances using
microorganisms, plant cells and animal cells
•	 Manufacture of raw materials and/or essential materials
for molecular biological research and development,
experiments, testing or quality control services and/or
production of biological substances
•	 Biological substance analysis and/or synthesis services
and/or quality control services and/or product validation
services
8 years
(No Cap) 
Permit to bring in
expatriates
Permit to own land
Permit to take or
remit foreign currency
abroad
CONTACT US
HEAD OFFICES
OFFICE OF THE BOARD OF INVESTMENT
555 Vibhavadi-Rangsit Road, Chatuchak, Bangkok 10900
Tel: 	 +66 (0) 2553-8111
Fax: 	+66 (0) 2553-8315
Website: www.boi.go.th
Email: head@boi.go.th
ONE START ONE STOP INVESTMENT CENTER (OSOS)
18th
Floor, Chamchuri Square Building,
319 Phayathai Road, Pathumwan, Bangkok 10330
Tel: 	 +66 (0) 2209-1100
Fax: 	+66 (0) 2209-1199
Website: osos.boi.go.th
Email: osos@boi.go.th
ONE STOP SERVICE CENTER FOR VISAS AND
WORK PERMITS
18th
Floor, Chamchuri Square Building,
319 Phayathai Road, Pathumwan, Bangkok 10330
Tel: 	 +66 (0) 2209-1100
Fax: 	+66 (0) 2209-1194
Email: visawork@boi.go.th
REGIONAL OFFICES
REGIONAL INVESTMENT AND ECONOMIC CENTER 1
CHIANG MAI OFFICE
Airport Business Park 108-110,
90 Mahidol Road, Amphur Muang, Chiang Mai 50100
Tel: 	 +66 (0) 5329 4100
Fax: 	+66 (0) 5329 4199
Email: chmai@boi.go.th
PHITSANULOK OFFICE
3rd
Floor, Thai Sivarat Building, 59/15 Boromtrilokkanat 2 Road,
Naimuang, Amphur Muang, Phitsanulok 65000
Tel: 	 +66 (0) 5524-8111
Fax: 	+66 (0) 5524-8777
Email: phitsanulok@boi.go.th
REGIONAL INVESTMENT AND ECONOMIC CENTER 2
NAKHON RATCHASIMA
2112/22 Mitraphab Road, Amphur Muang,
Nakhon Ratchasima 30000
Tel: 	 +66 (0) 4438 4200
Fax: 	+66 (0) 4438 4299
Email: korat@boi.go.th
REGIONAL INVESTMENT AND ECONOMIC CENTER 3
KHONKAEN
177/54 Moo 17, Mitraphab Road, Amphur Muang,
Khonkaen 40000
Tel: 	 +66 (0) 4327 1300-2
Fax: 	+66 (0) 4327 1303
Email: khonkaen@boi.go.th
REGIONAL INVESTMENT AND ECONOMIC CENTER 4
CHONBURI
46 Moo 5 Laem Chabang Industrial Estate, Sukhumvit Road,
Toongsukhla, Sriracha, Chonburi 20230
Tel: 	 +66 (0) 3840 4900
Fax: 	+66 (0) 3840 4997, +66 (0) 3840 4999
Email: chonburi@boi.go.th
REGIONAL INVESTMENT AND ECONOMIC CENTER 5
SONGKHLA
7-15 Chaiyong Building Juti Uthit 1 Road, Hadd Yai,
Songkhla 90110
Tel: 	 +66 (0) 7458 4500
Fax: 	+66 (0) 7458 4599
Email: songkhla@boi.go.th
REGIONAL INVESTMENT AND ECONOMIC CENTER 6
SURAT THANI
49/21-22 Sriwichai Road, Makhamtia, Amphur Muang,
Surat Thani 84000
Tel: 	 +66 (0) 7740 4600
Fax: 	+66 (0) 7740 4699
Email: surat@boi.go.th
OVERSEAS OFFICES
SHANGHAI
Thailand Board of Investment, Shanghai Office
Royal Thai Consulate General, No. 18, Wanshan Road,
Changning Distric, Shanghai 200336, P.R.C.
Tel:	 +86-21-5260-9876, +86-21-5260-9877
Fax:	+86-21-5260-9873
Email: shanghai@boi.go.th
BEIJING
Thailand Board of Investment, Beijing Office
Royal Thai Embassy, No.40 Guang Hua Road, Beijing 100600 P.R.C.
Tel: 	 +86-10-6532-4510
Fax: 	+86-10-6532-1620
Email: beijing@boi.go.th
GUANGZHOU
Thailand Board of Investment, Guangzhou Office
Investment Promotion Section, Royal Thai Consulate-General,
No.36 Youhe Road, Haizhu District, Guangzhou, P.R.C. 510310
Tel: 	 +86-20-8385-8988 Ext. 220-225,
	 +86-20-8387-7770 (Direct line)
Fax: 	+86-20-8387-2700
Email: guangzhou@boi.go.th
TAIPEI
Thailand Board of Investment, Taipei Office
Taipei World Trade Center, 3rd
Floor, Room 3E 39-40
No.5 Xin-Yi Road, Sec. 5 Taipei 110, Taiwan R.O.C.
