Thailand’s Tourism Ministry Plans to Seek Soft Loans to Help Tourism Businesses

[snoop1130]

 

BANGKOK (NNT) - Thailand’s Tourism and Sports Ministry plans to ask the Finance Ministry for 10 billion baht in soft loans to help operators prepare their businesses for the mid-October reopening of the country.

 

Minister Phlipat Ratchakitprakarn said that, if the Phuket “sandbox” project runs smoothly, the Tourism and Sports Ministry will use the opportunity to hold discussions with the Finance Ministry over an allocation of soft loans, from the government’s 500-billion-baht borrowing, to help relieve the economic impact of the COVID-19 pandemic.

 

He said, if the tourism soft loans are approved, operators can use a cross-guarantee measure, which allows firms to act as loan guarantors for each other.

 

Mr. Phlipat said domestic tourists can help operators stay afloat, while awaiting the return of foreign tourists, adding that, apart from the 10 zones with strict COVID-19 controls, in which people are urged to limit their movements, there are opportunities in other provinces to resume leisure activities.

 

-- © Copyright NNT 2021-07-05

 

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[ukrules]

I think we're beyond the recovery stage right now, they should liquidate it all.

[ozzydon]

They should have done this last year unfortnatly its too late for a lot of them  these reserves must be getting smaller if they exist

[RotBenz8888]

1 hour ago, snoop1130 said:

Mr. Phlipat said domestic tourists can help operators stay afloat, while awaiting the return of foreign tourists

Stay afloat....

[billd766]

What a wonderful idea helping out the tourist industry.

 

Never mind the rest of the country, just help the tourist industry.

 

There are millions more people all over Thailand out of a job and little hope of getting one, than there are people in the tourist industry.

 

As Ebenezer Scrooge so nicely put it.

 

Bah, Humbug.

[RichardColeman]

 

2 hours ago, snoop1130 said:

He said, if the tourism soft loans are approved, operators can use a cross-guarantee measure, which allows firms to act as loan guarantors for each other.

?  Is this a

'I'm in debt I need a loan. Will you be my guarantor ? 

OK, but I'm in debt too, so, you'll have to be mine.

 

sort of situation?

 

 

 

[sammieuk1]

You would have to be right bleeding soft for starters to go guarantor in this self made financial apocalypse 

[Venom]

....????

[BestB]

Did that last year, loans were to be applied for at SME bank but somehow never made it to any business . Billions of supposed soft loans just evaporated into thin air . 

[hotchilli]

16 hours ago, snoop1130 said:

Thailand’s Tourism and Sports Ministry plans to ask the Finance Ministry for 10 billion baht in soft loans to help operators prepare their businesses for the mid-October reopening of the country.

Lol... best of luck

with the doors open in October you're on your own... no more bailouts.

[hotchilli]

29 minutes ago, Sticky Rice Balls said:

Soft Loans of Hard Cash---Thai style..gently na ka ????

"Can I borrow" where've I heard that before?