Master plan for Bt6.5-tn circular economy unveiled

[webfact]

Master plan for Bt6.5-tn circular economy unveiled

By THE NATION

 

Minister Suvit Maesincee

 

The Ministry of Higher Education, Science, Research and Innovation has unveiled its plan to boost the gross domestic product of the country's bio-circular green (BCG) economy, to strengthen Thailand’s economic sustainability.

 

Minister Suvit Maesincee said that if things go as planned, the BCG sector's GDP will surge to Bt4.4 trillion in next five years from the current Bt3.4 trillion. The value could reach Bt6.5 trillion in 2030, he added.

 

The ministry has joined with related state agencies and private firms in drawing up plans to promote BCG in the following seven fields.

 

1. Agriculture: This includes the development of smart farmers and tax incentives to encourage smart farming. The goals are to make Thailand one of the world's top 10 exporters and boost farming income to Bt240,000 per household per year. It aims to boost the GDP of the farm sector to Bt400 billion in the next five years.

 

2. Food sector: The development will focus on the functional food industry and functional food ingredient industry as well as medical food. It aims to boost GDP in the food sector to Bt300 billion in the next five years and reduce food industry waste to 15 per cent from the current 30 per cent by 2024 and to 10 per cent by 2030.

 

3. Energy and biochemical sectors: The plan will promote the use of ethanol, the use of a smart national electricity grid, and the introduction of a Green tax. It will set up the centre and fund for the bio-refinery industry and integrated bio-products. These will add value to farm products and stabilise the price of sugar cane and palm oil.

 

4. Medical supplies and vaccines. The ministry will set up a fund to support R&D of medicines and vaccines. It will also promote the Genomics Thailand project. It aims to boost GDP in the medicine and vaccine sector to Bt90 billion in next five years from the present Bt40 billion and cut public healthcare costs by Bt70 billion per year. To achieve these goals, the government will support R&D ranging from work in labs to clinical trials, and amend some vaccine procurement rules.

 

5. Medical equipment: The ministry will set up a fund to develop equipment standards and an institute to certify the standards of the medical technology and medical equipment innovations.

 

6. The tourism sector and creative economy sector: The plan includes the support of Thai digital platforms to promote tourism.

The plan will promote northern provinces as the “luxury retirement centre of Asia” to draw long stay-tourists and high-income, aged tourists worldwide. It will also promote Thailand as Asia's creative-content production hub. The plans aims to boost GDP in these two sectors to Bt300 billion in the next five years.

 

7. Circular economy: It will draw up a law to recycle waste and plastic packaging, promote knowledge of the circular economy and waste separation, and promote the use of farm waste such as rice straw and sugar cane leaves.

 

Source: https://www.nationthailand.com/business/30390088

 

-- © Copyright The Nation Thailand 2020-06-23

 

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[CLS]

Is this a hidden hint that they want to devalue the Baht to meet this astronomical targets?

[Matzzon]

2 hours ago, CLS said:

Is this a hidden hint that they want to devalue the Baht to meet this astronomical targets?

Why would it be. 2010 Thailand had a total GDP of about 281 billion USD. Later 2018 they had a total GDP of 505 billion USD.

That´s an up of about 45%.

Here he is talking about one sector and also giving you the different expected numbers. Today it´s 3,4 trillion baht, and about same 10 year later they estimate 6,5 trillion.

That´s an up of 48%.

Looks about same to me. Expectations are following trends. Otherwise it would be impossible to make them. Some times they are correct, sometimes not.

However, the virus has hit the world hard, so ha might be in a little bit clouded by glory in the past. The world has the same problem, though. I do not see anything wrong with his estimation.

If you have another spin on this, please feel free to voice it instead of just blindly seeing something as astronomical.

[CLS]

52 minutes ago, Matzzon said:

Why would it be. 2010 Thailand had a total GDP of about 281 billion USD. Later 2018 they had a total GDP of 505 billion USD.

That´s an up of about 45%.

