Thailand Prioritises SMEs with Financial Aid and Tech Support Boost

[snoop1130]

 

In an effort to bolster Thailand's small and medium-sized enterprises (SMEs), Industry Minister Akanat Promphan has unveiled initiatives designed to ease financial pressures and enhance technological capabilities within the sector. As part of a broader push to reform the nation's manufacturing industry, the ministry will channel support through an SME development fund aimed at mitigating liquidity challenges these businesses often face. A substantial 1.9 billion baht (approximately £47 million) in low-interest loans is earmarked to sharpen competitive edges and promote sustainable growth.

 

The minister has also set sights on creating an Industrial Reform Fund, consolidating multiple existing funds to refine focus and efficiency, with an impressive budget of over 20 billion baht (£500 million). In further financial relief efforts, a proposed collaboration with the Small and Medium Enterprise Development Bank of Thailand will introduce a debt moratorium, granting a three-month suspension on principal repayments for SMEs.

To ensure SMEs remain competitive in the digital era, Akanat is fast-tracking the launch of the I-EA-T Incubation Centre for SMEs in Bangkok. Slated for completion by the end of the year within the Lat Krabang industrial estate, the centre will be a hub for sharing cutting-edge technological resources, operated by the Industrial Estate Authority of Thailand (IEAT).

 

These initiatives underscore the ministry’s commitment to supporting SMEs, ensuring they not only survive but thrive in the evolving global market landscape.

 

File photo for reference only

 

-- 2024-10-16

 

 

[Tropicalevo]

Loans are not much help if your business is struggling.

It needs reduced costs.

Loans assume that things will get better and you can pay them back eventually, plus the interest.

I do not see things getting better in Thailand any time soon.The government is thrashing around like a dying shark. Just like the previous one that got Thailand into this mess.

[hotchilli]

13 hours ago, snoop1130 said:

In an effort to bolster Thailand's small and medium-sized enterprises (SMEs), Industry Minister Akanat Promphan has unveiled initiatives designed to ease financial pressures and enhance technological capabilities within the sector. As part of a broader push to reform the nation's manufacturing industry, the ministry will channel support through an SME development fund aimed at mitigating liquidity challenges these businesses often face. A substantial 1.9 billion baht (approximately £47 million) in low-interest loans is earmarked to sharpen competitive edges and promote sustainable growth.

Borrow more money to keep an ailing business afloat that makes little or no profit... yeah

that always works.