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Economy February 15, 2018 01:00

By The Nation

BID TO HELP SMES VENTURE ABROAD



Commerce Minister Sontirat Sontijirawong has held a brainstorming session with experts from the private sector on measures in support of SMEs this year, focusing on establishing manufacturing bases and co-markets with Thailand’s neighbouring countries and further penetration into Cambodia, Laos, Myanmar and Vietnam (CLMV).

The Ministry of Commerce (MOC) has formed an advisory team to the Commerce Minister with trade experts in the CLMV market as well as a working group tasked with proactive penetration into Asean.The working group is responsible for the promotion of trade, services and investment in other countries (D4) to drive international trade and investment.

The D4 plan focuses on connectivity with related businesses in supply chains, establish manufacturing bases and co-markets with neighbouring countries, while supporting Thailand as a centre in the sub-region. 

MOC has invited executives of large-sized enterprises investing in other countries to act as regional advisors on SMEs’ expansion abroad. 

The Department of International Trade Promotion has been assigned to hold a meeting between Chanit Chanchainarong who acts as the regional advisor for CLMV, chairman of the working group to drive Mr. Asean, inspector-generals for commerce, chairman of D4 working group, the regional advisor for Asean, chairman of Thai Business Council, and executives from Thai commercial banks to discuss the strategic integration and work plan for Asean with CLMV in particular. 

DIGITAL TRANSACTIONS ACT 

The government will next week set up a working committee on the new digital transactions act in preparation for the increasing role of the digital currency system. 

Chaired by Kobsak Pootrakul, Minister attached to the Prime Minister's Office, the new committee will work in complement to those conducted by the Ministry of Digital Economy and Society to develop an infrastructure related to the Internet and make Thailand ready both in basic infrastructure and laws on digital currency transactions. 

Kobsak said that the commitee will discuss working criteria and the framework of the digital transactions act, taking into accounts the advane of new technology, such as digital e-payment, blockchain, and digital currency. There will be discussions with experts on different issues to find a solution that covers everything.

The members of this working committee will include Deputy Prime Minister Somkid Jatusripitak and Wisanu Krua-ngam, who will act as advisers, as well as academics with expertise on the issue. The working process takes three to four months.