Thai industry leaders working for greater green development

The Federation of Thai Industries (FTI) is partnering with the government and universities to launch bio-, circular and green (BCG) pilot projects with the goal of making green industries a quarter of the Kingdom’s economy.

The Federation’s target is ambitious: it wants to see BCG industries generating $134 billion worth of growth in just six years. The FTI, which represents the Kingdom’s captains of industry, will collaborate mainly with Chulalongkorn University, the top-ranked institution of higher learning in Thailand.

“The FTI promotes and supports the government’s BCG policy. One benefit is the reduction of plastic waste through recycling,” said Supant Mongkolsuthree, Chairman of the Federation.

The government is supporting the emergence of a BCG-based economy through policies, investment incentives, infrastructure building, and research and development (R&D). Bio and green industries are among the 12 industries the government is prioritizing for support to ensure that Thailand attains a more advanced level of development.

Thailand achieved rapid development through traditional industrialization beginning in the 1970s and taking off full steam by the 1990s. While business boomed and living standards advanced, the Kingdom has had given more attention to environment issues.

Both the government and the business community started to re-evaluate the Kingdom’s development and shift to models that emphasize sustainability.

The Federation said that it would begin its efforts with five BCG prototypes in petrochemistry, construction materials, food, cosmetics and healthcare, and electronics.

“The five sectors have teamed up to create a guideline to help one another adopt practices in line with BCG policy and global industrial trends,” Supant said.

Photo courtesy of https://thaiembdc.org/bio-circular-green-bcg/