BCG model: Moving toward Thailand's goals in 2027

      Thailand has a strategy to drive its development with the Bio-Circular-Green (BCG) economic model, which is an economic development model that builds on the country's strengths in biodiversity and cultural diversity, connecting them with the Sufficiency Economy Philosophy and working in line with the Sustainable Development Goals. 

      The BCG model creates many new business opportunities and is a guideline for driving development and sustainably revitalizing the Thai economy. It is a mechanism with high potential to comprehensively improve people’s quality of life and to diversify opportunities and reduce inequality. In areas where Thailand has potential, BCG has the potential to build Thailand into a world-class leader. The government has set the country's strategic goals for 2027 and has come up with policy-level indicators to drive Thailand's development with the BCG model

      The first goal is to increase the rate of economic growth and raise the income of the population; the measure of success is for the GDP value of the BCG economy to increase by 1 trillion baht from the 2018 level, with the proportion of high-value products and services increasing by at least 20 percent, and an increase in the income of the grassroots economy of not less than 50 percent. 

      The second goal is to reduce social inequality. The measures of success are (a) to reduce income inequality for 10 million people, (b) to reduce the percentage of people suffering from food shortages and malnutrition to less than 5 percent, (c) to increase the number of people who have access to expensive medicines and medical devices by not less than 300,000 people, and (d) to increase by 20% the number of communities with energy self-sufficiency, even in times of crisis.

      The third goal is to build sustainability of nature and the environment. The measures of success are to reduce the use of resources by 1/4 from the present, reduce greenhouse gas emissions by at least 20-25 percent in 2030 (compared with 2005), and increase the forest area by not less than 3.2 million rai. 

      And the final goal is self-reliance. It will be considered a  success if at least 1 million people develop higher skills; 1,000 startups and innovation-driven entrepreneurs become involved in BCG; the balance of payments in technology falls by not less than 20 percent; and imports of medical and health products fall by not less than 20 percent.

Source : National Science and Technology Development Agency (NSTDA)
Tel : +66 2564 7000