BANGKOK, May 30 (TNA) – Industry and Deputy Prime Minister Suwit Khunkitti on Thursday indicated he planned to persuade foreign investors to jointly invest in the life science industry in Thailand.

Delivering a special lecture on "Life Science Industry & Investment in Thailand," he said many countries in the world had now paid attention to investing in the life science industry.

Such an industry had generated revenue of up to US$300 billion worldwide. But the revenue had still converged in developed nations such as the United States, Canada, a number of European countries, Japan and China.

In 2006, many companies in these countries turned to do business in the industry. They had enjoyed a leapfrogging business growth of 42 per cent.

Malaysia, which is member of the Association of Southeast Asian Nations (ASEAN), had already invested around $26 million (about Bt830 million) in the industry. It expected to get returns of up to $10 billion (about Bt320 billion) in the coming decade.

Mr. Suwit said Thailand had made the move to invest in the life science industry accordingly.

He pointed out the life science covers not just a research on medicines, but also on all aspects regarding health and daily life of mankind.

The deputy premier said he believed Thailand is ready -- in terms of trained personnel, knowledge base, and investment fund -- to venture successfully into the life science industry.

He planned to talk foreign investors into jointly investing in the industry in Thailand. Now, many investors are keen to participate in joint investments.

Mr. Suwit indicated that he expected the investment in the industry would help generate revenues of at least Bt300 billion for the country each year.