Japan to help develop Thai SMEs

BANGKOK, September 5 (TNA) - Japan has agreed to help develop Thai small and medium-sized enterprises (SMEs) to boost their strength and revenues and to earn the Kingdom more revenues as of 2015. The agreement was signed by Thai Permanent Secretary for Industry Witoon Simachokedee and President and Chief Executive Officer (CEO) of the Organisation for Small and Medium Enterprises and Regional Innovation of Japan (SMRJ) Hirochi Takada in Bangkok on Friday. Under the agreement, both sides will share useful information and assist each other in developing their SMEs, which should help further strengthen Thai SMEs and boost national revenues by 5–10 per cent initially next year. Thailand now has about 2.7 million SMEs, equivalent to 98.5 per cent of overall Thai enterprises, with their total revenue exceeding 1.76 trillion baht annually. In Japan, SMEs command more than 99.7 per cent of the country's overall enterprises, with their total revenue exceeding 484 billion yen annually. Takada told journalists that Japan has considered Thailand its most important overseas business destination in the region and has a policy to encourage about 10,000 Japanese SMEs to invest overseas, with Thailand ranked the first country to be promoted, followed by Indonesia, Malaysia and Myanmar, all are member countries of the Association of Southeast Asian Nations (ASEAN). Takada said Japanese investors are keen to invest in the auto parts sector, followed by electrical and electronic appliances production, as well as the food processing and the service sectors. According to the SMRJ chief, 20 Thai SMEs will be invited to visit Japan early next year to, probably, agree on “business matching” with 400 Japanese investors, after 40 Thai investors have successfully agreed on such "business matching" with more than 200 Japanese investors, with a combined business value of over two billion baht, during their visits to Japan three times so far this year. The SMRJ chief insisted that Japanese investors always consider Thailand as an ASEAN business hub despite changes in the Thai administration. (TNA)