During the January-September period, the country's Board of Investment (BOI) received 128.4 billion baht (about 3.8 billion U.S. dollars in the current exchange) worth of investment applications for the BCG projects, surging from 49.3 billion baht during the same period of last year.

As of September, the total value of BCG investment applications filed by both local and overseas investors has amounted to 677.2 billion baht, according to the BOI data.

The strong growth this year came following the BOI unveiled a series of measures and mechanisms to promote the BCG investment as the Thai government declared the BCG as a national agenda and the core of the country's post-COVID-19 economic recovery.

According to the BOI, Thailand expects the BCG sectors to make up around 24 percent of its GDP over the next six years.

"The BCG economy model is very much consistent with Thailand's international commitment and also our goals," BOI Secretary General Duangjai Asawachintachit said. "We need to set out to promote measures in both public and private investment in a number of targeted sectors as key drivers to meet this objective."

Thailand vows to reduce its greenhouse gas emission by 20-25 percent by 2030 and aims for carbon neutrality by 2050.

Read: Thailand Further Eases COVID-19 Restriction Amid Rising Vaccination Levels

Xinhua