The Bio-Circular-Green (BCG) model, Thailand's new economic model for inclusive and sustainable growth, can boost business opportunities after the pandemic has subsided, local experts told an Asia-Pacific Economic Cooperation (APEC) forum yesterday.
The BCG touches on four economic sectors linked to Thailand's biodiversity and cultural diversity, said Janekrishna Kanatharana, vice president and executive director of the Eastern Economic Corridor of Innovation (EECi).
Those sectors are food and agriculture; medical and wellness; energy, material and biochemicals; and tourism and the creative economy, said Mr Janekrishna, who also serves as vice president of the National Science and Technology Development Agency (NSTDA).
"With the right policies and management, intervention, the use of science and technology and innovation, as well as the participation of all sectors involved in the BCG economy, this will be an important growth engine for Thailand's sustainable future,'' he said.
Mr Janekrishna was speaking during a session titled "BCG Economy in Thailand and Business Sustainability" at the International Academic Forum and 5th Apec Media Focus Group.
The forum was running under the banner "Apec and Business Sustainability".
Attended by diplomats, businessmen and academics, the forum was hosted by the Ministry of Foreign Affairs and Mahidol University in preparation for this November's Apec summit in Thailand.
Thani Thongphakdi, the permanent secretary for foreign affairs, was invited to be a key speaker at the forum.
He said his ministry has been engaging with the public about sustainability and other top priority Apec topics to boost awareness of them.
But more meaningful dialogue is needed to ensure everyone benefits from this Apec summit, he said. The theme for Apec 2022 is "Open. Connect. Balance."
Mr Thani said Thailand's sufficiency economy has helped guard it against current hardships but the BCG also has a role to play.
"By leveraging science, technology and innovation through a whole society approach, the BCG economy model can advance the post-pandemic period and long-term growth.
"It is based on the belief that the wellbeing of the environment, society and economy are quintessentially symbiotic," he said.
