Over a dozen of Thai SME projects given green light

BANGKOK, August 30 (TNA) - In an effort to increase gross domestic product (GDP) of Thailand's small and medium-sized enterprises (SMEs) to 38 per cent of the country's total GDP and the number of local SMEs by another 50,000, authorities have approved a move to urgently promote and develop local SMEs in 2015. Wimonkan Kosumas], Deputy Director-General of the Office of Small and Medium Enterprises Promotion (OSMEP), told reporters that the move was approved during Friday (Aug 29)'s meeting of the OSMEP board, chaired by Prime Minister General Prayuth Chan-ocha, who is also Army and National Council for Peace and Order (NCPO) Chief. Wimonkan elaborated that under the plan, the OSMEP board gave the green light to 13 projects involving four strategies to be immediately implemented. The first strategy calls for the state to promote local SMEs so that they can operate efficiently, while the second requires SMEs development,including the establishment of SME online business centre. The third strategy calls for creating added value for SMEs goods and services and the last strategy calls for building networks between the state and SMEs operators both in and outside the country, especially among member countries of the Association of Southeast Asian Nations (ASEAN). The OSMEP board also gave approval on categorising SMEs which should receive state backing from 2015–2016, resolving that those eligible to receive assistance will be those earning a large amount of revenues for the country, using locally-made raw materials and having potential to sustain growth in the future. (TNA)