What is bio-economy or bio-based economy?
A. According to the Organization of Economic Cooperation and Development (OECD), a bio-economy is an economy based on biological processes and renewable bioresources to produce improved health and sustainable growth and development. A bio-based economy is one that uses renewable bioresources, efficient bioprocesses and eco-industrial clusters to produce sustainable bioproducts, jobs and income. The key idea is an economy based on the use of renewable bioproducts that reduce the population’s dependency on fossil fuels and their derivatives for energy, materials, chemicals and many other products.