Tel:	+886-2-2345-6663
Fax:	+886-2-2345-9223
Email: taipei@boi.go.th
TOKYO
Thailand Board of Investment, Tokyo Office
Royal Thai Embassy, 8th
Floor, Fukuda Building West,
2-11-3, Akasaka, Minato-ku, Tokyo 107-0052 Japan
Tel:	 +81 (0) 3-3582-1806
Fax:	+81 (0) 3-3589-5176
Email: tyo@boi.go.th
OSAKA
Thailand Board of Investment, Osaka Office
Royal Thai Consulate-General, Bangkok Bank Building, 7th
Floor,
1-9-16 Kyutaro-Machi, Chuo-Ku, Osaka 541-0056 Japan
Tel:	 +81 (0) 6-6271-1395
Fax:	+81 (0) 6-6271-1394
Email: osaka@boi.go.th
SEOUL
Thailand Board of Investment, Seoul Office
#1804, 18th
Floor, Koryo Daeyeongak Center,
97 Toegye-ro, Jung-gu, Seoul, 100-706, Korea
Tel:	+82-2-319-9998
Fax:	+82-2-319-9997
Email: seoul@boi.go.th
MUMBAI
Thailand Board of Investment, Mumbai Office
Express Tower, 12th
Fl., Barrister Rajni Patel Marg,
Nariman Point, Mumbai, Maharashtra 400021
Tel: 	 +91-22-2204-1589-90
Fax: 	+91-22-2282-1525
Email: mumbai@boi.go.th
NEW YORK
Thailand Board of Investment, New York Office
7 World Trade Center, 34th
Floor, Suite F,
250 Greenwich Street, New York, New York 10007, U.S.A.
Tel: 	 +1 (0) 212 422 9009
Fax: 	+1 (0) 212 422 9119
Email: nyc@boi.go.th
Website: www.thinkasiainvestthailand.com
LOS ANGELES
Thailand Board of Investment, Los Angeles Office
Royal Thai Consulate-General, 611 North Larchmont Boulevard,
3rd
Floor, Los Angeles CA 90004, U.S.A.
Tel: 	 +1 (0)-323-960-1199
Fax: 	+1 (0)-323-960-1190
Email: boila@boi.go.th
FRANKFURT
Thailand Board of Investment, Frankfurt Office
Investment Section, Royal Thai Consulate-General
Bethmannstr. 58,5.0G
60311 Frankfurt am Main,
Federal Republic of Germany
Tel: 	 +49 (069) 92 91 230
Fax: 	+49 (069) 92 91 2320
Email: fra@boi.go.th
PARIS
Thailand Board of Investment, Paris Office
Ambassade Royale de Thaïlande
8, rue Greuze, 75116 Paris, France
Tel: 	 +(33-1) 56 90 26 00
Fax: 	+(33-1) 56 90 26 02
Email: par@boi.go.th
STOCKHOLM
Thailand Board of Investment, Stockholm Office
Stureplan 4C 4th
Floor, 114 35 Stockholm, Sweden
Tel:	 +46 (0) 8463 1158, +46 (0) 8463 1174-75
Fax:	+46 (0) 8463 1160
Email: stockholm@boi.go.th
SYDNEY
Thailand Board of Investment, Sydney Office
Suite 101, Level 1, 234 George Street, Sydney,
New South Wales 2000, Australia
Tel: 	 +61-2-9252-4884
Tel: 	 +61-2-9252-4882
Email: sydney@boi.go.th
Thailand Board of Investment
www.boi.go.th
Think Asia, Invest Thailand

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Thailand's Bioeconomy Industry

  • 1. THAILAND’S BIOECONOMY I N D U S T R Y Thailand Board of Investment www.boi.go.th
  • 2. INDUSTRY OVERVIEW Over the past several decades, the concept of bioeconomy has increasingly captured the world’s attention as an important means of supporting sustainable development and contributing to the global economy. In 2015, there are over 49 countries around the world planning to adopt or practicing biorelated policies1 to transition from fossil fuels to a greener and cleaner biobased economy. THAILAND’S BIOECONOMY INDUSTRY The Royal Thai Gover nment recognizes the importance of sustainable economic development. Various policies have been introduced to address technological, economic and institutional challenges to move the country towards a sustainable biobased economy. Source: 1, 2 The Organization for Economic Co-operation and Development (OECD) The OECD defines bioeconomy as the economic activities relating to the invention, development, production and use of biological products. This includes, but is not limited to the applications of biotechnology to agriculture, industry and health. The bioeconomy is expected to play an increasing role in developing a greener economy and is estimated to contribute 2.7% to global GDP by 2030.2 2.7% 2008-2015 National Bioplastic Roadmap A national agenda to establish a complete supply chain for the bioplastic industry in Thailand. The policy focused on the development of R&D, supporting infrastructure and innovative businesses for bioplastics. 2012-2036 Alternative Energy Development Plan This plan aims to cut the country’s dependence on imported fossil fuels with domestically produced renewable energy. 2015 - NOW Thailand 4.0 and the New S-Curve The new “Thailand 4.0” growth model focuses on the concept of inclusive, productive and green growth to enhance the country’s competitiveness and economic development. Under the model, 10 industries are issued as the new economic growth engines of which the five new industries are Robotics, Medical Hub, Aviation and Logistics, Digital and Bioeconomy. 2004-2021 Thailand’sNationalBiotechnology Framework The framework includes a policy of Green Innovations for Economic Security, Competitiveness and a Healthy Society and targets 4 critical sectors: Food and Agriculture, Medicine and Health, and Bioenergy and Biobased Industries. Plant Breeding Development Animal Farming Diagnosis of Diseases Agriculture Bioenergy Biochemicals Biofuels Industry Diagnostic Kits Stem Cell Technology Biopharma- ceuticals Health
