Industry Ministry approves loans worth ฿70m to SMEs

Industry Ministry approves loans worth ฿70m to SMEs

BANGKOK (NNT) - The Permanent Secretary for Industry, Kobchai Sungsittisawat, said today the government approved 70.8 million baht in soft loans for 28 small and medium-sized enterprises (SMEs) between November 15 and December 20 this year. The government is offering soft loans worth 3 billion baht to SMEs, under its Pracha Rat scheme.

The Permanent Secretary for Industry said about 700 users have applied for loans worth more than 2 billion baht. A committee managing the SME Development Fund is now looking into their applications. The seven provinces with the highest number of SMEs applying for loans are Bangkok, Samut Prakan, Songkhla, Samut Sakhon, Pathum Thani, Nakhon Pathom and Phuket.

The committee also approved five SME promotion and development projects for next year. The projects aim to establish an industrial reform center, apply advanced technologies to increase the capabilities of the food industry, strengthen SMEs in the processed food industry, add value to creative industrial products in line with the Circular Economy concept and encourage businesses to use knowledge generated from research and innovation processes.

The projects are to promote and develop SMEs in all respects, encompassing technology and innovation, while moving toward a more sustainable bio-based economy. They are expected to generate 150 million baht in economic value.