The state agency is now working with the National Science and Technology Development Agency to grant privileges for the investments, which are deemed important in terms of increasing the Kingdom's competitiveness in line with the National Biotechnology Policy Framework written in 2004.

Science and Technology Minister Yongyuth Yuthavong said Thailand was ready to become the centre of biotech research and development and the major provider of biotechnology services in Asean.

He was addressing a seminar yesterday on "Role of the government in supporting R&D investment in biotechnology", held by the Science and Technology Ministry and the Industry Ministry.

Yongyuth said the country had presently focused more on bio-products such as bio-diesel or bio-medical treatment.

He said the government would set up essential infrastructure such as bio-parks to promote investment in R&D.

Board of Investment secretary-general Satit Chanjavanakul said the agency had provided incentives for biotech businesses by exempting import duties on machinery and providing an eight-year corporate-tax holiday.

It will also grant special incentives such as 50-per-cent corporate tax reduction for an additional five years if companies are located in the Science Park, he said.

Currently, some 100 bio-business companies are seeking incentives to invest in the country. These include Health Concepts International, Thera Vitae, Purac and MC Towa.

Chalida Ekvitthayavechnukul

The Nation