Prime Minister Prayut Chan-o-cha has unveiled a new strategy to build “a people’s state” to bring together the state, the people and businesses for the long-term sustainable development of the country.
The prime minister said the Pracha Rat (people’s state) strategy aims to strengthen the country’s economy at the grassroots level and empower local communities and local enterprises. The strategy is is in line with the government’s recently-approved 136-billion-baht stimulus package to boost the economy.
The government has also introduced a second stimulus measure to help small and medium-sized enterprises (SMEs) gain access to loans. The measure includes 100 billion baht in soft loans, a 100-billion-baht credit guarantee to encourage banks to lend to SMEs, a 10% tax rate for two years, a five-year corporate income tax exemption for SME start-ups and 6 billion in venture capital to be contributed by state-backed banks.
Read the full article on the Bangkok Post here.