  • 3. Bioeconomy - a National Agenda As one of the new economic growth engines, the Ministry of Industry gives a precedence to bioeconomy, utilizing Thailand’s rich biodiversity and strong chemical manufacturing industry. Moreover, the National Science Technology and Innovation Policy Office (STI) works together with the National Center for Genetic Engineering and Biotechnology (BIOTEC) to formulate the National Biotechnology Policy Framework 2012-2021. The policy framework’s objectives are to develop strategic planning, establish future R&D, and enhance the country’s ability to access new technologies and applications of biotechnology. The framework includes 4 different sectors which are agriculture and food, medical and public health, bio energy, and bio industries. Bioindustries Bioindustries are industries that are developed on the advancements of biotechnologies. The four major bioindustries are; bioenergy, biofuels, biochemicals and bioplastics. BIOENERGY Energy consumption in Thailand increased by about 4% since 2010*. Total energy expenditure in 2014 was US$63.23 billion**, 2.6% higher than in 2013. The country is also heavily dependent on imported energy, with over 57% of energy purchased from overseas sources in 2014.1 Reducing the country’s dependence on foreign energy sources is one of the focuses of the government to strengthen economic stability. The country’s first alternative energy plan was introduced in 2012 to address energy concerns through renewable alternatives and bioenergy. Source: 1 Energy Policy and Planning Office, Ministry of Energy Note: * Compound Annual Growth Rate (2010-2014) ** Exchange Rate = THB 34.80/US$ as of 1st September 2016; Source: 1 The National Center for Genetic Engineering and Biotechnology (BIOTEC) Note: * Exchange Rate = THB 34.80/US$ as of 1st September 2016 Bioeconomy: 10-Year Goals1 Reduction in CO2 Emissions Increase in Income for Farmers Employment Rate Sugarcane Value Added Cassava Value Added BioEnergy > 70 million tons Increase to US$ 1,868 - 2,443*/year Sugarcane >300,000 Households Cassava >500,000 Households > US$8.67 billion*/year > US$2.89 billion*/year >30 million kilotons of oil equivalent (ktoe) (in 20 years) Bioenergy Consumption TheAlternativeEnergyDevelopmentPlan (AEDP) 2015-2036 is the second phase of the country’s long-term roadmap towards attaining a greener economy. The AEDP provides a blueprint and target for the government and related sectors to analyze, identify and replace fossil fuels with renewable energy. The target for bioenergy consumption is 24% of energy consumed domestically.1
  • 4. Bioenergy Domestic Consumption: 2014 & 2036F1 AEDP 2015-2036 Targets Sources: 1, 3 Energy Policy and Planning Office, Ministry of Energy; 2 Petroleum Institute of Thailand Note: Biogas consumption is included in bioheat. Thailand is the ASEAN leader in biofuels production with over 3.5 million liters of ethanol and 3.3 million liters of biodiesel produced daily.2 In 2014, biobased energy already accounted for approximately 9% of total energy consumed in Thailand.3 Successful Companies Mitr Phol Group was initially established in 1956 in Ratchaburi province, Thailand. The company applies innovation and technology to develop its business from sugar to renewable energy, wood substitute materials, and Bio-based products under the concept of value creation. In present, the Group has expanded its business into the People’s Republic of China, Lao People’s Democratic Republic and Australia. Patum Vegetable Oil (PVO) was established in 1975. The company has since become one of Thailand’s leading palm and coconut refineries, offering a wide range of edible oils, food additives, biodiesel and refined glycerine products. After years of extensive R&D, the company entered the biodiesel sector in early 2006 and established its first biodiesel plant. PVO, together with Shell Thailand, also runs a joint project to provide financial and operational support for preparing palm oil crushing mills and smallholder farmers in the south of Thailand for the Roundtable on Sustainable Palm Oil (RSPO) certification and raising the Thai palm oil industry to global standards. 5% Biofuels 18% Bioheat 1% Bioelectricity Other Key Players Company Name Main Products Kaset Thai International Sugar Corporation Sugar, molasses, pulp, bio fertilizer, ethanol, electricity, and agricultural machinery services Thai Roong Ruang Sugar Group Sugar Energy Absolute Biodiesel and glycerine through solar and wind power plant Khon Kaen Sugar Industry Sugar, ethanol, bio-fertilizer, and electricity AI Energy Premium gasoline, marine gas oil, automotive gas oil, kerosene, liquefied petroleum gas, and residual fuel oil 76% 89% 8% 18% 5% 2% 1% 1% Fossil Fuels Bioheat Biofuels Bioelectricity ktoe 75,804 ktoe 131,000 2014 2036
