Thailand’s Bio-Circular-Green plan: feed grassroots to create sustainable economy
The Bio-Circular-Green (BCG) economy model is the key driver on Thailand’s path to sustainability and environmental preservation, the National Science and Technology Development Agency (NSTDA) said on Monday.
"The BCG economy model will have a significant impact on the economy, especially the grassroots economy," NSTDA president Sukit Limpijumnong said.
Thailand will promote BCG for post-Covid economic recovery when it hosts next month’s Asia-Pacific Economic Cooperation (Apec) summit.
BCG focuses on using technology to boost product value, reducing production losses and conserving the environment.
Sukit explained that BCG model consists of three elements:
– Bio Economy: producing renewable biological resources and converting them into value-added products.
– Circular Economy: reusing and recycling resources.
– Green Economy: keeping the economy, society and environment in balance for sustainable development.
He said these elements would enhance Thailand's food and agriculture, medical and wellness, energy material and biochemical, and tourism and creative economy sectors.
"All elements must go together to drive Thailand towards sustainability and environmental preservation.”
He said BCG planning was part of the 20-Year National Strategy aimed at forging a developed country with security, prosperity and sustainability. BCG would also drive Thailand’s pledge to meet the United Nations' Sustainable Development Goals. Sukit added that Thailand is working with domestic and international agencies on various projects related to the model, including the Eastern Economic Corridor of Innovation in Rayong's Wangchan Valley.
