Thai Prime Minister Paetongtarn Shinawatra. — Bloomberg
BANGKOK: Thai Prime Minister Paetongtarn Shinawatra was joined by several of her ministers at the launch of her administration’s economic recovery programme.The event, held at government house, was also attended by representatives from the public and private sectors including CP Group, The Mall Group, SeaValue, Thai Union and BJC Big C.
Paetongtarn said that the programme is crucial for maintaining the momentum in stimulating the Thai economy to ensure maximum efficiency and value.
This round focuses on small businesses, which make up 90% of all businesses and form the backbone of the Thai economy, with the programme designed to reduce costs, increase income, and expand opportunities over five months.
“The government expects to stimulate the economy by up to 110 billion baht.
“This is the result of a strong collaboration among all sectors to revive the nation’s economy.
“The government drives policy, while the private sector plays a key role in supporting practical implementation,” said Paetongtarn.
The programme has been running since September and will continue until January next year.
The key elements of the programme are as follows:
> Cost reduction for small businesses: This includes rent reductions for shops and stalls in the government and private sectors.
For example, in Bangkok, rent has been reduced by up to 50% in 12 major markets, benefiting around 11,000 vendors.
The Commerce Ministry and other government agencies have waived rent for over 3,000 businesses.
> Increasing sales spaces for small businesses: The government and private sectors are offering additional spaces for small businesses, such as provincial government halls and over 1,300 commercial markets across Thailand and
> Reducing living costs for citizens: Through partnerships with major producers and wholesalers, the programme reduces prices on consumer goods. It is anticipated that the economic stimulus will reach its target by the end of this project. — The Nation/ANN
