Govt wants Thailand to be No.1 in Asian business market by 2027

Photo via B Trip News

The Deputy PM and Commerce Minister, Jurin Laksanavisit, has set an ambitious target for Thai brands and businesses to be top of the Asian market by 2027.

The Deputy Spokesperson of the PM Office, Ratchada Thanadirek, yesterday reported that Commerce Minister Jurin was working on a project called “Promoting Thai Brands to the World” to develop Thai brands and businesses into global market leaders.

The project is to push and encourage small and medium-sized enterprises (SMEs) in Thailand onto the world’s stage. Ratchada added the government would support and advise Thai SMEs on how to add value to their products and services and provide knowledge about creating brands, designing products, and using innovation and creativity to level up the products.

Ratchada said the Commerce Ministry would focus on the Asian and Oceania market, especially India, which is Thailand’s No.1 business partner. The market in India is going to be the project’s first target. Thai products on focus are food, beverages, pet products, healthcare and spa products, home decors, and household appliances.

The Ministry of Commerce wants Thai businesses that fit the model to step forward and join the project. The department wants 30 of Thailand’s most suitable businesses to showcase their wares or ideas at the Thai Brand Festival. From that 30 the Department of International Trade Promotion will pick the best 20 brands to showcase their products at Jio World Drive in Mumbai city of India.

Ratchada revealed that the Commerce Ministry would repeat the model when targeting other countries until Thailand becomes the leading business nation in Asia.

SOURCE: Khaosod | Thairath | National News Bureau of Thailand

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Petch Petpailin

Petpailin, or Petch, is a Thai translator and writer for The Thaiger focusing on Thai news and what's happening in Thailand. She is a news writer who stops reading news on the weekends to spend more time cafe hopping and petting dwarf shrimp.