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
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