Arkhom calls focus on circular production process to promote BCG economic model
There is a need to focus on the Circular aspect of the BCG (Bio-Circular-Green) economic model for a sustainable future, Finance Minister Arkhom Termpittayapaisith said in his keynote address at the Isaan BCG Expo 2022.
Khon Kaen Innovation Centre (KKIC), Mitr Phol Group, and 50 alliance networks from both the public and private sectors joined forces to host the expo at the KKIC in December.
The event was held under the concept "Together to prosper" and the BCG model, which is considered an important national strategy.
“BCG is all about the environment, but the Circular part is important,” he said. “I think the scope of Circular is more than just about reducing carbon dioxide emissions, it is about the production process of products. We are talking about using resources without leaving any residue. Simply put, they circulate in the system,” he said.
Arkhom added that some businesses are starting to recycle more, such as high-value clothes made from plastic bottles recycled into fibre. He cited the example of the uniforms of Thai Smile Airways staff, air hostesses, and pilots being made from recycled fibre.
“It is a matter of taking advantage of biodiversity. I’ve always said that under the concept of a creative economy, there should always be creation and countries develop from change in keeping with this fast-evolving world,” he said.
The rise of Khon Kaen
Speaking of the host city, he said Khon Kaen had developed into a city of education with large factories. “In addition to the infrastructure, such as roads, highways, railways, airports, soon there will also be skytrains that will further make this a creative city.”
The Finance Minister spoke about his recent meetings at the Greater Mekong Subregion Ministerial Conference (GMS) and said that Khon Kaen is another important port city that connects Thailand to Asean member countries and countries in the Greater Mekong Subregion. He said the GMS meeting discussed promotion of trade, investment, transportation, and trade.
“Trade will focus on cross-border rules and facilitating goods and passengers to pass through the border.”
He said a trade and investment promotion working group was also proposed to secure investments to the sub-Mekong region, in terms of infrastructure — which are currently mostly government projects — to involve the private sector.
He said as the countries in the Mekong River Basin were are all agricultural economies, the GMS meeting discussed the use of digital technology in the agricultural sector.
“It is important for us is to expand our business into the Mekong region and then create investments on both sides,” Arkhom said, adding, infrastructure was still inadequate in terms of train connections. “We are currently in the process of accelerating construction, which is very close to Khon Kaen,” he said.
He added on stage that this would create changes for the city and play a role in creativity.
He said that any talk about agriculture is also about food. “Food safety and food security are our strengths,” Arkhom said.
Talking climate change
“Another critical point is climate change, which is a hot issue and it's a topic that we've been talking about for about 20 years. Carbon dioxide emissions and climate issues cause temperatures in the world to increase and they have an effect on the economy. In fact, there are many studies that show increase in temperature by each degree has an effect on GDP,” he said.
The issue of methane emissions in our agriculture also affects the climate. Therefore, participating in the world's agenda is important. “What we do is not only aimed at reducing carbon dioxide emissions but in being more environmentally friendly,” he said.
He added that the great amount of research available is an opportunity for Mitr Phol Group's project to connect with universities in terms of R&D and innovation in the agricultural sector, and biotechnology.
The Isaan BCG Expo 2022 aimed to facilitate the transformation of Thailand's largest region into a hub for economic growth in Asean, utilising the BCG model. The collaboration brought together a diverse range of experts and stakeholders, all committed to uplifting the Thai economy and unlocking its full potential.
With the Isaan BCG Expo 2022 serving as a platform for innovation and collaboration, participants were able to explore new opportunities and forge partnerships.
