Business regulations relaxed to help flood affected entrepreneurs

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BANGKOK, 19 October 2011 -The Commerce Ministry has instructed the Department of Business Development (DBD) to be more lenient in business requirements for business owners who have been affected by the floods. It also asks Thai commercial attaches abroad to step up measures to boost confidence of the international community on Thai exports.

Deputy Commerce Minister Mr. Siriwat Kajornprasart said some of the business requirements would be relaxed in a bid to resuscitate the commercial sector from impact of inundation. The measures likely include extension of the period to submit the annual investment budget and other accounting paperwork.

The DBD has already started compiling data on damages made to trade organizations and businesses which will be used in the formulation of plans to help entrepreneurs get back on their feet. As the severity of floods continues to prevail, greater damages to businesses are expected.

The Department of Export Promotion is quickly finding alternative routes to transport Thai commodities particularly farm products from inundated zones. In addition, Thai commercial counsellors around the world have been instructed to clarify and build confidence in the Thai export sector with other nations. For those who need business assistance, they can call 1570 for more information.