วันที่ปรับปรุงข้อมูล 9 May 2022
The impacts of COVID-19 have been widespread, throwing the world economy into disarray. Thailand has felt this impact firsthand and has seen its engines of growth take a huge hit.
Moving forward, the Thai government is planning to implement the BCG (Bio-Circular-Green) Economic Model as its main national agenda. While the BCG will focus on creating a launchpad for eco-friendly businesses and innovations across a number of different industries, this article will mainly focus on “food for the future” and agriculture.
What exactly is the Bio-Circular-Green Economic Model? Let’s break it down.
This policy has its roots in the Sufficiency Economy Philosophy. This philosophy was originally proposed by His Majesty King Rama IX in the 1970s. Its principles are based on fundamental principles of Thai culture: moderation and prudence, with virtue and knowledge as a backbone.
His Majesty was concerned that business for the sake of profit alone was not sustainable. He saw it as imperative that the Thai people develop intelligently, first building a stable foundation, and then working toward the next iteration of development.
BCG, with its focus on both growth and the environment, may very well be the next stage that His Majesty had hoped for.
The Ministry of Industry is investing US$213 million (THB6.7 billion) over a period of nine years to upgrade Thailand’s food related-industries. These upgrades span across a wide swathe of targets including:
With these new support measures, combined with a booming agro-industry as well as a shift in consumer interest towards sustainability, Thailand is well positioned as an investment destination. In fact, the Board of Investment of Thailand (BOI) has offered a number of incentives, including a very generous eight-year corporate income tax exemption.
As a result, some exciting projects have already seen significant support:
Thanks to companies like these, new health benefits and sustainable packaging are just some of the options available for modern-day food products.
As we ascend into the next era of industrial development, it is essential that some of our traditional approaches to farming change, too. More and more of the new generation look at farming as a dead-end career, trapped in the past. Understandably, over the last few years, there has been a significant reduction in the number of Thais who want to become farmers.
However, farmers under the BCG economic plan will get to experience the next iteration of farming, just like the first farmers who discovered the plough. With smart farming, integrated tech, high-quality machinery, and stronger support systems, they’ll be able to earn more from the same plot of land, produce more food products and options, mitigate their impact on the environment, and incorporate a variety of solutions for far less manual labor.
Imagine a farm where much of the process is fully automated, and you can control and monitor the health of your plants from anywhere using your smartphone. Imagine farming as a career that earns a high salary and puts you on the cutting edge of development, marketing, and innovation.
What may come as a surprise to some people is that all this is already here. It no longer exists as simply an idea. Some exciting pilot projects underway include:
With governmental support, Thailand may very well achieve its goal of becoming one of the world’s top 10 food exporters.
These developments aren’t just for the producers and other agro-industry professionals. Consumers can expect all kinds of benefits from the BCG economy.
The industry is moving forward in leaps and bounds. Consumers will get easy access to sustainable alternatives and will be able to better monitor how that food is produced. This will help eliminate our worrying tendencies toward an out of sight, out of mind mentality when it comes to the sustainability of our food.
The BCG economy is the way forward for Thailand. Public institutions are paving the way for the development of BCG-oriented businesses, which will not only help the owners and the workers, but also the investors upstream and the consumers downstream.
BCG means growth, better money, better produce, and better quality of life, all while protecting our planet. It is imperative that we remain at the forefront of the sustainability frontier, both for our development and for a brighter tomorrow. This is truly the future of food in Thailand.
Office Hours: Sunday to Thursday, 08:30-12:00 and 13:00-16:30 (Except public holidays)