SME Industrial Estates to be set up in Thailand

BANGKOK, May 25 (TNA) - Realising that businesses of small- and medium-sized enterprises (SMEs) would continue growing in Thailand, the state-run Industrial Estate Authority of Thailand (IEAT) has decided to establish SME Industrial Estate for the first time in the kingdom. Witoon Simachokedee, Chairman of IEAT, said SME Industrial Estate would be initially set up in Central, Northern and Northeastern regions, aimed at strengthening competitiveness of SME operators, preventing workers from travelling and searching for jobs in the capital, and improving people’s income in the rural areas. SMEs operating within the SME Industrial Estate will be equipped with complete basic infrastructure and enjoying several incentives, Witoon said. The idea on setting up SME Industrial Estates comes after a projection that SME businesses in Thailand in 2014 would sustain growth of between 20-30 per cent, Witoon said. Presently, SME businesses command 99.8 per cent of total enterprises in Thailand, he said. Gross domestic product (GDP) of SMEs in 2012 was about 3.12 trillion baht, equivalent to 37.1 per cent of total national GDP. There are more than 2.7 million SME firms in the country now. It is estimated that this year GDP from SMEs would continue to grow by 5.1 per cent. (TNA)