  • 5. The government also plans to help increase market demand of PLA in food packaging, especially in single-use packaging, functional film and frozen ready-meal packaging by 25% of current usage.4 Biochemical Industry Overview1 BIOCHEMICALS Biochemistry covers a wide range of scientific disciplines, including genetics, microbiology, plant science and pharmaceuticals. Because of its comprehensive breadth, there is the continuous need for development and research for new applications and potential market opportunities. Source: 1 Petroleum Institute of Thailand Note: * Exchange Rate = THB 34.80/US$ as of 1st September 2016 Source: 1,4 Public-Private Partnership 2,3 Petroleum Institute of Thailand Note: * Exchange Rate = THB 34.80/ US$ as of 1st September 2016 ** BDO = 1.4-Butanediol *** BSA = Bovine serum albumin The Development of Bioplastics As part of the Bioeconomy roadmap, the Thai government, in collaboration with major industry players PTTGC and Mitr Phol, aims to invest over US$2.87 billion* to establish the country’s first Biorefinery complex beginning in 2018.1 The plant will increase Polybutylene succinate (PBS) productivity by five times and almost double Polylactic acid (PLA) production capacity.2 It will also help the country to cut down its reliance on Biochemical commodities. PLA demand is expected to increased by roughly 25% Current Biochemical Production in Thailand Biochemicals Fatty Acids/Alcohol PBS (Polybutylene Succinate) PLA (Polylactic Acid) PBAT (Polybutyrate) PHA/PHB (Polyhydroxyalkanoate/ Polyhydroxybutyrate) Oleochemicals Surfactants Lactic Acids BDO (Butanediol) Succinic Acids Bioplastics Produced from Sugars & Starch Produced from Palm Oil Currently Underdeveloped Produced from Petroleum Proposed Biorefinery Complex: Production Capacity3 Sugar Cane 1.1 million rai PLA 250 kilotons/year Sugar Cane Mill 11 million tons/year BDO** 100 kilotons/year BSA*** 205 kilotons/year Lactic Acid 330 kilotons/year PBS 100 kilotons/year Feedstock Biochemicals Bioplastics 2,400 Jobs created 30% Growth expected in the Bioplastics market 0.48TPA CO2 reduced 928USD Income per year
  • 6. Pharmacy & Fine Chemicals Food and Feed Chemicals and Materials Energy: Biofuels, Electricity and Heat VOLUM E VALUE Source: 1, 3 Council of University Presidents of Thailand ( CUPT ) 2 Thomson Reuters 4, 5 D5 working team under Thailand’s Public-Private Partnership; Note: * Exchange Rate = THB 34.8/ US$ as of 1st September 2016 Successful Companies Corbion is the global leader in lactic acid, lactic acid derivatives and lactides. With its largest production plant based in Thailand, Corbion will be able to leverage the plentiful sugar resources available to become the largest PLA producer in the world. To accelerate its growth in the bioplastic arena, the company will invest over US$100 million* in its new PLA polymerization and Lactide plants, which will open for operations in late 2018. The plant will increase global PLA production capacity by a further 75 kilo tons per annum. Multibax is an award-winning, world- class plastics manufacturing company specializing in biodegradable plastic bag production. Established in 1995, the company has expanded its operation to five factories with an annual production capacity of over 24,000 tons of plastic bags. Trusted by customers worldwide, the company’s biodegradable plastic bag, MBIO-2, is certified by four international certification bodies; DIN CERTCO (Germany), VINCOTTE (Belgium), FSWA (Finland) and BPI (USA). In 2016, Multibax established a co-research project with Burapha University, the Biodiversity-Based Economy Development Office (BEDO) and the National Research Council of Thailand (NRCT) to set up a pilot scale production for BioSuccinic acid, the starting material for PBS (BioPlastic resin) production. BIOPHARMACEUTICAL Thailand aims to become ASEAN’s Biopharmaceuticals and Advanced Vaccine Hub by 20261 and join the US$1 trillion global pharmaceuticals supply chain.2 Over 14.6 million patients across ASEAN and 98% of Thai patients are unable to afford imported medicines.3 To reduce their costs, Thailand aims to decrease its import dependency by 30% and increase its pharmaceutical export value to over 75,000 million Thai baht within the next 10 years.4 This US$63.22 million industry*,5 requires intensive R&D and technological investments to achieve its ambitious goals. This presents an enormous opportunity for foreign investors to explore the market and enjoy tremendous growth potential. Moreover, Thailand has developed several biotechnology programs, especially in alternative disease solutions, for many emerging and tropical diseases. Thailand has successfully developed number of vaccines, including tetanus, pertussis, and hepatitis B. The country is also one of the leading countries in stem cell research in Southeast Asia. Research in Vaccine Development With high-caliber researchers, vaccine developers and a vast amount of agencies working in the field of vaccine research and development, Thailand is now becoming the leader of vaccine development in ASEAN. Some successfully developed projects include 5-in-1 or ‘cocktail’ vaccine, H5N1 avian influenza vaccine, dengue vaccine. Dengue Vaccine NSTDA researchers have also developed a dengue vaccine to address and prevent dengue fever, the disease of high fatality rate. The vaccine is aimed for use in indigenous population as well as populations along Thailand’s border regions. 