To warrant the success of BCG model, the government’s role needs to be re-defined and a policy needs to be clearly set to facilitate an integrated approach for the implementation.

The paradigm shifts in the government’s approach to BCG implementation are proposed as follows (MHESI, 2021):

  1. Change from publicly led investment to enterprise-led investment by creating an ecosystem to boost private investment portion. Improvement on ecosystem can be achieved through revising impeding laws and regulations and streamlining product registration processes, for instance.
  2. Change from cash-aid policy to investment policy. Solutions such as farm subsidy is short-term. A more sustainable and long-term solution would be to invest in research, innovation and implementation of research outputs to a wider scale.
  3. Change from an annual funding to a multi-year funding. Development of technology and innovation takes time and requires funding continuity which is difficult to achieve with the current budgeting system that approves funding year by year.
  4. Change from funding individual projects to integrated projects – encompassing the whole process from research, to development, innovation and manufacturing – that will advance research to market. Public research fund mostly stops at the lab-scale technology, leaving the financial burden of upscaling to the private sector. Upscaling of technology to industrial production is an expensive step and can cost as high as 1 million USD – the amount that most SMEs cannot afford (National Science and Technology Development Agency, 2019).
  5. Change from traditional industry to s-curve industry, enabling Thai industry to rely less on comparative advantage in labor cost and resources and earning more with innovation.
  6. Change from externally dependent growth to strengthening the local economy and connecting to the global economy. Thai economy is highly dependent on foreign tourism revenue and imported technology and materials, and the wealth gap is very large. Economic development must therefore focus on strengthening the grassroots economy and technological self-reliance.
  7. Change from individual actions to collective actions, employing the quadruple helix model that engages all sectors – government, industry, academia and people.

The following policy measures are proposed for public-private partnership implementation:

  1. Create digital repository of bioresources, cultural capital and local wisdom.
    • Develop a database system for collecting and integrating qualitative and quantitative data of various assets and capitals – ranging from genetic and ecosystem information, to products and services, as well as culture and traditional knowledge.
    • Employ big data analytics for the planning and management of conservation, restoration and utilization program to strengthen a local economy and tourism industry.
  1. Replenish national resources through quadruple helix approach.
    Establish a program offering carbon credit to enterprises engaging in the forestry carbon projects on the government’s land.
    • Accelerate research and development in plant and animal breeding and resource monitoring and management.
  1. Develop BCG corridor.
    • Build a regional economic corridor in each part of the country by connecting regional demand and supply.
    • Employ BCG approach – modern agriculture, processing, tourism, trade and investment and linkage between domestic and global economy – to develop and improve products and services.
  1. Transform agricultural system.
    • Focus on premium and safe products by emphasizing plant breeding research, safety and quality standards, good farm management and logistics management system.
    • Raise agricultural GDP by diversifying agricultural products with options such as seed, fruits, ornamental plants, timber, insects, herbal plants and livestock.
    • Increase farmers’ access to knowledge and technology.
    • Promote sustainable agriculture through BCG approach.
  1. Improve quality and safety of street food and local food.
    • Promote food machinery and Good Hygiene Practices (GHP) compliance.
  1. Build a biobased economy by employing advanced technology to develop and manufacturer high-value products such as functional ingredients, functional food, biochemicals such as oleochemicals, biomaterials such as carbon-based materials, drugs and vaccines.

  2. Create demand for innovative goods and services derived from BCG model.
    • Implement the government procurement program such as requiring public hospitals to procure medical devices on the Thai Innovation List.
    • Offer tax and investment incentives to industry and people sectors to promote products and services on the Thai Innovation List
    • Establish BCG-related labeling such as carbon footprint labeling, green labeling and environmental labeling.
    • Introduce instruments such as carbon pricing and polluter pays principle.
    • Deregulate energy trading.
  1. Promote sustainable and green tourism.
    • Launch new tourism campaign such as Happy Model.
    • Develop sustainable and green tourism with BCG concept and carbon neutrality.
    • Form tourism clusters of primary and secondary cities.
    • Establish a one payment system to support tourism database for analysis and future planning.
  1. Promote the development and manufacturing of sustainable goods and services by employing green technologies and circular concept.

  2. Raise the standards of products and services to comply with international requirements by investing in infrastructure.
    • R&D infrastructure.
    • Translational research infrastructure such as pilot plants.
    • Quality infrastructure system to support standardization, testing, certification and accreditation of products/services such as organic products, biochemical products, drugs, vaccines, and medical devices and supplies.
    • Revise laws and regulations.
  1. Support BCG startups.
    • Improving technological and business skills of entrepreneurs.
    • Increase access to technology, innovation and government infrastructure
    • Provide access to government experts and financial sources.
  1. Develop manpower to support BCG model in all levels.
    • Communities and grassroots.
    • SMEs
    • Deep tech.
    • Startups and tech entrepreneurs.
  1. Promote international collaboration in all facets, including knowledge creation and talent mobilization.
    • Establish research, trade and investment networks at the national, regional and global levels.
    • Enrich Thailand’s innovation ecosystem with measures such as incentive to attract foreign investment and international talent and SMART visa program.