Industry proposes survival strategies

Thai Gem and Jewellery Traders Association will propose three priority plans to the government, including the waive of value-added tax on raw material imports and the establishment of the Gem Bank to support small and medium-sized enterprises (SMEs).

The other proposal is to promote exports to new potential markets.

The proposal will be submitted to the elected government to ensure the sustainable growth for the industry, said Vichai Assarasakorn, newly-appointed president of the association.

Vichai the plans would boost export by 10 per cent to US$4.5 billion (Bt176 billion) next year. The plan would also ensure that

almost one million labourers in the industry would survive despite many negative factors affecting the industry's growth this year.

Gem and jewellery is one of Thailand's key export products. Its export value this year is expected to reach US$4.1 billion.

- The Nation

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Industry proposes survival strategies

Thai Gem and Jewellery Traders Association will propose three priority plans to the government, including the waive of value-added tax on raw material imports and the establishment of the Gem Bank to support small and medium-sized enterprises (SMEs).

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