![\"A](\"https:\/\/www.nxpo.or.th\/th\/wp-content\/uploads\/2021\/03\/image-1.png\")
<\/figure><\/div>\n\n\n\nFor years, Thailand has remained in the middle-income trap, with USD 8,000 per capita income. To become a high-income country, this number needs to exceed USD 12,500 and thus BCG has been introduced to create new growth engines to invigorate the economy and create fair wealth distribution. <\/p>\n\n\n\n
BCG consists of <\/p>\n\n\n\n
- Bioeconomy involves the production of renewable biological resources and the conversion of these resources into value added products <\/li>
- Circular economy aims at reusing and recycling materials to maximize the value of limited resources. <\/li>
- Green economy determines to keep economy, society and the environment in balance, leading to sustainable development. <\/li><\/ul>\n\n\n\n
The BCG strategy is to build capacities of players in the value creation pyramid, the top of the pyramid being the small number of players utilizing technology to produce high-value goods and services, and the bottom involving a large number of players mainly in the agricultural sector. To enhance the capability, advanced technology will be introduced to the top; whereas proper technologies \u2013 mainly in food and agriculture \u2013 will be employed to help farmers improve their productivity and upgrade quality aiming for premium markets. <\/p>\n\n\n\n
BCG economy model is expected to ease the impact of COVID-19 and bring about positive contribution in the following aspects: <\/p>\n\n\n\n
- Food security.<\/strong>\u00a0As a well-known food producer, Thailand\u00a0produces a\u00a0surplus\u00a0of\u00a0carbohydrate foods\u00a0such as rice and sugar\u00a0but\u00a0not\u00a0enough protein. BCG\u00a0economy\u00a0model will facilitate the balance in food production and strengthen the nation\u2019s food security.\u00a0<\/li>
- Energy.<\/strong>\u00a0Thailand is heavily dependent on natural gas for power generation.\u00a060% of\u00a0its\u00a0electrical power\u00a0comes from natural gas and\u00a0the\u00a0imports of natural gas are\u00a0expected to keep growing. BCG will\u00a0increase\u00a0the proportion of renewable energy consumption from 16.5% in 2019 to 20%\u00a0<\/li>
- Health.<\/strong>\u00a0Thailand imports large amount of healthcare products, especially medicines and medical supplies. A number of drug\u00a0and vaccine\u00a0development projects are in progress including psoriasis\u00a0medicine, erythropoietin\u00a0and\u00a0cancer drug. The success of these projects will result in the import reduction.\u00a0\u00a0<\/li>
- Sustainability.<\/strong>\u00a0BCG model will reduce resource consumption and pollutions such\u00a0as PM2.5, waste and wastewater, as well as support the conservation and rehabilitation of wildlife and ecosystem.\u00a0\u00a0<\/li>
- Tourism.<\/strong>\u00a0By balancing economic activities\u00a0and environmental\u00a0objective, new and sustainable tourism will be promoted.\u00a0<\/li><\/ul>\n\n\n\n
At present, BCG have a combined economic value of 3.4 trillion THB. It is expected that BCG economy model can raise this number to 4.4 trillion THB in five years, whereas employment will increase from 16.5 million to 20 million. In addition, wealth distribution will focus on the poor and the middle class to create inclusiveness and sustainability. <\/p>\n","protected":false},"excerpt":{"rendered":"
NXPO President Dr. Kitipong Promwong rec […]<\/p>\n","protected":false},"author":1,"featured_media":7108,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[30],"tags":[],"class_list":["post-7106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"featured_image_src":"https:\/\/www.nxpo.or.th\/th\/wp-content\/uploads\/2021\/03\/image-1.png","author_info":{"display_name":"admin","author_link":"https:\/\/www.nxpo.or.th\/th\/author\/adminsti\/"},"jetpack_featured_media_url":"https:\/\/www.nxpo.or.th\/th\/wp-content\/uploads\/2021\/03\/image-1.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/posts\/7106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/comments?post=7106"}],"version-history":[{"count":1,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/posts\/7106\/revisions"}],"predecessor-version":[{"id":7109,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/posts\/7106\/revisions\/7109"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/media\/7108"}],"wp:attachment":[{"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/media?parent=7106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/categories?post=7106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nxpo.or.th\/th\/wp-json\/wp\/v2\/tags?post=7106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- Energy.<\/strong>\u00a0Thailand is heavily dependent on natural gas for power generation.\u00a060% of\u00a0its\u00a0electrical power\u00a0comes from natural gas and\u00a0the\u00a0imports of natural gas are\u00a0expected to keep growing. BCG will\u00a0increase\u00a0the proportion of renewable energy consumption from 16.5% in 2019 to 20%\u00a0<\/li>
- Food security.<\/strong>\u00a0As a well-known food producer, Thailand\u00a0produces a\u00a0surplus\u00a0of\u00a0carbohydrate foods\u00a0such as rice and sugar\u00a0but\u00a0not\u00a0enough protein. BCG\u00a0economy\u00a0model will facilitate the balance in food production and strengthen the nation\u2019s food security.\u00a0<\/li>