R&D spending 'to double' | Bangkok Post: business

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R&D spending 'to double'

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The National Science and Technology Development Agency (NSTDA) expects investment by the private sector in research and development (R&D) to double in the next three years, spurred by supportive government measures. 

An NSTDA survey found R&D spending by the private sector more than doubled to 21.1 billion baht in 2011 from only 10 billion in 2009 when the government launched support measures including a tax holiday for imported equipment and machinery, a 200% tax deduction for R&D budgets, grants for R&D activities and the establishment of R&D facilities at Science Park in Pathum Thani.

The R&D budget of all state agencies totalled 40 billion baht in 2011 or 0.3% of gross domestic product (GDP).

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