JETRO Bangkok backs Thai SMEs

CHIANG MAI, 28 November 2009 (NNT) – JETRO Bangkok Intellectual Property vowed to support Thailand’s small and medium business enterprises (SMEs). The business consultant centers will be appointed at Chiang Mai and Surat Thani Chambers of Commerce to facilitate investments in Thailand.

JETRO Bangkok President Mr Munenori Yamada yesterday gave a speech during the 27th Chamber of Commerce conference in Chiang Mai under the topic “Key Success Factors in SMEs Development : Lessons learned from Japan”. He stated that Japan has started to support SMEs at the time of the world economic crisis in 1999. The SMEs were believed to play an important role in the country’s economic development, although the biggest disadvantage was the lack of funds, poor marketing strategies and up-to-date technologies.

As a result, Japan has come up with the law to protect SMEs as well as to promote business creativity. Four policies have been adopted to support both weak and strong SMEs, whether in the form of direct or indirect supports.

Mr Yamada elaborated that SMEs in Thailand and Japan are facing the same problems as the government tends to stimulate urban economy rather than local. SME implementations are also facing globalization competition and the lack of IT tools. He narrated that the enterprises cannot survive without export promotion.

As a result, Japanese government has launched 316 SME consulting services across the countries to be the information provider and business trainer for the SMEs entrepreneurs. After the training, five million THB loan will be activate without having to provide a guarantor. Since 10% of the system loan has been activated in Japan, while 0.4% of the loan has been activated in Thailand. JETRO Bangkok would adopt the mentioned service in Chiang Mai and Surat Thani in order to strengthen the Thai SMEs.