TY - JOUR
T1 - Small and medium-sized enterprises in Thailand
T2 - government policy and economic development
AU - Turner, Mark
AU - Sermcheep, Sineenat
AU - Anantasirijkiat, Seksan
AU - Srisangnam, Piti
N1 - Funding Information:
The investment promotion was under the supervision of the Board of Investment (BOI). For example, in 2006, 582 SME investment projects were approved by the BOI with the value of Bht30,139 million. Financial assistance was provided by the SME Development Bank (founded in 2002), other specialised financial institutes, and state banks such as Krung Thai Bank and Siam City Bank. They provided loans to SMEs (Bht52 billion in 2002 and Bht27 billion in 2003). Two criticisms concerned the effectiveness of the SME financial support programme and the timing of programme approval. The state banks were forced to provide cheap and easy credit to many SMEs without careful review. This resulted in a rise in non-performing loans (NPLs) to 43% in 2006 (Punyasavatsut, ). For technical and management and consultancy, the new entrepreneur creation (NEC) programme was initiated under the Ministry of Industry in 2002 to encourage people to create their own businesses.
Publisher Copyright:
© 2016 The University of Hong Kong.
PY - 2016
Y1 - 2016
N2 - This article examines the role of the Thai government in economic development through the promotion of small and medium-sized enterprises (SMEs). It explores the interaction between the government and the private sector, with the challenges facing SMEs and the effectiveness of the SME promotion policy being considered in terms of implications for future policy. The government has played an important role in supporting the development of SMEs as a means of achieving sustained and healthy economic growth. A committed SME promotion policy from the government and closer cooperation between the state and the private sector are needed for the further development of SMEs. The integration of the government agencies related to SME promotion should be enhanced in order to have a whole-of-government approach. More focus on the quality of SMEs is necessary for their sustained development.
AB - This article examines the role of the Thai government in economic development through the promotion of small and medium-sized enterprises (SMEs). It explores the interaction between the government and the private sector, with the challenges facing SMEs and the effectiveness of the SME promotion policy being considered in terms of implications for future policy. The government has played an important role in supporting the development of SMEs as a means of achieving sustained and healthy economic growth. A committed SME promotion policy from the government and closer cooperation between the state and the private sector are needed for the further development of SMEs. The integration of the government agencies related to SME promotion should be enhanced in order to have a whole-of-government approach. More focus on the quality of SMEs is necessary for their sustained development.
KW - economic development
KW - government and economy
KW - government policy
KW - small and medium-sized enterprises
KW - Thailand
UR - https://www.scopus.com/pages/publications/85070302977
U2 - 10.1080/23276665.2016.1256545
DO - 10.1080/23276665.2016.1256545
M3 - Article
AN - SCOPUS:85070302977
SN - 2327-6665
VL - 38
SP - 251
EP - 269
JO - Asia Pacific Journal of Public Administration
JF - Asia Pacific Journal of Public Administration
IS - 4
ER -
SDG 8 Decent Work and Economic Growth