Commerce Ministry’s plan to catapult SMEs to 40% GDP by 2027

The Commerce Ministry unleashed an ambitious plan to elevate small and medium-sized enterprises (SMEs) to new heights, targeting a staggering 40% contribution to the GDP by 2027.

A comprehensive strategy is set to turbocharge consumption, investment, government spending, and international trade, propelling SMEs into the forefront of economic prowess.

Acknowledging the pivotal role SMEs play in Thailand’s economic fabric, Commerce Minister Phumtham Wechayachai and Deputy Napintorn Srisunpang are spearheading an initiative to boost the trade activities of SMEs, aiming for a seismic shift in their GDP contribution.

SMEs, constituting a staggering 99.5% of all businesses and employing 70% of Thailand’s workforce, are the heartbeat of the nation’s economic engine. Poonpong Naiyanapakorn, Director-General of the Trade Policy and Strategy Office…