Thai business joins hands with credit guarantee corp to boost SMEs’ sustainability, competitiveness

The network for small and medium enterprises is the fruit of a partnership between the Thai Chamber of Commerce (TCC) and Thai Credit Guarantee Corporation (TCG) under a memo of understanding (MoU) signed on Wednesday.

The new initiative is designed to boost sustainability of SMEs to drive Thailand’s economic growth.

TCC chairman Sanan Angubolkul said the network partnership marked the 90th anniversary of the Thai Chamber of Commerce.

The network is being launched with the slogan “Connect-Competitive-Sustainable”.

Under “Connect”, the TCC aims to double the number of its SME members from 100,000 to 200,000 in the next two years to increase their strength.

The “Competitive” plan will implement a programme to enhance SMEs capacity for competitiveness this year, Sanan added. The programme will help SMEs access funds and find new markets while also increasing productivity, he said.

The “Sustainable” component will focus on helping SMEs adjust or adapt their businesses to become environment-friendly. SMEs will be encouraged to adopt environment, social & governance (ESG) and bio, circular and green (BCG) business models, which are becoming standard for businesses around the world.

Sanan also encouraged SMEs to apply for associate membership of the TCC and Board of Trade to spur their business strength and sustainability.

He said member SMEs would also be listed in the TCC’s supply chain database for greater integration and contribution to the Thai economy.

TCG chief Sittikorn Direksoonthorn said the MoU marked the first cooperation between the two agencies.

He said TCG’s clients could apply for associate membership with the TCC to take advantage of its benefits.