Farmers and Research & Development Key to Thailand Development

[Jacob Maslow]

Prime minister, Prayut Chan-o-cha, hinted that farmers and R&D are the key to sustainable growth in Thailand. New tax incentives have been proposed.

Prime Minister Prayut Chan-o-cha hinted that research and development investments are a priority for the country’s development. Farmers were also mentioned on Friday as a core part of sustaining Thailand’s growth in coming years.

Research & Development proposals have been made to increase deductions for R&D from 200% to 300% on taxable income.

Current figures show that R&D is just 0.37% of the country’s gross domestic product. In comparisons, Asia’s R&D makes up 1.6% of the country’s GDP. In China, these figures swell to 3.8% and in South Korea, 3.4%.

The prime minister stated that the goal is to rise the country’s R&D to at least 1% of the country’s GDP.

Thailand’s private sector is the aim of the proposed incentives. The country has increased research spending by 20 billion baht in the past 3 years. The prime minister stated that he would like to see private sector research make up 70% of the country’s current R&D instead of 30%, which is the current figure.

Empowering farms is also on the country’s agenda. The goal is to help struggling farms in an effort to boost their bargaining power, product prices and marketing avenues.

Educating farmers to improve product quality and prices is also in the works. Immediate assistance is being offered through subsides. Agricultural zoning will help farmers further by allowing them to work directly with processing plants. Eliminating third-parties will allow farming to become more profitable.

There are currently 822 centres across the nation to help train young farmers.

Prayut Chan-o-cha plans to bolster the economy through farming and research and development. Tax incentives and proper education are two of the methods proposed thus far. Special Economic Zones are designated in 10 districts to entice investors with tax exemptions.

Trade and investment promotion with Japan is also expected to be finalized in the coming week.

-- 2015-02-07

[Lupatria]

The goal is to help struggling farms in an effort to boost their bargaining power, product prices and marketing avenues.

They developed, implemented and authorized the "middle man system" isn't that enough R&D?

[SouthernMan3]

Let's get real here.

So like how does this work ?

2 days ago rubber price Surat 51 bht./K.

http://www.thainr.com/en/index.php?detail=pr-local&selectmonth=02

Price 2013 81 bht/K.

http://www.thainr.com/en/?detail=pr-local

How does this "Empowering farms is also on the country’s agenda. The goal is to help struggling farms in an effort to boost their bargaining power, product prices and marketing avenues." work ?

I am already empowered.

What I want to know is the rest kap

P.S. Let us not forget 2011 and the days of the 180s.

http://www.thainr.com/en/index.php?detail=pr-local&selectmonth=02

I know there are some smart folks out there so, all input appreciated.