NXPO recently participated in the BCG Startup Investment Day organized by the Board of Investment (BOI), presenting its work on circular economy.  

In his opening statement, Deputy Prime Minister Mr. Supattanapong Punmeechaow remarked that under the Bio-Circular-Green Economy (BCG) agenda, Thailand is employing technology and innovation to improve the competitiveness of its key industry – agriculture, food, health and wellness, tourism and automotive – and develop new S-curve industry such as electric vehicle, drug, digital economy and clean energy. SMEs and startups are considered primary drivers of the new economy. 

In addition to enabling Thailand to achieve its net-zero emission goal, the circular economy can offer multi-trillion-dollar business opportunities and create 395 million new jobs, said NXPO Vice President Dr. Kanchana Wanichkorn.  Thai businesses must embrace the circular economy in order to meet new trade requirements set by climate policies and actions such as the European Green Deal. 

Over the past years, NXPO has conducted studies on Policy Framework for Thailand Circular Economy, policy options on packaging waste management under the circular concept and an establishment of an agency responsible for circular economy. The office is currently developing “Circular Economy Innovation Ecosystem: Vision 2030” to design an innovation ecosystem for circular economy. 

Thailand’s circular economy policy aims to reduce resource use by 1/4, cut down greenhouse gas emission by 15 million tons of CO2, and contribute 3% of the GDP by 2030. The strategy is to enable the industry and society to adopt the circular practice and to strengthen infrastructure and ecosystem to support the circular economy. 

By forming partnerships with alliances, NXPO has been able to introduce several initiatives to drive the circular economy in Thailand. Together with the Thai Sustainable Consumption and Production Network (Thai SCP Network), NXPO organizes CE Innovation Policy Forum as a platform as a platform to share viewpoint and drive circular economy transformation. The network created by the forum has involved 370 organizations representing the public, private and civil sectors. Information obtained from the forum is used in the development of White Paper CE Innovation Ecosystem Vision 2030. NXPO and the Global Compact Network Thailand launched CIRCO: Creating Business through Circular Design, a training program aiming to build capacity of Thai enterprises. In line with the circular economy policy, the Program Management Unit for National Competitiveness Enhancement (PMU-C) provides funding for circular economy theme in the following sub-programs:  1) CE Platform, 2) CE Champion, 3) CE RDI and 4) CE Enabling Factors. 

NXPO is currently developing a web-based platform to facilitate knowledge exchange in the circular economy and setting up Thailand CE Hub as a central body to drive circular economy transformation and facilitate communications between industry and policy makers.