NXPO and and the Office of Small and Medium Enterprise Promotion (OSMEP) recently held a press conference announcing the launching of a project to promote Thai micro, small and medium enterprises (MSMEs) with the Bio-Circular-Green Economy (BCG) model. The initiative is expected to benefit 1,000 MSMEs nationwide.

OSMEP Director General Dr. Veerapong Malai stated that the government has introduced the BCG model to drive the economy and the UN Sustainable Development Goals (SDGs). The model utilizes Thailand’s strength in cultural and biological diversity, science, technology and innovation to create high value goods and services, transforming from a “more-for-less” to a “less-for-more” economy.

Under the BCG model, OSMEP has promoted Thai MSMEs in three areas: 1) encourage MSMEs to utilize digital database of biodiversity, cultural capital, and traditional knowledge to grow their businesses, 2) develop market for innovative BCG products and services, and 3) raise income through innovation, standardization, and skill improvement.

“This project will raise awareness on the BCG model, help MSMEs connect to financial sources and the government’s supporting programs, develop an ecosystem for MSMEs to improve their global competitiveness and overcome trade barriers,” said Dr. Veerapong.

NXPO President Dr. Kitipong Promwong explained that NXPO and OSMEP will utilize their strength and expertise to drive sustainable growth of Thai MSMEs. NXPO has extensive experience in developing and driving public policy in relation to the BCG model. In this project, NXPO will be working with its network partners, including Centre for SDG Research and Support (SDG Move) of Thammasat University, the Global Compact Network Thailand (GCNT), to design indicators, evaluation framework, organizations to be involved in the framework, incentive measures and capacity development for MSMEs. 

“This project will jump start a transformative change in MSMEs to use innovation to leverage their competitiveness and achieve sustainability,” concluded Dr. Kitipong. 

The press event also included a seminar with representatives from the public and private sectors sharing their viewpoints on the BCG model for MSMEs. Panel of experts were NXPO Vice President Dr. Kanchana Wanichkorn, and representatives from Doi Kham Food Products Company, Limited, the Federation of Thai Industries and the Stock Exchange of Thailand.