Recovery project targets small firms
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Recovery project targets small firms

Heavy discounts offered in effort

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Shoppers stroll around Bangkok's Sampheng Market during the rainy season. The Commerce Ministry is working with several state agencies to offer assistance to small entrepreneurs. (Photo: Nutthawat Wichieanbut)
Shoppers stroll around Bangkok's Sampheng Market during the rainy season. The Commerce Ministry is working with several state agencies to offer assistance to small entrepreneurs. (Photo: Nutthawat Wichieanbut)

The Commerce Ministry is working with government agencies to launch a nationwide economic recovery project over five months to assist small businesses, ease expenses and reduce the cost of living.

Commerce Minister Pichai Naripthaphan held discussions with more than 150 representatives of private sector organisations before they jointly launched the economic recovery project.

The discussions sought the cooperation of the public and private sectors, including the Defence Ministry, Interior Ministry, Digital Economy and Society Ministry, Public Health Ministry, Thai Chamber of Commerce, the Federation of Thai Industries, Thai Retailers Association, wholesale and retail department stores and gas stations.

They plan to support provincial commerce office activities, such as finding businesses to participate, securing venues, and coordinating with local manufacturers to offer discounted products.

Mr Pichai said Prime Minister Paetongtarn Shinawatra is chairing the inauguration of the economic recovery project at Government House today.

He said the government is committed to moving forward with this project from September 2024 to January 2025, aiming to generate income, reduce expenses, and create opportunities focused on helping small businesses.

This includes reducing shop and market stall rental fees and organising "Commerce Markets" across 76 provinces in both government and private sector areas.

Mr Pichai said the Commerce Ministry plans to work with large manufacturers and wholesalers to encourage big players to support small businesses by reducing costs for them, while also cutting the prices of essential consumer goods through campaigns and seasonal promotions.

Major producers, businesses and retail chains indicated they are prepared to cooperate with the ministry by lowering the prices of essential goods, supporting the sale of low-cost products to the public, and reducing rental fees for small enterprises.

Ms Paetongtarn is scheduled to hold a live broadcast addressing entrepreneurs and rehabilitation activities in five provinces: Khon Kaen, Lop Buri, Udon Thani, Phuket and Chiang Rai.

Building on the government's flagship 10,000-baht cash handout scheme, the project is expected to stimulate the economy, accelerating the recovery, said Mr Pichai.

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