Thai textile industry consists of more than 2000 down and upstream companies. There is interest to find solution for textile recycling, as well as for new innovations for environmentally friendly chemicals and yarns using waste (agriculture, textile, PET bottles) as feedstock. Several Thai companies and universities/research institutes experiment on these. Large Thai conglomerates are also actively looking CVC (corporate venture capital) opportunities to invest for innovative start-ups or potential scaling up activities.
Concern of lack of raw water during the dry season, as well as increasing sustainability requirements from export markets, are forcing companies to invest for advanced treatment and recycling of process waters. The high and fluctuating energy pricing in Thailand is a concern for industry, naturally there is interest to find more energy efficient solutions.
Cambodia has 500+ exporting garment and footwear factories. Most of these factories are foreign owned and are producing OEM products for world's leading brands. The export value is more than 11 billion USD and 70% of this is going to US and EU markets. For example, OEM production for only two major brands is over 10% of total exports. Cambodia has hardly any yarn/fabric manufacturing, so it imports these with over 5 billion USD value annually. Value of annual cut waste is nearly 1 billion USD, and nearly all of this material ends up now either to be burned in the boilers or at landfills.So naturally there is an opportunity and interest to find better use for this potentially valuable recycling feedstock.
In addition local factories are pressured by their customers, leading OEM brands, to be more environmentally friendly and to meet increasing sustainability requirements. Local energy supply is not very reliable, causing occasional interruptions in production. Some factories have started to invest e.g. for rooftop solar and would naturally be interested in finding other energy saving solutions.
For more information of these opportunities and supplementary documents, please contact Kai Tuorila, Counsellor for Trade and Investment, Embassy of Finland in Bangkok, email@example.com .
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