Bioeconomy as a new S-curve for Thai economy

Abstract

Thai economic growth lags behind all other ASEAN countries because its export dependence along with the political and economic vulnerabilities. With the growing bioeconomy worldwide, Thailand needs a clear bioeconomy roadmap as a new growth engine for its economy. Four potential clusters to build bioeconomy in Thailand include the bioenergy, bio- -based industry, bio-food and bio-agriculture, and bio-medicine and health. There are roadmaps for only the first two clusters. The paper discusses the potential bio-based products for the bio-food and bio-agriculture as well as bio-medicine and health and proposes the use of the Pracharath strategy to build bioeconomy in Thailand with the main objective of creating the sustainable economy. Since a smart community is a key driver for the sustainable economy, five steps to smart community proposed in the paper will immune communities in the rural area of Thailand, make them self-reliant, and remove the dependency culture.