Here he is talking about one sector and also giving you the different expected numbers. Today it´s 3,4 trillion baht, and about same 10 year later they estimate 6,5 trillion.

That´s an up of 48%.

Looks about same to me. Expectations are following trends. Otherwise it would be impossible to make them. Some times they are correct, sometimes not.

However, the virus has hit the world hard, so ha might be in a little bit clouded by glory in the past. The world has the same problem, though. I do not see anything wrong with his estimation.

If you have another spin on this, please feel free to voice it instead of just blindly seeing something as astronomical.

In my books Thailand is the weakest of all ASEAN countries in terms of GDP growth. A measly 2% per annum, pre-covid estimate. A rate of a developed country. But you and me know that Thailand will not be there in the next 30 years. 
2% per annum, is 22% in 10 years.

Makes 4.2 trillion in 2030.

Still a huge step till 6.5 trillion.

 

Now include 8-10% contraction for covid and you miss your targets hands down.

 

[bluesofa]

5 hours ago, webfact said:

Master plan for Bt6.5-tn circular economy unveiled

Looks like we're officially going in ever-decreasing circles.

[Matzzon]

2 hours ago, CLS said:

In my books Thailand is the weakest of all ASEAN countries in terms of GDP growth. A measly 2% per annum, pre-covid estimate. A rate of a developed country. But you and me know that Thailand will not be there in the next 30 years. 
2% per annum, is 22% in 10 years.

Makes 4.2 trillion in 2030.

Still a huge step till 6.5 trillion.

 

Now include 8-10% contraction for covid and you miss your targets hands down.

 

Sorry to tell you but the clear information from the World bank is telling the facts and supporting my statistics. Let´s just leave it with that, before you get tangled in something that you apparently don´t have a clue about. ???? 

[jollyhangmon]

9 hours ago, webfact said:

... The plan will promote northern provinces as the “luxury retirement centre of Asia” to draw long stay-tourists and high-income, aged tourists worldwide ...

 

... circular economy master plan, my hairy podex ... but one sure thing to 'circle' especially in the northern provinces - as the future retirement center of Asia no less - is the smoke through your lungs at least half of the year ... and unfortunately I'm not talking about the one emitted by say a bong here ... well, maybe a little ... 

 

[CLS]

7 hours ago, Matzzon said:

Sorry to tell you but the clear information from the World bank is telling the facts and supporting my statistics. Let´s just leave it with that, before you get tangled in something that you apparently don´t have a clue about. ???? 

You cannot extrapolate future predictions with figures from the past.

[Matzzon]

57 minutes ago, CLS said:

You cannot extrapolate future predictions with figures from the past.

But in your previous quote to my post you tried to talk against it with fake statistics. Guess it´s alright when you try to use the same technique in the opposite way.

[Redline]

These are goals for a developed country.  Virtually impossible for Thailand with the poor education, unstable political system, monopoly economy, huge wealth disparities, noise, air, chemical land pollution, endemic corruption, poor rule of law, dangerous roads, no maintenance, low technology...

The best of luck though ????

 

 

[Grumpy John]

It's par for the course for politicians to talk up big proposals.....but it's another think to make sure it happens.  Look at the Eastern Economic Corridor, not exactly the kind of thing those in power should crow about.....yet.....if ever!  And they maybe overestimating their value in the face of stiff competition from other ASIAN countries.  

[thequietman]

On 6/23/2020 at 4:02 AM, webfact said:

Agriculture: This includes the development of smart farmers and tax incentives to encourage smart farming.

Will immigration be assisting with the Smart Car?  ????

[mommysboy]

It's goin' to be brill.

[bluesofa]

24 minutes ago, thequietman said:

On 6/23/2020 at 4:02 AM, webfact said:

Agriculture: This includes the development of smart farmers and tax incentives to encourage smart farming.

Will immigration be assisting with the Smart Car? 

Using it to pull a Smart Plough no doubt.

(Plow in US Eng)

[bluesofa]

11 minutes ago, mommysboy said:

It's goin' to be brill.

Are they diversifying into breeding fish now?