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Tax perks for food cluster

The government is confident that attractive tax incentives will drive spending in research and development(R&D) by private companies in Food Innopolis and create hundreds of jobs.

Kitipong Promwong, the secretary-general at the National Science Technology and Innovation Policy Office, forecast 1.5 billion baht will be invested by private companies in Food Innopolis this year, creating 700-800 jobs.

As of March 16, 32 companies, including newcomers such as Japan's Otsuka, Malee Sampran Plc, CP Foodlab, Mitr Phol Innovation & Research Centre and Thanakorn Vegetable Oil Products, have invested 900 million baht in the food cluster and created 450 jobs.

Billed as an innovation and development centre aimed at increasing the value of the country's abundant crops, Food Innopolis was established last year on a 200 rai plot at the Thailand Science Park in Khlong Luang district in Pathum Thani, north of Bangkok. Read more : http://www.bangkokpost.com/business/news/1217785/tax-perks-for-food-cluster