Cabinet approves another 5bn baht for SMEs

BANGKOK:-- THE CABINET has approved more measures worth Bt5 billion to support small and medium-sized enterprises in a bid to increase their competitiveness, Industry Minister Atchaka Sibunruang said.

The ministry expects the measures will help around 100,000 SMEs.

The Finance Ministry earlier introduced a Bt100-billion policy loan programme offering 4-per-cent interest rates and a Bt100-billion guarantee scheme for SMEs loans along with Bt6 billion worth of state venture-capital funds to increase SMEs' liquidity.

This second round of measures is meant to support that initial effort, Atchaka said.

The Bt5-billion budget includes Bt2.947 billion to strengthen SMEs that are currently operating, which is expected to help 55,338 operators. Another Bt408.47 million will support SMEs' innovations and new start-ups, benefiting 22,715 operators.

Source: http://www.nationmultimedia.com/breakingnews/Cabinet-approves-another-5-bn-30271701.html

-- The Nation 2015-10-27

Um, populist policy for the already successful? Nice low interest subsidy, I say. The Thai definition of an SME includes private schools, who already collect tuition from students and already get subsidies from the MOE to the tune of about 30,000 baht per semester per student.

Let them eat cake, but you get cake and ice cream!

wow, plenty of money to fill brown bags to pay off friends and people!!

Bt6 billion worth of state venture-capital funds to increase SMEs' liquidity.

To increase liquidity funds would either have to be used to purchase stock in SME's or be treated as grants. This approach seems entirely open-ended to abuse and waste. Good for SME owners who won't be accountable for fnud use, bad for the Thai taxpayer.