Bangkok, Thailand – In a historic development, the Thai government has initiated discussions with BlackRock Inc., the world’s largest asset management firm headquartered in New York City, to secure substantial investments for Thailand’s burgeoning Bio-Circular-Green (BCG) sector.
Government spokesperson Chai Watcharong confirmed that the meeting, which brought together Thai Prime Minister Srettha Thavisin, Finance Minister, and top executives from BlackRock, was primarily focused on attracting investments to bolster Thailand’s BCG industry. This move aligns with global trends towards sustainability and environmentally responsible business practices.
The Thai BCG sector currently boasts a valuation of 3.4 trillion baht, with projections indicating potential growth to exceed 4.4 trillion baht within the next five years. BlackRock, managing an impressive $9.43 trillion in assets, has consistently advocated for sustainable investments. Recent discussions have shed light on the company’s keen interest in not only investing in major enterprises but also in fostering the growth of small and medium-sized businesses in Southeast Asia, with a special focus on Thailand.
Anticipated investments from BlackRock have the potential to generate a substantial number of high-paying job opportunities, ranging from 100,000 to a staggering 1 million positions. Furthermore, this business expansion is projected to lead to an annual reduction of 10 million tons of waste, a significant step towards addressing environmental concerns.
Spokesperson Chai emphasized that Thailand already houses over 100 companies operating in the thriving BCG sector. Therefore, the expected investment from BlackRock is poised to catalyze further expansion, drive job creation, and stimulate the nation’s economy. The investment deal is slated to materialize in the upcoming year, underscoring the promising prospects of Thailand’s lucrative BCG business landscape.