The government-initiated Futureum, an innovation museum intended to inspire children to appreciate and study more science and technology, is scheduled to go before the cabinet for approval in the next two weeks.
Deputy Prime Minister Somkid Jatusripitak said Futureum will be built on a 51-rai plot in the Science Park in Pathum Thani province with a combined investment cost of 2.1 billion baht. Of this, 1.6 billion baht will come from the government and 500 million from private investors.
The building for the project is expected to cover 37,775 square metres, with exhibitions spanning 18,930 sq m. The Futureum is scheduled to open in three years and attract 760,000 visitors annually.
The Futureum has already been endorsed by the National Economic and Social Development Board.
The project is part of the government's goal of developing human resources in the field of science who can play a role in supporting the government's ongoing efforts to develop high technology and innovation.
Mr Somkid said he has called for Science and Technology Minister Atchaka Sibunruang to hold consultations with the Finance Ministry on offering double deductions for investment expenses from corporate income taxes for related private-sector investment.
He also suggested that the Science and Technology Ministry seek cooperation from private firms to help set up exhibitions at the Futureum.
Mr Somkid said PTT could help exhibit innovations in energy, while Thai Airways International could hold aviation exhibitions. Furthermore, Charoen Pokphand Group could hold exhibitions related to farming, Betagro could tackle food and the Rapid Mass Transit Authority of Thailand could handle expositions on transport innovation.
He said the government has also pledged to provide more annual funding to support growth of the science-related workforce.
"Training scientists is very important for technology and innovation development and the Thailand 4.0 scheme, which focuses on innovations both in the farm and industrial sectors," he said.
According to the Science and Technology Ministry, there are 160,000 scientific researchers in Thailand, 100,000 of whom are working in the government sector.
But the ministry said there are just 90,000 full-time researchers in the public sector and 50,000 in the private sector. The number of Thai researchers is 7-8 times smaller than in South Korea.
Mr Somkid said the ministry has also been instructed to team up with existing schools nationwide to facilitate scientific study. The government also vows to offer scholarships to that end.
Finance Minister Apisak Tantivorawong said tax incentives could be offered to a group of companies for R&D expenses. That proposal will go before the cabinet for approval in the coming weeks.
Companies that group together will be able to claim deductions for R&D expenses of 200-300%, depending on the particular case, Mr Apisak said.
The tax breaks will be given to companies that group together in conducting R&D in five business areas: food, agriculture and biotechnology; public health, healthcare and biomedical technology; robotics and smart devices; digital, Internet of Things and artificial intelligence; and creative economy, culture and lifestyle.
The Revenue Department already allows individual companies to claim deductions for R&D expenses from corporate income tax.