The private sector and people must join hands to drive Thai economy

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BANGKOK – Prime Minister Gen Prayut Chan-o-cha has confirmed in a seminar that the government has put emphasis on all players in the SME sector, but the people and the private sector should also team up to form a powerful force in driving Thai economy.

In his speech to the seminar entitled “Moving SMEs, Moving Thai Economy”, the Prime Minister invited SME operators to register their businesses with the official system, draw up clear business plans and maintain good accounting. These would increase their trustworthiness and ensure their access to financial sources. The Prime Minister also affirmed the government has never had an idea to collect SME tax retroactively.

The Prime Minister added that the 100-billion-baht soft loan recently offered by the government to SMEs was merely a preliminary measure to help SMEs expand their business in the initial stage.

He also urged that SMEs use social media in their marketing strategy to increase consumer access to their products and services. Domestically made products should show creative and distinctive designs that respond to an exact demand of consumers.

SMEs, he said, should understand laws and regulations both in Thailand and countries they are expanding businesses to. He called on large-scale enterprises to grow more connections with SMEs to stimulate local production and flows of funds in the country.