Government to push MSMEs to embrace BCG model

He made the remarks during the opening of the Asia-Pacific Economic Cooperation (Apec) BCG Symposium 2022.

He explained that the BCG model includes three essential elements:

Bio-economy: Using biodiversity to boost the economy.

Circular economy: Using resources effectively and in an environmentally friendly way in line with 3Rs: reduce, reuse, recycle.

Green economy: Developing manufacturing and service sectors to become environmentally friendly.

Thailand added the BCG model to the national agenda on January 19 last year, which is in line with the United Nation's Sustainable Development Goals (SDGs), he said.

He added that many countries have implemented plans in line with SDGs, such as Australia's bio-industry development in Queensland, Singapore's zero-waste masterplan, China's five-year development plan and Canada's bio-digital convergence.

"Thailand's BCG model will generate beneficial outcomes for all economic zones worldwide," he said, "Today, we are focusing on enabling MSMEs to use the BCG model for environmentally friendly manufacturing and services."

He added that the Commerce Ministry has applied the BCG model category which covers various products and services, such as future products, functional foods, food supplements, organic foods and lifestyle products, to boost economic value.

In the past six months — from the fourth quarter of last year to the first quarter this year — trade value in this category has increased by seven times, he said.

He added that the ministry also hoped that the Apec BCG Symposium 2022 would enable its members to exchange knowledge and seek new cooperations in line with this year's theme: “Open. Connect. Balance”.