Private sector urged to embrace circular economy
The private sector is being encouraged to adopt circular economy principles for business operations to reduce costs, increase efficiency and generate income from innovative business models.
Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office, said the circular economy concept was introduced in response to the ongoing development of technology and rapidly changing consumer demands that affect the economy, society and the environment.
The concept promotes an economic system where resources, materials and products left over from production or consumption are reintegrated to extract new benefits.
Bangkok Post Reporter
