The Industry Ministry is preparing to spend more than 10 million baht helping small and medium-sized enterprises (SMEs) make full use of digital technology and run more eco-friendly businesses, with the ultimate aim of increasing their competitiveness.
Up to 200 SMEs will be selected to receive help from the ministry's two major development funds, said Nirada Visutthichardtada, assistant permanent secretary for industry.
One of them is the 5-million-baht digital transformation fund and the other is the sustainable productivity fund worth 5 million baht.
"These two funds will let SMEs get through the ongoing economic slowdown," said Ms Nirada.
"We want to help entrepreneurs improve their businesses as well as save costs and earn more revenue through more use of digital technology."
Half of the selected SMEs will be granted assistance through the digital transformation fund to help them adopt the right digital technologies.
Target businesses include farm produce processing, fashion and lifestyle businesses, as well as those considered crucial for economic and social development, said Ms Nirada.
Entrepreneurs in these fields need training and know-how to help them better compete in the market.
"We expect the digital transformation fund to generate more than 54 million baht in economic value to the country," said Ms Nirada.
The other half of the selected SMEs will gain help under the sustainable productivity fund, which will encourage them to apply eco-friendly concepts, including energy conservation, to their businesses, she said.
With wiser use of energy, SMEs not only reduce energy costs but also help the country cut carbon dioxide emissions under the state campaign against global warming.
The state to achieve carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050.
Ms Nirada stressed the need to help SMEs as they contribute 35% of the country's GDP.