Bangkok: The Board of Investment (BOI) and the Thai Chamber of Commerce have announced a strategic collaboration aimed at addressing the challenges posed by modern global trade and transforming small and medium-sized enterprises (SMEs) into a pivotal component of the Thai economy. The partnership is set to enhance the capabilities of Thai SMEs, enabling them to navigate volatile trade measures, rising production costs, and heightened technological competition by integrating them into the supply chains of emerging industries.
According to Thai News Agency, Mr. Narut Teodsathirasak, Secretary-General of the BOI, led a delegation of BOI executives to a meeting with the Thai Chamber of Commerce, headed by Mr. Poj Aramwattananon. The discussions centered on investment promotion strategies to drive the Thai economy and bolster the capabilities of Thai entrepreneurs, particularly SMEs, to tackle trade measures and challenges posed by the global economy. The focus was also on connecting Thai entrepreneurs to modern industry supply chains through domestic component sourcing, technology transfers, and joint ventures with foreign businesses.
Mr. Narut highlighted that the global economy is undergoing structural changes, including trade tensions, technological shifts, new environmental standards, and global supply chain restructuring. These changes directly impact Thai entrepreneurs, especially SMEs, which form a crucial foundation of the country's economy. The collaboration with the Thai Chamber of Commerce is significant in creating mechanisms that support Thai SMEs in adapting and competing globally. Both parties have agreed on five key cooperation areas to strengthen the Thai economy.
The five agendas include elevating the competitiveness of Thai entrepreneurs by supporting the adoption of modern technologies, developing highly skilled Thai personnel for modern industries, integrating Thai SMEs into the supply chains of new industries, promoting the service and tourism sectors, and increasing business convenience through mechanisms like the Thailand FastPass.
The BOI, in collaboration with partner banks, will facilitate access to these measures through SME centers across provincial chambers of commerce. The Thai Chamber of Commerce will encourage member companies to participate in advanced skills training under the government's Skill Bridge project, with the BOI providing training subsidies.
The collaboration aims to increase access to government support for Thai SMEs, particularly those affiliated with the Thai Chamber of Commerce. Mr. Narut emphasized the importance of designing targeted support measures that balance attracting new investment with strengthening Thai businesses, ensuring SMEs not only adapt to external pressures but also leverage global economic changes for growth.
Mr. Poj noted that the private sector values clarity and continuity in government policies, especially those aiding SMEs in upgrading production standards, accessing new markets, and connecting with global supply chains. The Thai Chamber of Commerce is prepared to work closely with the BOI to advocate for support measures that enable Thai SMEs to adapt and grow sustainably in today's competitive environment.
This initiative underscores a proactive collaboration between the public and private sectors to fortify Thai entrepreneurs, making them a driving force in achieving balanced and sustainable long-term economic growth in Thailand.