Thailand promotes use of locally-made products under new scheme
The Government of Thailand has launched a new scheme to promote the use of locally-made products in state projects in the hope of creating domestic economic value of 1.77 trillion baht (57.5 billion USD).
Thailand's Industry Minister Suriya Jungrungreangkit. (Photo: Nation Thailand)
Bangkok (VNA) – The Government of Thailand haslaunched a new scheme to promote the use of locally-made products in stateprojects in the hope of creating domestic economic value of 1.77 trillion baht(57.5 billion USD).
The scheme, called Made-in-Thailand, is meant to helplocal businesses, including small and medium-sized enterprises (SMEs), throughstate procurement projects.
Factory operators and workers should also benefit fromthe scheme, said Thailand’s Ministry of Industry.
Up to 60,000 factories have registered with the ministryand there are around 5 million workers employed in factories and SMEs, saidIndustry Minister Suriya Jungrungreangkit.
He expects the scheme will reduce the country'sdependence on imported products. It is not a trade barrier but supports localproducts, he said.
Finance Minister Arkhom Termpittayapaisith said the schemesets the proportion of local products at no less than 60 percent of the totalused for state projects. If the items used are steel and iron, the proportionrises to 90 percent, he said.
Authorities expect the plan will be another tool to helpThailand cope with the impact of the COVID-19, while also improving the efficiencyof local industries.
The Finance Ministry said the government allocated abudget worth 1.77 trillion baht in fiscal 2021 for state procurement projects.The ministry has asked state agencies to draft terms of reference for projectsunder the scheme.
Supant Mongkolsuthree, chairman of the Federation of ThaiIndustries (FTI), said he believes the Made-in-Thailand scheme can be anotherchannel to help local companies and SMEs expand their product sales to thestate sector./.
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Thailand's Industry Minister Suriya Jungrungreangkit. (Photo: Nation Thailand)
