Search Results for: SMEs' competitiveness
- Business News
Thailand boosts SMEs growth in upcoming Synergy Expo 2024
Thailand is set to boost marketing opportunities for small and medium-sized enterprises (SMEs) through the newly announced Thailand SME Synergy Expo 2024. This five-day trade show, running from June 19 to 23 at the Queen Sirikit National Convention Center in Bangkok, is a collaborative effort by the Business Development Department (DBD), the Office of SMEs Promotion (Osmep), and several governmental…
- Business News
FTI urges support for Thai SMEs to boost global herbal medicine exports
The Federation of Thai Industries (FTI) urged the government to strengthen its support for small and medium-sized enterprises (SMEs) involved in herbal development and production. The move is aimed at enhancing their global competitiveness and propelling Thailand into the top 10 herbal medicine exporters worldwide. SMEs in the sector are currently struggling with insufficient funds for research and development, and…
- Business News
BAAC organises Japan trip to boost Thai farmers’ global market competitiveness
The Bank for Agriculture and Agricultural Cooperatives (BAAC), led by its president, Chatchai Sirilai, has organised an overseas business study trip to Fukuoka, Japan, from October 20 to October 24. The initiative aimed to aid small-scale Thai farmers and farming businesses by enhancing their business efficiency and competitiveness in the global market. The trip provided an opportunity for knowledge exchange…
- Thailand News
Thailand to launch 50 billion baht SME support scheme
Thailand’s Ministry of Finance is set to endorse a new credit guarantee scheme, known as PGS 11, with a funding pool of 50 billion baht (US$1.4 billion baht). This initiative, revealed by Radaklao Intawong Suwankiri, the Deputy Government Spokesperson, is designed to bolster small and medium enterprises (SMEs) in three key industries. Radaklao announced today that Krissada Chinavicharana, the Deputy…
- Business News
Finance minister orchestrates with BoT for fiscal symphony
Finance Minister Pichai Chunhavajira is adopting a more cooperative stance towards the Bank of Thailand (BoT) compared to the Thai prime minister, aiming to align fiscal and monetary policies more effectively. Prime Minister Srettha Thavisin has been advocating for interest rate cuts to stimulate the economy. Pichai, however, has shifted the focus towards enhancing public access to finance, expressing his concerns…
- Thailand News
Thai noodle giant unfazed by minimum wage increase to 400 baht
The imminent nationwide increase in the minimum wage to 400 baht holds little concern for major noodle producer Thai President Foods PCL, the maker of the popular instant noodle brand Mama, which believes the company’s ability to adapt will mitigate any significant impact, highlighting instead the potential challenges this wage hike could pose to smaller enterprises and small and medium-sized…
- Business News
Thai shippers forecast modest growth amid wage increase concern
The Thai National Shippers’ Council (TNSC) projects a 1% to 2% growth in exports for the current year and urges a thoughtful approach to the proposed increase in the daily minimum wage, supplemented by government support via the wage committee mechanism. TNSC chairman Chaichan Chareonsuk anticipates a 1 to 2% increase in the nation’s exports by March this year. Chaichan…
- Pattaya News
Thai Chamber of Commerce highlights 10 top tourist provinces
The Thai Chamber of Commerce (TCC) set in motion plans to promote 10 provinces within the country as first-tier tourist destinations. The selected provinces of Phrae, Lampang, Nakhon Sawan, Nakhon Phanom, Sisaket, Chanthaburi, Ratchaburi, Kanchanaburi, Trang, and Nakhon Si Thammarat will soon be under the international spotlight as they prepare to welcome an influx of tourists. This initiative is part…
- Business News
LiVE Fin Corp launches new S curve to capital market initiative
LiVE Fin Corp, under the aegis of the Stock Exchange of Thailand (SET), has set in motion a new initiative that seeks to bolster the potential of 60 entrepreneurial entities, startups, and small to medium-sized enterprises (SMEs) in high-growth sectors. The initiative, christened “New S Curve to Capital Market,” has been crafted in partnership with KPMG Thailand, the National Innovation…
- Business News
Thai govt accelerates Thai-European FTA negotiations
The Thai government is speeding up negotiations for the Thai-European Free Trade Association (EFTA) to conclude within the current year. This information followed a discussion between Commerce Minister Phuntham Wechayachai and Swiss Ambassador Pedro Zwahlen. The minister revealed that the talks are being hastened following the policy of Prime Minister Srettha Thavisin’s administration, which desires to expand opportunities and bolster…
- Business News
Thai e-commerce faces shake-up due to new revenue department mandate
Thailand’s e-commerce industry is set for a shake-up following a recent decision by the Revenue Department to mandate digital platforms to report income earned from their online sellers. Analysts predict that this may result in a 10% reduction in the number of online shops on platforms, as some merchants may resist revealing their true earnings. The move is aimed at…
- Business News
Thailand’s economic growth potentially in decline, SCB EIC warns
The Siam Commercial Bank’s research wing, SCB Economic Intelligence Center (EIC), expressed concern over the potential decline in Thailand’s long-term economic growth. It has attributed this to enduring structural problems, such as low investment, diminished total factor productivity, and the economic impact of the pandemic. Chief Economist at SCB EIC, Somprawin Manprasert, revealed that Thailand’s economic recovery has been more…
- Business News
Power play: FTI cheers new government’s energy cost pledge
The Federation of Thai Industries (FTI) expressed its satisfaction with the newly elected government’s commitment to lowering energy costs and retail diesel prices. Newly inaugurated Prime Minister Srettha Thavisin has prioritised energy price reductions as an early objective of his administration. An immediate cut in energy prices has been promised by the 61 year old Srettha and his Cabinet upon…
- Business News
Business events sector in Thailand set for a boost with projected tourism rebound
The business events sector in Thailand is set to benefit from the buoyancy of the country’s tourism industry and a new influx of trade shows this year, fuelled in part by the country’s stable political environment, according to specialists at Informa Markets Thailand. Sanchai Noombunnam, who helms the firm in Thailand, drew attention to predictions that the country would recoup…
- World News
Malaysia’s NIMP2030 to boost economic complexity, targeting key sectors
The Ministry of Investment, Trade and Industry in Malaysia is working on the New Industrial Master Plan 2030 (NIMP2030) to drive industrial development and increase the nation’s economic complexity. Set to launch in August, NIMP2030 aims to align with the New Investment Policy (NIP), which has identified five key sectors for enhancing future exports of complex products. These sectors include…
- News
Alibaba to invest 11 billion baht in Thailand
Chinese e-commerce giant Alibaba Group has committed to invest a combined 11 billion baht in Thailand in a move that PM Prayut Chan-o-cha says could benefit the country’s small farmers and rural enterprises due to the firm’s expertise in diverse technology. “Jack Ma (Alibaba’s co-founder and executive chairman) told me he does not solely look for profits because Alibaba already…
