Thai DPM: More SME owners interested in formal registration

DPM: More SME owners interested in formal registration

BANGKOK, 9 April 2015 (NNT) - The number of SME owners interested in registering their businesses for the formal SMEs system has increased through aids and benefits from the government sector, says the Deputy Prime Minister.

The Deputy Prime Minister on Economy Pridiyathorn Devakula has revealed after holding discussion sessions with the private sector at the government house, that the discussion covers many aspects such as the aid measures from the government sector to SME owners and agricultural zoning.

In this discussion, the DPM has said that the private sector has requested the government to grant amnesty to informal SME owners, exempting them from unpaid tax, in order to attract them to register under the formal SMEs system.

On this issue, the Federation of Thai Industries and the Thai Chamber of Commerce have been appointed to set up a team to design measures to attract SME owners to register in the formal SME system. The Ministry of Finance will be designing aid measures on taxation and funding for SME businesses with the initial plan to assign the Thai Credit Guarantee Corporation to help assist in guarantees to help boost and upgrade SME businesses.

There are currently about 700,000 SME owners in commercial sector, 461,000 of which are indebted with loans from commercial banks.

The DPM has revealed the outcome of the discussion on the agricultural land zoning to promote the cultivation of tapioca instead of rice that 1 million rais of land are suitable for the transformation from the initially surveyed 700,000 rais. The Ministry of Agricultural and Cooperatives will further check the area for any overlapping land, and will establish the direct selling contract with the sugar factory operators.

From this discussion, the Ministry of Industry has been appointed to study the guidelines of the Product of Thailand quality certification that is expected to upgrade the positioning of Thai products to the premium markets and could increase sales in neighboring countries. The Board of Investment (BOI) will study and establish the form of benefits, which will then be


-- NNT 2015-04-09