To help the Bio-Circular-Green economic model succeed in its goal of driving Thailand's development, existing regulations have been improved and additional legislation has been formulated to standardize and control the quality of the implementation of the BCG. Moreover, a number of measures have been set that will incentivize both Thai and foreign investors, with the use of tax and financial benefits.
Tax benefits in the BCG model include tax exemptions for experts working in BCG research, reduction of import duties on raw materials used in research and development, and benefits for the modernization of machinery and for the use of special economic zones to promote community tourism.
In addition, several financial incentive measures have been set, such as the Smart Farmer Development Fund; promotion of new BCG entrepreneurs, such as bioplastic manufacturers (especially small plastic processors) and social enterprises that promote and support businesses in community tourist attractions; startups or entrepreneurs that are able to create additional value from waste products; providing support for waste processing businesses with high technology or that are modernizing their machinery; and subsidizing the development or transfer of technology from abroad through technology licensing or joint investment to extend research into industrial production.
Source : National Science and Technology Development Agency (NSTDA)
Tel : +66 2564 7000
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