With growing issue of rising temperatures and extreme climatic events, Thailand and other government across the world are trying to take some independent actions to address the same. In Thailand, the government has made a commitment at the Paris Climate Conference in 2015, to reduce greenhouse gas emissions by at least 20% by 2030. And they are doing everything to ensure that.
The country is increasing its investment to create a green economy in the recent years with an aim to run this investment parallel to other government and private sector investments in the bio-economy. In fact, many of them specifically relate to the activities referenced in the National Biotechnology Policy Framework, 2012-2021.
According to Krungsri Research (2017), Thailand is leading when it comes to producing and exporting raw agricultural products used in the bio-economy. Notably, Thailand produces almost 50% of the world’s cassava and 9.4% (approximately) of the world’s sugar while adding a staggering 5.15 billion USD to the national income in 2017. Besides, it is also a significant exporter of rice and palm oil. Since these agricultural products are important elements required for bioplastics and biofuels production, it is likely that they will remain a major driver of Thailand’s growth in the global bio-economy.
3 Leading Sub-Sectors
To address a range of domestic concerns like environmental degradation, food security and energy shortages, the government in Thailand has invested in significant resources in the recent years in majorly three bioindustries, i.e. biopharmaceuticals, biochemicals and bioenergy.
- Bioenergy: By generating renewable electricity domestically, Thailand can gradually lessen its dependence on neighboring countries’ resources. Additionally, the country would also increase its ability to create domestic economic stability. Considering how Thailand addressing the range of domestic concerns such as, energy shortages and environmental degradation, it is expected that by 2036 Thailand’s energy consumption will be approximately 24%, coming from the local bioenergy production.
- Biochemicals: Under the Ministry of Industry’s direction, it is expected that the infrastructure investments over the years in Khon Kaen, Kamphaeng Phet and Nakhon Sawan will be more than 11 billion USD. The production capacity of lactic acids and Bautanediol will drastically increase while reducing the reliance on external biochemical commodities. The Thai government has also made necessary investments in biomaterial production technology.
- Biopharmaceuticals: According to the current data from the Council of University Presidents of Thailand (CUPT) suggest that more than 98% of Thai citizens are not able to afford imported medicines. In order to reduce the statistic while alleviating the dependency on foreign countries for medicine, this sector in Thailand has received significant funding for R&D and other technical advancement.
Apart from these, the Northeast of Thailand is considering a bioeconomy scheme. And this pilot project is to be situated in the lower northeastern area surrounding Yasothon, Sisaket provinces, Ubon Ratchathani and Ammat Charoen. Under this scheme, the Thai government aims at boosting local household income and support long-term stability of the local farmers via promotion of value-added agricultural products.
