BCG ECONOMY THRIVING ON RICH BIODIVERSITY AND TECHNOLOGICAL STRENGTHSThailand is embracing the Bio-, Circular and Green Economy (BCG) model as a path towards more sustainable growth, which will be marked by more employment, higher people’s incomes and an eco-friendly society. A study by the Ministry of Higher Education, Science, Research and Innovation shows that the estimated value of activities in BCG economy could grow to one-fourth of the Thailand’s gross domestic products (US$ 137 billion)1 by 2025 from one-fifth at present2. The BOI has recently broadened eligible activities in the agribusiness industry to cover investment projects applying plant factory technology. Thriving Food and Farm TechnologyThe pandemic of the COVID-19 virus has underscored Thailand’s competitiveness as a major global exporter of food and processed food products as international shipments of these products have held up during the health crisis. Thailand aims to enhance diversification and differentiation of food products and upgrade more of them towards products of higher value such as future healthy food and functional ingredients which will use to produce healthy diets, medical food and cosmeceuticals.

Source: Bangkok Post July 29, 2020 13:41 UTC