Thailand aims to boost SME contribution to GDP by 300 billion baht in 2024

Aiming to raise small and medium-sized enterprises (SMEs) contribution to the nation’s GDP to 6.6 trillion baht in the next year. Thailand’s Commerce Ministry is set to collaborate with private firms. This expected increase of 300 billion baht from the current year is part of the ministry’s strategic roadmap for SME development.

Deputy Commerce Minister Napintorn Srisanpang unveiled the plan, revealing that a subcommittee for SME promotion has agreed on a framework to increase SMEs’ contribution to GDP. Currently, SMEs contribute 6.3 trillion baht, equivalent to 35.2% of GDP. The proposed roadmap intends to raise this figure to 36% in the next year, ultimately reaching a 40% GDP contribution by 2027, a further increase of 500 billion baht.

This ambitious plan consists of nine strategies designed to boost SME income. The first strategy involves…