BoT: Improvements of SMEs a must before 2015 AEC

Published on March 16, 2012 by TFP   ·   No Comments

BANGKOK, 16 March 2012 -The Bank of Thailand (BoT) has advised SME company owners to increase the skills of their workers and product quality so that they can find market segments beyond Thailand when the ASEAN Economic Community (AEC) takes effect in 2015.

BoT President Mr. Prasarn Trairatworakul said since SME businesses play an important role in the expansion of Thai economy, it is essential for SME owners to be prepared for greater chance of market expansion and taking advantage of lower production cost and for fiercer trade competitions.

Mr. Prasarn encouraged business owners to invest in new technology, improve the quality of their products as well as skilled workers.

They should also diversify distribution markets and loan sources. He recommended them to insure their financial assets against the fluctuation of currencies. The President said, however, SME businesses are still at risk this year because of the new wage hike and rising fuel prices.



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