What types of agricultural business and industry come under the BCG concept (including conditions and benefits)?

      The Thai government, through the Office of the Board of Investment, or BOI, is promoting a new economic model called "BCG," or Bio-Circular-Green, which was at the heart of the APEC Economic Leaders' Meeting, held in Bangkok on 18-19 November 2022. The goal is to reduce greenhouse gas emissions under the Net Zero Emission target by 2065-2070.

The BOI has stated the following aims for improving several types of agricultural businesses and industries under the BCG concept:

1. To increase the types of agricultural business using advanced technology, namely plant factories with a control system for both the physical and biological environments for growing plants, such as controlling light, temperature, humidity, and contamination of pathogens and insects; corporate income tax exemption will be granted for up to five years;

2. To improve the scope, conditions, and benefits to encourage the adoption of technology and to improve flexibility in operations, including preserving the environment; the businesses consist of the following:

 - Grading, packaging, and storage of plants, vegetables, fruits, or flowers; corporate income tax exemption will be granted for up to eight years if advanced technology is applied;

- Cold storage and cold storage transportation using refrigerants with less impact on the environment; this is based on relevant metrics, such as the Global Warming Potential (GWP); 

- Manufacture of products from by-products or agricultural waste, products from raw materials, or products from waste materials, by increasing the ability to use these products in the production process. - Animal feed production or production of animal feed ingredients; corporate income tax exemption for up to five years will be granted if the business has a traceability system and certification of standards, such as ISO. 

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