Thailand To Speed Up Reforms, Boost SMEs To Strengthen Industrial Competitiveness

By Kenny Teng

BANGKOK, Jan 20 (Bernama) -- The Thai government has acknowledged the Senate’s proposal to “unlock obstacles facing Thai industry” and will move to accelerate legal reforms, strengthen support for small and medium-sized enterprises (SMEs) and upgrade workforce skills to enhance long-term competitiveness, a government spokesperson said Tuesday.

Deputy Prime Minister’s Office Spokesperson Lalida Periswiwatthana said the Ministry of Industry had submitted the findings of a study entitled “Factors Hindering and Guidelines to Address Obstacles to the Development of Thai Industry”, based on a report by the Senate Committee on Commerce and Industry, for policy-level consideration.

She said the report found that while Thai industry remains a key driver of economic growth, employment and national income, it continues to face major constraints, including outdated laws and regulations, limited access to financing, lagging technological development and a shortage of suitably skilled labour.

“These challenges have undermined international competitiveness and sustainable growth,” she said in a statement following a Cabinet meeting chaired by Prime Minister Anutin Charnvirakul on Tuesday.

Lalida said relevant agencies had jointly reviewed the findings and agreed to address the issues systematically through a three-phase approach aimed at delivering tangible outcomes in the short, medium and long term.

In the urgent phase, she said the government will focus on updating and enforcing laws and regulations, streamlining procedures, shortening approval timelines, reducing costs and enhancing transparency.

Priority will also be given to assisting entrepreneurs, particularly SMEs, through improved access to working capital, financial preparedness, advisory services and support for the adoption of digital technology, data and artificial intelligence in production processes, she said.

She added that measures to strengthen protection for Thai businesses against unfair competition and to address SME-related debt issues would also be pursued.

Lalida said implementation has involved coordinated deliberations with key agencies, including the ministries of Higher Education, Science, Research and Innovation; Interior; Digital Economy and Society; Commerce; Education; and Labour, as well as the National Economic and Social Development Council and other relevant bodies.

The aim, she said, is to ensure policy coherence, reduce duplication of mechanisms and improve the efficiency of public sector operations.

She added that the conclusions would be submitted to the Cabinet for acknowledgement in accordance with procedures, and the outcome would be reported to the Senate.

-- BERNAMA