Thailand
Thailand: BoI: Policy boost to R&D investment
Major global companies have started investing more in research and development (R&D) in Thailand, drawn by government policies to support investors, according to the Board of Investment (BoI).
Secretary-general Hirunya Suchinai said investment in R&D has reached 2.5 billion baht so far this year from the 17 projects approved by the BoI.
She said the projects are expected to be major tools that will help create innovations to push Thailand forward into the 4.0 era.
One of the 17 projects came from British company Haydale Technologies, which has started investing in graphene R&D.
Graphene is an allotrope of carbon in the form of a two-dimensional, atomic-scale, hexagonal lattice in which one atom forms each vertex. It is the basic structural element of other allotropes, including graphite, charcoal, carbon nanotubes and fullerenes. It is used to manufacture light emitting diodes, auto parts, electronic vehicles and spaceships.
“This R&D project was a cooperation between the British company and Thailand’s National Science and Technology Development Agency (NSTDA),” she said.
Ms Hirunya said the BoI expects R&D investment to increase substantially this year due to the government’s support, particularly through the BoI’s investment privileges to encourage foreign investors to invest in R&D in Thailand. The BoI set a new investment target of 550 billion baht in 2016 and aims to garner up to 600 billion baht this year.
Last year, the BoI endorsed incentives to support investment in targeted technologies. These include tax holidays of up to 13 years, longer than the eight years allowed for other businesses.
Investments eligible for tax incentives will be divided into two categories: four targeted core technologies (biotechnology, nanotechnology, advanced materials technology, digital technology) and enabling services, the latter including R&D, science and technology training and electronic design.
Source: http://www.bangkokpost.com/business/news/1211337/boi-policy-boost-to-rd-investment