5-in-1 or ‘Cocktail’ Vaccine Many vaccines have been developed by the Thailand’s NSTDA in collaboration with BIONET Asia. For instance, the 5-in- 1 or ‘Cocktail’ vaccine against 5 major infectious diseases, diphtheria, tetanus, pertussis, hepatitis B, and meningitis has been successfully developed and is expected to be released to the market in 2017.Note: * Exchange Rate = Euro 0.89/US$ as of 1st September 2016 Other Key Players Manufactures and sells Oleochemical and Fatty Alcohol products, which are used for producing home and personal care Provider of fatty alcohol ethoxylate, a key ingredient in the manufacture of various personal hygiene products Produces methyl ester, which is used as an ingredient in biodiesel Provider of starch derivatives, used as an ingredient in food, cosmetic, and pharmaceutical products Provider of compostable bioplastic material with fast tracking solution for customer Provider of bio-plastic resins and products World-class provider of food additive, including food grade Citric Acid and Citrate Provider of citric acid Thai Fatty Alcohol Thai Citric Acid
  • 7. H5N1 Avian Influenza As part of the National Flu Pandemic Preparedness Plan, the GPO H1N1 PLAIV vaccine approved by the Thai FDA in 2011, followed by the “FluVac” H5N2 and the IIV seasonal vaccines currently under clinical trials and an establishment of an industrial- scale influenza vaccine production plant in Saraburi province have clearly demonstrated the successful accomplishment of GPO in influenza vaccine production. Natural Product Research in Thailand Functional Food Thai scientists have begun investigating the subtle action of biologically active food components on human health. Additional research aims to validate the efficacy of these food components and establish appropriate dietary levels. Thai researchers have identified functional food components that may improve memory, reduce arthritis, lessen cardiovascular disease and provide other benefits typically associated with utilizing prescription drugs. Thailand is making a great deal of progress with respect to functional foods and molecular nutrition, both novel scientific paradigms that challenge traditional nutrition approaches. Stem Cell Technology Thailand is one of the leaders in stem cell research in Southeast Asia. Many well-known stem cell studies has been conducted by both public and private institutions. For instance, Chulalongkorn University successfully produced human embryonic stem cells, Police General Hospital developed adult stem cells to treat arthritis sufferers while Siriraj Hospital discovered a method to extract stem cells from human amniotic fluid. Thailand is also one of the leaders in stem-cell banking. Currently, there are five leading stem-cell banking companies in Thailand. In 2012, the country first embryonic stem-cell bank was established by Chulalongkorn University (supported by TCELS). WHY INVEST IN THAILAND? Abundant Resources and Biodiversity Thailand’s rich natural resources have solidified the country’s reputation as the leading global supplier of agriculture products such as cassava, sugarcane and palm oil. These commodities, as well as their waste byproducts, can be utilized as biomass which is a critical source for biobased energy and other biobased products. 1st World’s No.1 exporter of cassava products 2nd World’s No.2 sugar exporter Thailand’s Biodiversity at a Glance Located in the heart of the ASEAN region and the Indo-Burma biodiversity hub, Thailand has one of the world’s richest biodiversities with over 13,500 species of plants, 52% of which are endemic.1 Source: 1 National Center for Genetic Engineering and Biotechnology Note: * Exchange Rate = THB 34.8/ US$ as of 1st September 2016 Indo-Burma region’s No.1 largest plant biodiversity area 8 - 10% of the world’s micro-organism species 8% The world’s plant species (approximately 15,000 species)Successful Companies BioNet-Asia is a leading vaccine company focusing on technological innovation and global market access. The company supplies more than billion doses of vaccines worldwide. At its cutting-edge plant in Thailand, BioNet is developing a unique expertise in genetic engineering, protein conjugation and vaccine formulation for various diseases, such as diphtheria, tetanus, pertussis, meningitis and hepatitis B. Siam Bioscience is a life-science company focusing on R&D, manufacturing, and the commercialization of pharmaceutical and biopharmaceutical products. With over 1,600 sq.m. FDA GMP and PIC/S GMP standards compliance laboratory areas, the company is equipped with world-class researchers from all around the world. The company also joined forces with Mahidol University in developing and transferring advanced technologies. With many biopharmaceutical products under development, Erythropoietin Alfa and Filgrastim are currently the company’s marketable products.
