Thailand's Commerce Ministry is collaborating with the private sector to launch a price reduction campaign for goods and services three months before the much-anticipated digital wallet scheme begins.
Minister Phumtham Wechayachai, also deputy prime minister, on Saturday led a discussion with at least 150 private operators in response to the move, a form of economic stimulus, as ordered by Prime Minister Srettha Thavisin.
He said the premier has instructed the ministry to work with all sectors to help small and medium enterprises (SMEs) alleviate the burden of expenses and reduce the cost of living for three months, from Aug 20 to Nov 20, 2024, before the 10,000 baht digital wallet scheme kicks off in December.
The first measure is to work with companies to reduce rental fees for small shops and market stalls, help them promote their businesses online and reduce shipping costs with help from Thailand Post.
Next, the availability of sales spaces will be increased by launching new shopping areas in every province.
Third, he said, is to work with large manufacturers and wholesalers to reduce living costs through nationwide discount campaigns.
He added the ministry will organise regular seasonal promotions, such as the "9.9" and "10.10" September and October campaigns, as well as the Vegetarian Festival in October and New Year.
The prime minister will announce the kick-off for this raft of measures during the mobile cabinet meeting on Aug 20 at Rajamangala University of Technology Suvarnabhumi in Ayutthaya, said Mr Phumtham.
The Ministry of Commerce is confident these measures will help prop up the country's economy before the major economic stimulus project being administered via digital wallets is launched nationwide, said Mr Phumtham.
He also gave examples of 150 major private operators which have already committed to supporting the new campaign.
They include the Thai Chamber of Commerce, the Federation of Thai Industries, the Thai Retailers Association, the Thai Wholesalers and Retailers Association, and the Thai Bagged Rice Association.
Others are the Processed Food Manufacturers Association, the Thai Beverage Industry Association, Charoen Pokphand Group, Thai Beverage Group, Central Group, Unilever Thai Trading Co and Saha Pathanapibul Plc.