Industry Ministry prepares risk management scheme for SMEs in face of EU crisis

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BANGKOK, 27 June 2012  – The Department of Industrial Promotions (DIP) is collaborating with the Thailand Productivity Institute in devising a risk management scheme for SMEs to cope with the European Union financial crisis. 

DIP Director-General Pasu Loharjun commented that the department is currently discussing with the Thailand Productivity Institute to establish a risk management program for SME entrepreneurs, in order to help them adapt to such crisis as the ongoing European economic slump.

Expected to be ready by August, the risk management scheme is aimed at helping SMEs face as little negative impact as possible from external factors. Entrepreneurs will be suggested to distribute purchase orders to members of the same cluster, cooperating with many suppliers and finding alternative markets to spread risks. The program will save up at least 100,000 baht in budget for each factory.

Mr. Pasu also added that uniting together in a cluster is a good way of lowering production costs for the factories. There are currently 50 cluster groups, including the Petchkasem Textile and Garment Cluster, the Thai Food Cluster, the Thai Leather Cluster, the Sweet Corn Cluster and the Ceramic Cluster, among others.

Meanwhile, the DIP is currently hosting “Cluster Day 2012” with the objective of reinforcing the competitiveness and increasing market channels for SME entrepreneurs. Held during 26th-29th June, the event is expected to generate a revenue of 800,000 baht.