  • 8. BIOFUEL Modern Farming In addition to the tremendous biodiversity and plentiful biocrops, Thailand’s expertise in plant breeding and agricultural improvements are the keys to its competitiveness. There currently are over 1,440 plant breeders and seed technologists.1 Inspired to become ASEAN’s seed hub, the government introduced numerous support and training initiatives to nurture the development of the agriculture sector. In 2011, Mitr Phol’s pilot modern farm was introduced in Suphan Buri province. The project now includes a sugarcane farm of over 1,000 rai in the central province of Thailand. Source: 1 Thailand Advanced Institute of Science and Technology 2 National Center for Genetic Engineering and Biotechnology Note: * Exchange Rate = THB 34.8/ US$ as of 1st September 2016 Skilled and Ready Workforce Through government’s generous supportandstrongcooperationbetween sectors, workforce development in Thailand has become the driving force for development of the bioeconomy sector. The current human development program aims to further grow the number of workers and experts, and to have at least 10,000 bioscience students.3 Strong Supply Chain To establish a successful Bioeconomy supply chain, the government is committed to playing a vital role in directing the national agenda. The successful Eastern Seaboard Source: 1 Office of the Higher Education Commission 2 The National Center for Genetic Engineering and Biotechnology (BIOTEC) 3 Thailand Advanced Institute of Science and Technology The government, along with the private sector and research institutions, has already cooperated in improving agricultural production and efficiency by applying advanced technologies such as precision farming, SNP Genotyping and Tissue Culture technology. One of the noteworthy projects is the US$2.30 million Mitr Phol – National Science and Technology Development Agency (NSTDA) joint research project on sugarcane breeding and development.2 model will be used as a masterplan, focusing on R&D and collaboration among the different sectors, applying this experience to Bioeconomy, the country’s next leading industry. 40,000 /year Science graduates in Thailand 22,419 /year Engineers graduate in Thailand1 >1,500 Biotechnology experts and researchers2
  • 9. SUPPORTING FACILITIES To provide continuous support to the development of a well-qualified workforce, the Royal Thai government, in collaboration with educational institutions and the private sector is offering various resources for research and development, human resources training as well as dedicated biotechnology related faculties in over 22 leading academic institutions. Associations and Institutions Research Centers Biochemical Engineering and Pilot Plant Research and Development Laboratory King Mongkut’s University of Technology, Thonburi MU-OU: CRC  Collaborative Research Center for Bioscience and Biotechnology Faculty of Science, Mahidol University Cassava and Starch Technology Research Laboratory Kasetsart University Marine Biotechnology Laboratory Faculty of Science, Chulalongkorn University Medical Biotechnology Research Laboratory Faculty of Medicine, Siriraj Hospital Plastics Institute of Thailand Promotes and enhances the Thai plastics industry’s competencies through R&D and product testing services. Department of Science Service Provides professional R&D, product testing and HRD support through state-of-the-art technology. National Science and Technology Development Agency Supports R&D in 5 target areas, including agriculture and food, energy and environment, health and medicine, bioresources and community, and manufacturing and service industries Thai Bioplastics Industry Association Assists in the development of the Thai Bioplastics industry to reach international standards and promotes networking within the Bioplastics community. National Innovation Agency Supports R&D of innovative products and embeds the innovative strategic direction of firms. Petroleum Institute of Thailand Facilitates the Thai petroleum market and supports research, HRD and the development of the Thai petroleum and petrochemical industries. The National Center for Genetic Engineering and Biotechnology Supports R&D, policy research, and international relations in agricultural, biomedical and environmental sciences. Thailand Institute of Scientific and Technological Research Promotes and enhances innovations in science and technology R&D capabilities for commercialization and social benefits.
