Government to help small exporters hurt by baht appreciation
The government has earmarked Bt1.5 billion to help small businesses adversely affected by the baht’s appreciation and to support upgrades to their production facilities.
Deputy Prime Minister Somkid Jatusripitak chaired a meeting on Monday of a committee charged with promoting small and medium-sized enterprises to discuss further supportive measures.
Industry Minister Uttama Savanayana said the committee agreed to allocate Bt1 billion in soft loans to SMEs and tech start-ups seeking to upgrade production capacity.
Owners of businesses affected by the rising baht would be coached in hedging against currency volatility and receive “discount coupons” worth Bt30,000 each, Uttama said.
The government plans to spend about Bt500 million to address the currency shift’s impact.
The Bank of Thailand, Thai Bankers Association and SME Development Bank will organise training courses for SMEs.
The baht has strengthened by 7-8 per cent against US dollar since early this year, sparking concern among exporters whose product prices will no longer by competitive internationally.
