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Thailand’s Shift To Eco-Friendly Growth

Thailand has recently announced that it will be shifting its economic policy model towards a bio, circular and green economy (BCG) approach.

Thailand has recently announced that it will be shifting its economic policy model towards a bio, circular and green economy (BCG) approach.

The concept involves directly supporting the agricultural, medical, energy, and biochemical sectors of the economy to implement newer and better technology.

With the use of modern technology, these sectors will be able to lower their carbon footprint and overall environmental impact of waste and pollution.

By focusing more on environmental sustainability, this policy approach also promises to deliver long term economic growth and job opportunities.

The Bangkok Post has collected some impressive figures of what this shift could mean for the economy.

“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 Thailand’s gross domestic products (US$ 137 billion) by 2025 from one-fifth at present. Based on this trend, Thailand’s economic growth will be driven by increasing competitiveness in four key industries namely agribusiness, bioenergy and biochemicals, medical and wellness services as well as tourism and creative economy.”

The Thai government will directly support investment in these areas and ensure further investment in research and development and education.

With such significant spending increases in sustainable growth, the results will hopefully show the rest of the world how to adjust their policy approaches.



Chris is one of GreenCitizen’s writers who has been a long-time advocate of individual responsibility when it comes to the environment. He shares GreenCitizen's passion for making the world a better place every day of the year.

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