BoI approves B2.4bn in biotech incentives

BoI approves B2.4bn in biotech incentives

The Board of Investment (BoI) approved tax incentives for biotechnology projects worth 2.4 billion baht in the first quarter this year, aiming to use advanced technology to drive the national economy.

Last year companies applied for the tax privilege programme, submitting biotechnology investment projects for consideration worth more than 30 billion baht, a 233% increase from the value in 2019.

Companies that have been granted access to the BoI tax scheme this year operate businesses in medical and bioplastic fields, said BoI secretary-general Duangjai Asawachintachit.

Among them is Fruita Biomed Co, which received BoI approval for a project to produce Polyhydroxyalkanoate, or PHA, a bioplastic compound developed from organic waste. It aims to use PHA bioplastic to make a wide range of packaging products.

Genepeutic Bio Co, which was established by local investors and doctors from Ramathibodi Hospital in Bangkok, received approval for a project to develop and produce an innovative treatment for patients with acute lymphoblastic leukemia.

Do you like the content of this article?
COMMENT

Former police sergeant charged with attempted murder

SONGKHLA: A former police sergeant has been arrested for the attempted murder of a man shot in hut at a longan plantation in Rattaphum district on Sunday night.

10:05

Krungsri aims for 1m digital depositors by 2024

Kept by Krungsri, a digital savings platform under Bank of Ayudhya, aims to increase its depositors to 1 million by 2024 after receiving a positive response in its first year of operation.

09:36

Twitter bans sharing of photos without consent

SAN FRANCISCO - Twitter launched new rules Tuesday blocking users from sharing private images of other people without their consent, in a tightening of the network's policy just a day after it changed CEOs.

08:45