BCG ECONOMY AS ANSWERS TO MANY CHALLENGESIn response to global economic challenges and international commitments to address the climate change, Thailand is promoting Bio-, Circular and Green Economy (BCG) as a model to drive the economic growth which is in line with development towards a value-based economy. These industries serve the development of BCG which leverages on the country’s robust agricultural sector, advancing competitiveness in biotechnology and growing pool of skilled workforce. Thailand’s competitive advantages in BCG is on an improving trend as the public sector is pushing ahead plans to promote BCG industries and accelerate large investment projects in bioeconomy including biochemical and biorefinery facilities and technological upgrade in the food industry. This trend represents a significant opportunity for Thailand’s BCG economy. BOI Measures Driving BCG EconomyThe BOI is offering an exemption of corporate income tax for up to eight years to a comprehensive range of the agricultural biotechnology industries.

Source: Bangkok Post August 17, 2020 06:45 UTC