  • 10. Non-Tax Incentives These activities also receive the following non-tax incentives: INVESTMENT INCENTIVES BOI Incentives BOI recognizes the importance and value of the bioeconomy industry, and offers a wide range of tax and non-tax incentives for projects that meet national development objectives. Note: *Exemption of import duty on raw or essential materials and machinery used in manufacturing export products Note: *Exemption of import duty on raw or essential materials and machinery used in manufacturing export products Tax Incentives Bioenergy GROUP ELIGIBLE ACTIVITIES INCENTIVES Corporate income tax exemption Exemption of import duty* A1 Production of electricity or electricity and steam from garbage or refuse derived fuel 8 years (No Cap)  A2 Production of electricity or electricity and steam from renewable energy, such as solar energy, wind energy, biomass or biogas, etc. except from garbage or refuse derived fuel 8 years  Biofuels GROUP ELIGIBLE ACTIVITIES INCENTIVES Corporate income tax exemption Exemption of import duty* A2 • Manufacture of fuel from agricultural products • Manufacture of fuel from agricultural scrap or garbage or waste 8 years  A3 Manufacture of biomass briquettes and pellets 5 years  Bioplastics GROUP ELIGIBLE ACTIVITIES INCENTIVES Corporate income tax exemption Exemption of import duty* A2 • Manufacture of eco-friendly chemicals or polymers or manufacture of products from eco-friendly chemicals or polymers that is incorporated within the same project as the manufacture of eco-friendly chemicals or polymers • Manufacture of specialty polymers or specialty chemicals 8 years  A3 Manufacture of products from eco-friendly polymers 5 years  Biotechnology Research and Development GROUP ELIGIBLE ACTIVITIES INCENTIVES Corporate income tax exemption Exemption of import duty* A1 • Research and development activity and/or manufacturing, using biotechnology of • seed industry • improvement of plants • Animals • microorganisms using biotechnology • biopharmaceutical agents using biotechnology • diagnostic kits for health, agriculture, food and environment • biomolecules and bioactive substances using microorganisms, plant cells and animal cells • Manufacture of raw materials and/or essential materials for molecular biological research and development, experiments, testing or quality control services and/or production of biological substances • Biological substance analysis and/or synthesis services and/or quality control services and/or product validation services 8 years (No Cap)  Permit to bring in expatriates Permit to own land Permit to take or remit foreign currency abroad
  • 11. CONTACT US HEAD OFFICES OFFICE OF THE BOARD OF INVESTMENT 555 Vibhavadi-Rangsit Road, Chatuchak, Bangkok 10900 Tel: +66 (0) 2553-8111 Fax: +66 (0) 2553-8315 Website: www.boi.go.th Email: head@boi.go.th ONE START ONE STOP INVESTMENT CENTER (OSOS) 18th Floor, Chamchuri Square Building, 319 Phayathai Road, Pathumwan, Bangkok 10330 Tel: +66 (0) 2209-1100 Fax: +66 (0) 2209-1199 Website: osos.boi.go.th Email: osos@boi.go.th ONE STOP SERVICE CENTER FOR VISAS AND WORK PERMITS 18th Floor, Chamchuri Square Building, 319 Phayathai Road, Pathumwan, Bangkok 10330 Tel: +66 (0) 2209-1100 Fax: +66 (0) 2209-1194 Email: visawork@boi.go.th REGIONAL OFFICES REGIONAL INVESTMENT AND ECONOMIC CENTER 1 CHIANG MAI OFFICE Airport Business Park 108-110, 90 Mahidol Road, Amphur Muang, Chiang Mai 50100 Tel: +66 (0) 5329 4100 Fax: +66 (0) 5329 4199 Email: chmai@boi.go.th PHITSANULOK OFFICE 3rd Floor, Thai Sivarat Building, 59/15 Boromtrilokkanat 2 Road, Naimuang, Amphur Muang, Phitsanulok 65000 Tel: +66 (0) 5524-8111 Fax: +66 (0) 5524-8777 Email: phitsanulok@boi.go.th REGIONAL INVESTMENT AND ECONOMIC CENTER 2 NAKHON RATCHASIMA 2112/22 Mitraphab Road, Amphur Muang, Nakhon Ratchasima 30000 Tel: +66 (0) 4438 4200 Fax: +66 (0) 4438 4299 Email: korat@boi.go.th REGIONAL INVESTMENT AND ECONOMIC CENTER 3 KHONKAEN 177/54 Moo 17, Mitraphab