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Thailand's Bioeconomy Industry

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Thailand Board of Investment North America
Thailand Board of Investment North America

The Royal Thai Government 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.

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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