Immediate help for SMEs leads to Thailand economic crisis recovery

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Private sector viewed that financial assistance including soft loans alone would not be enough to help SMEs, they also needed knowledge and marketing channels.

Prime Minister Prayut Chan-o-cha convened the first meeting of the Centre for Economic Situation Administration while the private sector urged for immediate help for SMEs.


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Kalin Sarasin, chairman of the Thai Chamber of Commerce, said the prime minister, as the chairman of the centre, convened its first meeting at Government House and the Joint Standing Committee on Commerce Industry and Banking (JSCCIB) would propose economic stimulus measures then.

Kalin Sarasin, chairman of the Thai Chamber of Commerce.

He said the private sector supported the formation of the centre because it would speed up assistance for COVID-19-affected businesses, especially small and medium-sized enterprises.

Mr Kalin said the private sector viewed that financial assistance including soft loans alone would not be enough to help SMEs. They also needed knowledge and marketing channels, he said.

He also said that JSCCIB planned to draft an economic recovery plan together with the Thailand Tourism Council, the Thai National Shippers’ Council and the Federation of Thai Capital Market Organizations.

JSCCIB would also propose promotion for wellness tourism, high-value farm products, SMEs’ opportunities, tax assistance for COVID-19-affected parties and Thailand’s roles as the regional center for trade and investment, Mr Kalin said. (TNA)