Biochemical estate slated

The Industry Ministry plans to set up a new biochemical industrial estate, aiming to group the biochemical industries together to help increase demand for agricultural products to support farmers.

Industry Minister Uttama Savanayana has ordered a feasibility study on the planned estate, which is expected to be completed in two months and will be sent to the cabinet for approval.

“The government has a clear policy to promote new-generation industries and that includes biochemicals, which is among the targeted industries that will help move the country forward to the value-based Thailand 4.0 economic model,” he said.

The biochemical industry is one of the 10 targeted industries that the government aims to promote as it is expected to help boost demand and add value to agricultural products and lend support to farmers.

The 10 targeted industries are nextgeneration cars; smart electronics; affluent, medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; and medical services.

Developing biochemical industries could lead to improving related industries such as the bioenergy and food industries — part of the roadmap to the bioeconomy, said Mr Uttama.

“The biochemical estate is expected to be stand-alone, developed separately from the Eastern Economic Corridor zone, which is expected to accommodate other hightech industries,” he said.

With full state support, real investment in the biochemical industries is expected to start by this year.

Khon Kaen is expected to be the most likely location of the new biochemical industry estate as the province is a major grower of sugar cane and cassava, the two major commodities that can be developed into other bio-based products, he said.

The government expects investment in biochemical-related industries over the next 10 years would reach 400 billion baht and that would help increase the value of farm products as well as help farmers earn an additional 75,000 baht per person per year, said Mr Uttama.

That was in line with the World Economic Forum’s forecast that the global value of the bioeconomy is rising fast.