Thailand to grant more incentives for bioplastic production

As part of the BOI’s plan to transform Thailand into a leading bioplastic producer, the government agency announced that more incentives are being granted to those engaged in the production of bioplastic. Acting Secretary-General of the BOI, Hirunya Suchinai, said that Thailand is providing all that are needed to promote and push bioplastic into one of the country's leading industries in the future. Thailand presently has all the main materials needed as inputs for bioplastic production, such as sugarcane and cassava.  

To promote the industry the BOI is planning to lower production costs and expand  investment-related incentives. The BOI will also request the Ministry of Energy to reduce the costs of power and natural gas for companies in the bioplastic industry.  

As for the investment promotion scheme, the BOI would reduce import tariffs for imported materials by up to 90% for the next 3 years, or until there is a manufacturer for those materials. Policies are expected to be implemented starting June.  

At present, Purac (Thailand) Co. Ltd., invests in the bioplastic industry in Thailand.