SEC, DIP team up to help SMEs raise funds on stock market
The Securities and Exchange Commission (SEC) and the Industry Ministry’s Department of Industrial Promotion (DIP) are working together to help Small and Medium Enterprises (SMEs) register with the stock market. More than 10 SMEs are anticipated to register with the stock market every year.
Ruenvadee Suwanmongkol, SEC’s secretary-general, says that SEC signed a memorandum of understanding (MoU) with the DIP on Monday (September 30) to support their mission to increase SMEs productivity.
“The signing of this agreement will help SME businesses to access financial tools in the capital market. We will establish a taskforce to ensure they can access the support they need,” she said. “We are also considering developing tools to shorten stock market registration period from 3 years to 1 or 2 years.”
“So far the DIP has nurtured approximately 20-30 SME operators, and we expect that by 2021 approximately 10 new SMEs will have registered in the stock market,” said the secretary-general. “However, it is up to the owners of each business whether or not they want to enter the market. DIP can only offer advice and support, much like a financial advisor (FA).”
