|
Biotech venture-capital funds proposed |
|
New venture-capital funds should be established to help support the growth of the biotechnology field in Thailand, according to Finance Minister Surapong Suebwonglee. Dr. Surapong, a medical doctor by training, told researchers that biotechnology represented the future of the world economy, following agriculture, industry and today's information technology age. ''Biotech will be the next wave of the future. Actually, Thailand has failed to truly benefit from today's IT revolution. But we have an opportunity to take advantage of the next wave,'' he said at a conference sponsored by the Thailand Centre of Excellence for Life Sciences (TCELS). Thailand's medical services industry has grown rapidly, with around half of the inpatients at leading Bumrungrad Hospital and Bangkok Nursing Hospital representing foreign medical ''tourists''. Dr. Surapong said Thailand had the capacity to develop into a world-class ''medical hub'', but needed to significantly increase its investment in research and development and human resources. He said by 2010, investment in the biosciences in Asia, including India, South Korea and Japan, was projected to reach $200 billion per year. Thailand's wide diversity of genetic resources and skilled labour force were key attractions for pharmaceutical and medical science companies, particularly considering that labour costs remained below that of the US and Europe. Dr. Surapong said, to support the development of the biotechnology sector, the TCELS would be upgraded to an independent organisation that would be able to offer venture-capital services to help support new businesses.
''We need to offer support for researchers looking to develop commercial
and industrial applications for their work,'' he said. |
|
Bangkok Post, 29.05.2008 |