Road, Amphur Muang, Khonkaen 40000 Tel: +66 (0) 4327 1300-2 Fax: +66 (0) 4327 1303 Email: khonkaen@boi.go.th REGIONAL INVESTMENT AND ECONOMIC CENTER 4 CHONBURI 46 Moo 5 Laem Chabang Industrial Estate, Sukhumvit Road, Toongsukhla, Sriracha, Chonburi 20230 Tel: +66 (0) 3840 4900 Fax: +66 (0) 3840 4997, +66 (0) 3840 4999 Email: chonburi@boi.go.th REGIONAL INVESTMENT AND ECONOMIC CENTER 5 SONGKHLA 7-15 Chaiyong Building Juti Uthit 1 Road, Hadd Yai, Songkhla 90110 Tel: +66 (0) 7458 4500 Fax: +66 (0) 7458 4599 Email: songkhla@boi.go.th REGIONAL INVESTMENT AND ECONOMIC CENTER 6 SURAT THANI 49/21-22 Sriwichai Road, Makhamtia, Amphur Muang, Surat Thani 84000 Tel: +66 (0) 7740 4600 Fax: +66 (0) 7740 4699 Email: surat@boi.go.th OVERSEAS OFFICES SHANGHAI Thailand Board of Investment, Shanghai Office Royal Thai Consulate General, No. 18, Wanshan Road, Changning Distric, Shanghai 200336, P.R.C. Tel: +86-21-5260-9876, +86-21-5260-9877 Fax: +86-21-5260-9873 Email: shanghai@boi.go.th BEIJING Thailand Board of Investment, Beijing Office Royal Thai Embassy, No.40 Guang Hua Road, Beijing 100600 P.R.C. Tel: +86-10-6532-4510 Fax: +86-10-6532-1620 Email: beijing@boi.go.th GUANGZHOU Thailand Board of Investment, Guangzhou Office Investment Promotion Section, Royal Thai Consulate-General, No.36 Youhe Road, Haizhu District, Guangzhou, P.R.C. 510310 Tel: +86-20-8385-8988 Ext. 220-225, +86-20-8387-7770 (Direct line) Fax: +86-20-8387-2700 Email: guangzhou@boi.go.th TAIPEI Thailand Board of Investment, Taipei Office Taipei World Trade Center, 3rd Floor, Room 3E 39-40 No.5 Xin-Yi Road, Sec. 5 Taipei 110, Taiwan R.O.C. Tel: +886-2-2345-6663 Fax: +886-2-2345-9223 Email: taipei@boi.go.th TOKYO Thailand Board of Investment, Tokyo Office Royal Thai Embassy, 8th Floor, Fukuda Building West, 2-11-3, Akasaka, Minato-ku, Tokyo 107-0052 Japan Tel: +81 (0) 3-3582-1806 Fax: +81 (0) 3-3589-5176 Email: tyo@boi.go.th OSAKA Thailand Board of Investment, Osaka Office Royal Thai Consulate-General, Bangkok Bank Building, 7th Floor, 1-9-16 Kyutaro-Machi, Chuo-Ku, Osaka 541-0056 Japan Tel: +81 (0) 6-6271-1395 Fax: +81 (0) 6-6271-1394 Email: osaka@boi.go.th SEOUL Thailand Board of Investment, Seoul Office #1804, 18th Floor, Koryo Daeyeongak Center, 97 Toegye-ro, Jung-gu, Seoul, 100-706, Korea Tel: +82-2-319-9998 Fax: +82-2-319-9997 Email: seoul@boi.go.th MUMBAI Thailand Board of Investment, Mumbai Office Express Tower, 12th Fl., Barrister Rajni Patel Marg, Nariman Point, Mumbai, Maharashtra 400021 Tel: +91-22-2204-1589-90 Fax: +91-22-2282-1525 Email: mumbai@boi.go.th NEW YORK Thailand Board of Investment, New York Office 7 World Trade Center, 34th Floor, Suite F, 250 Greenwich Street, New York, New York 10007, U.S.A. Tel: +1 (0) 212 422 9009 Fax: +1 (0) 212 422 9119 Email: nyc@boi.go.th Website: www.thinkasiainvestthailand.com LOS ANGELES Thailand Board of Investment, Los Angeles Office Royal Thai Consulate-General, 611 North Larchmont Boulevard, 3rd Floor, Los Angeles CA 90004, U.S.A. Tel: +1 (0)-323-960-1199 Fax: +1 (0)-323-960-1190 Email: boila@boi.go.th FRANKFURT Thailand Board of Investment, Frankfurt Office Investment Section, Royal Thai Consulate-General Bethmannstr. 58,5.0G 60311 Frankfurt am Main, Federal Republic of Germany Tel: +49 (069) 92 91 230 Fax: +49 (069) 92 91 2320 Email: fra@boi.go.th PARIS Thailand Board of Investment, Paris Office Ambassade Royale de Thaïlande 8, rue Greuze, 75116 Paris, France Tel: +(33-1) 56 90 26 00 Fax: +(33-1) 56 90 26 02 Email: par@boi.go.th STOCKHOLM Thailand Board of Investment, Stockholm Office Stureplan 4C 4th Floor, 114 35 Stockholm, Sweden Tel: +46 (0) 8463 1158, +46 (0) 8463 1174-75 Fax: +46 (0) 8463 1160 Email: stockholm@boi.go.th SYDNEY Thailand Board of Investment, Sydney Office Suite 101, Level 1, 234 George Street, Sydney, New South Wales 2000, Australia Tel: +61-2-9252-4884 Tel: +61-2-9252-4882 Email: sydney@boi.go.th Thailand Board of Investment www.boi.go.th Think Asia, Invest Thailand