NXPO in partnership with the Office of Small and Medium Enterprise Promotion (OSMEP) and the Biodiversity-based Economy Development Office (BEDO) organized a BCG seminar focusing on applying bioeconomy to enhance the competitiveness of SMEs. The project aims to inspire more than 500,000 SMEs in Thailand to join the BCG movement which has a potential to add THB 1 trillion to the Thai GDP by 2027.
NXPO President Dr. Kitipong Promwong revealed that the objective of this seminar is to present and share information on bioeconomy, one of the three elements of Bio-Circular-Green Economy (BCG) model, as a guidance for SMEs to apply bioeconomy concept to their businesses as a strategy to improve their competitiveness across the supply chain.
NXPO’s role in driving the BCG agenda is to create a supportive ecosystem to enable Thai SMEs to adopt and apply the BCG model, i.e., science, technology and innovation, to increase the value of products and services and develop BCG indicators to support sustainable growth of MSMEs. The BCG model is expected to increase Thai GDP by THB 1 trillion by 2027, reduce social disparity, ensure sustainability of resources and the environment, strengthen self-reliance, and respond to the UN Sustainable Development Goals (SDGs).
OSMEP Director General Dr. Veerapong Malai explained that while the UN SDGs present both challenges and opportunities for businesses, 99.5% of Thai SMEs, approximately 3.2 million firms, are not fully aware of their effects and implications. OSMEP, therefore, intends to raise awareness of the BCG model and encourage BCG adoption and application among SMEs to enhance their competitiveness in the global market, overcome non-tariff barriers and create business sustainability.
OSMEP data showed that around 14.7% of total SMEs, or around 469,767 firms, are in the bioindustry sector – encompassing food and agriculture, bio-based products and packaging, and biopharmaceuticals, making it the largest sector of Thai SMEs. This bioindustry SMEs are responsible for 1.8 million jobs and THB 559-billion export value (52.8% of total SMEs export value).
To increase the competitiveness of these SMEs, the OSMEP Action Plan 2023 consists of joint activities with NXPO to drive the growth of MSMEs with the BCG model and to develop BCG indicators. In addition, OSMEP also has several measures to promote SMEs.
BEDO Director-General Ms. Suwanna Tiansuwan remarked that in the global economy, businesses cannot focus solely on profit. They must pay attention to social and environmental aspects, including new rules and regulations relating to biodiversity. BEDO as a driver of biodiversity aims to develop tools, mechanisms and innovations to support all sectors in the society to be biodiversity-conscious. BEDO has developed “Business & Biodiversity Check”, a tool for managing biodiversity in companies to conform to applicable standard practices such as ESG (Environmental, Social, Governance) program, Global Reporting Initiative and Dow Jones Sustainability Index.
Speakers at the seminar include Mr. Wirot Nararak, Deputy Secretary General of the Office of the National Economic and Social Development Council; Mr. Petipong Pungbun Na Ayudhya, President of Biodiversity-based Economy Development Foundation; and representatives of Siam Cement (Lampang), Singha Estate and successful bioindustry SMEs.
