The Thai Social Enterprise Office (TSEO) plans to create a 1-billion-baht fund to mobilise money from the public to finance operations of social entrepreneurs.
The fund offering will have to be approved by the Finance Ministry and stock exchange regulators, TSEO director Nuttaphong Jaruwannaphong said on the sidelines of a seminar entitled "Developing a Better Policy Context for Social Enterprises in Asia and Europ", hosted by the Asia-Europe Foundation and the British Council in Berlin.
The TSEO is an indepedent body set up in 2011. A social enterprise is a for-profit or non-profit organisation that applies commercial strategies to generate profits in addressing social problems rather than maximising profits to shareholders. Thailand is in a fledgling stage of social enterprise development, with 70 companies registered with the TSEO.
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