Pattaya Daily News

08 August 2010 :: 11:08:25 am 34726

Biotechnology Investors Targeted by Industry Ministry

In further bids to promote Thailand as the biotechnology hub of South East Asia, the Thai Industry Ministry recently revealed continued efforts by the government to promote biotechnological investment in the Kingdom through the Board of Investment.
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Bangkok, the 7th of August 2010: Thailand’s Board of Investment (BoI) is in the process of shifting its focus on granting investment promotions in the biotechnology field in attempts to promote Thailand as the regions leader in the field.

According to Thailand’s Industry Minister Chaiwuti Bannawat, the biotechnology field is considered a key target industry for Thailand’s future investment projects and the recently formulated investment plan.

Speaking at a seminar on “Investment Promotion for the Biotechnology Industry” Mr. Bannawat encouraged the BoI to continue with plans to promote the biotechnology field and its benefits in Thailand.

Despite the current biotechnology promotions being active since 2007, the industry remains relatively small in comparison to other nations. So far, nine projects have received the investment promotions, totalling a Bt299 million investment.

BoI Secretary-General Atchaka Sibunruang remarked on several factors affecting the expansion of the biotechnology industry including a significant dearth in entrepreneurial interest. “A key obstacle to promoting the business now is that entrepreneurs are indifferent with the biotechnology. Development of the business is only seen among research institutes and universities,” explained Mrs. Sibunruang.

Following the seminar, Mr. Bannawat revealed that it had been agreed to step-up efforts to make investors aware of Thailand’s biotechnology investment promotions and the benefits for investment in the Kingdom.

Reporter : John Weston   Photo : Internet   Category : Thailand News

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