Thailand is ramping up efforts to strengthen its biotechnology industry by offering generous incentives through its Board of Investment (BOI) under activity 1.6. The initiative targets biotechnology projects that apply advanced technology development processes within approved production or service industries and promote collaboration with academic or research institutions.
To qualify, projects must demonstrate the use of targeted technologies and commit to knowledge transfer through partnerships, such as with a Technology Research Consortium. The BOI’s strategy is to foster innovation and position Thailand as a leading biotechnology hub in Asia.
Key incentives for eligible biotech investors include a 10-year corporate income tax exemption with no limit on the exempted amount, duty-free import of machinery, research and development materials, and raw materials intended for export. Approved projects can also enjoy land ownership rights and benefit from more flexible regulations for hiring foreign experts and bringing in skilled professionals.
These benefits reflect Thailand’s broader ambition to drive industrial innovation, boost economic competitiveness, and stimulate investment in high-potential sectors by aligning business and research priorities.
