Thai SMEs strengthened in lead-up to AEC

SONGKHLA, THAILAND, March 14 (TNA) - The Thai government is strengthening local small and medium-sized enterprises (SMEs) in the lead-up to the ASEAN Economic Community (AEC), set to be formed by the end of this year. Thai Finance Minister Sommai Pasi announced the move on Friday (Mar 13), when he opened the 5th Money Expo Hat Yai 2015 in the southern Songkhla Province, set from March 13-15, in which 34 financial institutes participate. Sommai said the Thai government is assisting local SMEs to have an access to borrowing funds, while also acting as a guarantor for potential SMEs, offering a 5 per cent corporate tax cut, from 20 per cent to 15 per cent, for those having registered capital less than five million baht and revenues not exceeding 30 million baht, promoting their innovative products and providing capital for those wanting to expand their busineses. Hat Yai, wellknown as Thailand's southern business hub and located near Sadao District bordering Malaysia, has been set by the government as one of the country's five special border economic zones and the local economy in Hat Yai is, therefore, expected to boom further after the AEC is formed. (TNA)