Thailand has one of the most robust biotech industries in the ASEAN market, which is underpinned by incentives and the Thai Government's unwavering support of the sector.
Bangkok, Thailand (PRWEB) June 14, 2017
The Thailand Board of Investment (BOI) and the Thailand Center of Excellence for Life Sciences (TCELS) announces that they’re co-hosting a delegation from Thailand at BIO 2017 in San Diego, CA taking place June 19-22, 2017.
BIO, the largest biotech industry gathering in the world, regroups more than 1,100 biotech companies, academic institutions, state biotechnology centers and related organizations from across the United States and more than 30 other nations.
“The Thai government is excited to be attending BIO conference and will be joined by members from Thailand’s academia, research organizations and the private sector to showcase our country’s extensive Life Science assets and expertise,” said Ms. Ajarin Pattanapanchai, Deputy Secretary General of the Thailand Board of Investment, who will be attending BIO along with Dr. Nares Damrongchai, the CEO of TCELS. “Our goal is to promote Thailand’s capability in biotechnology and life sciences to support foreign business expansion in the region.”
Towards that end, BOI in co-operation with TCELS, will host an investment promotion seminar on Thailand’s Life Science, Medical and Biotech Industries, on Monday, June 19th, 2017 at the Hilton San Diego Bayfront from 2:30-4:30 pm. The event will highlight key growth areas and opportunities in Biotech and Life Sciences as well as business and partnering opportunities that can be found in Thailand.
There are 15 Thai companies, organizations, and universities that are part of the Thai delegation at BIO. One of these, Austrianova Thailand, offers live-cell encapsulation in bioinert polymers. Also in attendance is ACLIRES Bangkok, an independent phase I-IV Clinical Research Organization and Siam Bioscience, which focuses on commercialization of both pharmaceutical and biopharmaceutical products, especially in oncology, autoimmune disorders, cardiovascular, and metabolic disorders.
Thailand has one of the most robust biotech industries in the ASEAN market, which is underpinned by incentives and our Government’s unwavering support of the Life Sciences sector. Two of our areas of specialization are in agricultural biotech and public health. Thailand boasts over 200 biotech firms with a combined market value of over $2 billion and has led on ground-breaking research ranging from the nutritional enhancement of core crops, to diagnosing viruses in shrimp, and researching mosquito borne illnesses.
Supported by the BOI, biotechnology companies investing in Thailand are granted an 8-year corporate income tax exemption regardless of location and are not subject to a corporate income tax exemption cap. They are also eligible to receive an exemption of import duties on machinery and those that locate in science and technology parks can receive an additional five-year 50% corporate income tax reduction on net profits. Non-tax incentives are also available such as an expedited visa program to enable foreign experts and skilled technicians to receive work permits.
The Thailand Pavilion at BIO will be located at Booth 411.
The Thailand Board of Investment (BOI) is the investment promotion agency for Thailand that facilitates foreign direct investment. BOI’s services are free of charge and customized to help business succeed in Thailand. For more information, please visit http://www.boi.go.th and http://www.thinkasiainvestthailand.com