
The budget will be offered to between seven and 10 universities for research purposes.
"The Cabinet has already approved the plan," Education Minister Jurin Laksanawisit said yesterday.
He said the fund would be given to qualified universities so they could boost their research capacities and enhance work of their researchers.
"Research has a direct impact on the country's competitiveness," Jurin said, explaining why the government would need to inject such a large amount of money.
He said the national research universities would complement Thailand's goal of establishing itself as an education hub in the region.
Jurin said interested higher-educational institutes must apply to the national-research universities programme between July 1 and July 10.
"The eligible institutes must sit among the world's top 500 universities in The Times Higher Education rankings in 2008," Jurin said.
In Thailand, only seven universities are among the top 500 institutes - Chulalongkorn, Mahidol, Kasetsart, Chiang Mai, Thammasat, Khon Kaen and Prince of Songkla universities.
"If they are not on the list of the world's 500 top universities, they must have demonstrated outstanding international research during the past five years. Their research must be recognised by the Times Higher Education and PhD holders must account for at least 40 per cent of their teaching staff," Jurin said.
Jurin said his ministry would announce which universities were accepted for the national-research-university programme in August.