The cabinet yesterday endorsed the draft bill for a committee charged with setting policy and guidelines for the country's digital economy scheme.
The new panel, to be chaired by the prime minister and include high-ranking officials of related agencies, will lay the foundation and provide support for the digital economy on five issues: hard infrastructure, soft infrastructure, service infrastructure, digital economy promotion, and digital society and knowledge.
Government spokesman Yongyuth Maiyalarp said responsible ministries and related agencies would need to reform themselves in order to carry out digital economy policies.
The cabinet also approved a draft bill to improve ministries and reduce duplication among state agencies.
As part of the changes, the Information and Communication Technology Ministry will become the Digital Economy and Society Ministry.
Separately, the cabinet approved a venture capital scheme worth 25 billion baht to help expand small and medium-sized enterprises.
According to Finance Minister Sommai Phasee, the scheme for supporting SMEs will come together by February.
The government will hold up to a 50% share in the venture capital, with the remaining stake for private companies to invest in other companies.
The first stage will include the formation of a professional supervisory body in the mould of the group overseeing the Government Pension Fund.
SMEs have been vulnerable this year amid political unease and a stagnant economy wracked by ballooning debt, delays in public spending, tepid exports and lukewarm tourism figures.