Bio-circular-green economy: Good for the World, Good for the Country
Thailand’s three leading public organizations have announced their commitmentto support and promote the country’sbio-circular-green economy(BCG) vision, while echoing their views on the critical role of BCG as a new driver for the economyand the path to the survival of the world.
Speaking at the Sustainability Expo 2022 held at the Queen Sirikit National Convention Center earlier this week, Dr. Chularat Tanprasert, Executive Vice President of the National Science and Technology Development Agency (NSTDA), said Thailand was very serious about pushing forward its bio-circular-green economy (BCG) vision for which the Prime Minister has himself taken chargeandassumedthe role of chairman of the executive committee. TheMinister for Higher Education, Science, Research, and Innovationchairsthe National BCG Driving Committee.
Noting that the target was to boost gross domestic product by one trillion baht by 2027,she said that the BCG vision wouldbe achievedthrough a collaboration of the four forces– the publicsector, the privatesector, communities, academic and research institutes, and international agencies. Eleven subcommittees have been set up to drive the BCG model in various sectors and aspects, including food, medical devices, medicinesand vaccines, energy material & chemical biology, and the tourism & creative economy sectors.
Chinawut Chinaprayoon. Executive Vice President at the Digital Economy Promotion Agency (depa), told the conference that since today’s economy wasdriven by platformsor the so-called sharing economy, depa would collaborate with other relevantparties including small and medium-sized enterprises, startups,and digital service providers to help Thailand accomplish its BCG goal, through building a supportive ecosystem.
“For example, indeveloping a Smart City, we have to utilize technologies to improvethe quality of life and createnew economic opportunities, and usedata to drive the city forward.”
“Foragriculture, we must empower farmerswith tools or a digital platform to help them reduce costsand wastewhile enhancing efficiency,” depa executive added.
The challenge is not a lack of technology but rather how to provide farmers with access to technology and convince them to adopt it.
“The productivity of our rice, sugarcane, tapioca, and rubber plantations is low even though we have technologies that are second to none. Adoption is the key challenge,” he said.
Among the possible solutions is coming up with somerole models in smart farming to persuade other farmers to follow, as well as encouraging the grouping of small farms so as to make their arable land viable for the application of drones, sensors, or other technologies.
With respect to the tourism sector, Chinawut said depa was collaborating with tourism operators to produce a platform that would provide a useful database for the industry. This would includea predictive capability.
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[From left] Dr. Chularat Tanprasert, Executive Vice President of The National Science and Technology Development Agency; Chinawut Chinaprayoon Executive Vice President at the Digital Economy Promotion Agency and Dr. Soraphol Tulayasathien, senior executive vice president of the Stock Exchange of Thailand.
(PHOTO Courtesy of Sustainability Expo 2022)[/caption]In his address to the Sustainability 2022 forum, Dr. Soraphol Tulayasathien, senior executive vice president of the Stock Exchange of Thailand(SET), also stressed that BCG was a survival path forthe entire world and an opportunity forThailandif it could leverage information and digital technologies to equip Thai business operators with thecapability to produce goods and services that are also “good for the world”.
“Investors are beginningto give it moreimportance. Large funds will invest only in companies which pay attention to sustainability.Firms are being asked questions like these… What is your policy on managing plastics? What is your policy on managing wastes? What is your clean energy policy?”
To promote BCG and sustainability among listed companies, SET has come up with four key measures, namely buildingawareness, setting a standardor guidelines, recognizing good practices, and developingdata infrastructure to help investors base their decisions onthe right choices.
Meanwhile, according tothe BCG Action Plan (2021-2027) which was earlier approved by the Cabinet, there are 13 key measures as follows:
1. Create digital repository of bioresources, cultural capital, and local wisdom 2. Replenish national resources through a quadruple helix approach 3. Develop BCG corridors 4. Transform an agricultural system into a system of high efficiency, high standardsand high value 5. Improve quality and safety of street food and local food products with food machinery and Good Hygiene Practices (GHP) compliance 6. Build a biobased economy by employing advanced technology to develop and manufacture high-value products 7. Create demand for innovative goods and services derived from the BCG model 8. Promote sustainable and green tourism 9. Promote the development and manufacturing of sustainable goods and services by employing green technologies, green finance and the circular concept
- Raise the standards of products and services to comply with international requirements by investing in infrastructure
11. Support BCG startups
12. Develop manpower to support the BCG model at all levels
13.Promote international collaboration in all facets, including knowledge creation and talent mobility.