Countries around the world have adapted to the changes in the world by adopting the concept of the “circular economy” in their economic development, and many of them have been successful in doing so. Considering the components of success, we find that these countries have clear policies and goals. In addition, there is a push for legislation that is beneficial and supports the circular economy system, public-private partnerships, and innovation and technology development, to support the implementation and development of market mechanisms. Thailand also has guidelines for driving the circular economy in keeping with the BCG principles:
1) Determine the policies and targets at the national level to drive both the public and private sectors to ensure consistency in the direction of each agency’s operations;
2) Transitioning to a circular economy requires legislative support from the government, through amendments to existing laws that hinder operations and new legislation to encourage social change;
3) The business sector plays an important role in driving the circular economy, so cooperation should be promoted. The economic sector must, therefore, take a leadership role in revolutionizing all five main business models, which are Product Life Extension, Sharing Economy, Resource Recovery, Product as a Service, and Circular Supplies;
4) The development of innovation and technology to meet the needs of the circular economy relies on multidisciplinary knowledge and collaboration from all sectors;
5) Raising awareness among members of civil society in both government and private sectors, as well as the general public, to help everyone recognize the importance of the circular economy;
6) Development of marketing mechanisms.
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