Thailand's government is stepping up its efforts to stimulate the economy through various initiatives aimed at enhancing financial support for small businesses and improving agricultural standards. On February 27, 2025, Deputy Prime Minister and Minister of Finance Phichai Chunhavajira announced new measures intended to inject liquidity back to the economy. By offering loans of between 10,000 and 20,000 baht to small traders who have not previously accessed such financing, the government aims to assist approximately 300,000 accounts and weave tighter support for local entrepreneurs.
During discussions with representatives from the Government Savings Bank, Chunhavajira emphasized the need to tackle the reluctance of financial institutions to lend to smaller businesses. “The best way to inject money back is through providing loans, and we need to select viable small businesses,” he stated, indicating the government’s commitment to fostering growth at the grassroots level.
Another important initiative involves working with the Thai Bankers’ Association to encourage commercial banks to expand credit offerings. By reducing contributions to the Financial Institutions Development Fund (FIDF) from 0.46% to 0.23%, the government is providing banks with more room to improve their lending to small and medium enterprises. “Based on my observations, there’s been hesitance to lend to smaller businesses, even when they can potentially contribute to the overall economy,” Chunhavajira noted, underscoring the existing imbalance currently favoring large corporations.
To complement these financial measures, the government is also focusing on enhancing agricultural practices. On the same day, the National Bureau of Agricultural Commodity and Food Standards (NBACS) conducted hands-on workshops to train fish farmers on the Good Aquaculture Practices (GAP). The training targeted officials and academics from the Department of Fisheries as well as members of the Royal Project Foundation, which promotes sustainable agricultural practices.
According to officials, this workshop is part of broader efforts to help fish farming operations comply with quality standards for safe and sustainable produce. “We must remain coordinated to prevent corruption and improve standards across the board,” remarked one participant, highlighting the importance of collaboration between various governmental and private sectors.
Continuing the momentum, on the very next day, Prime Minister Srettha Thavisin visited Aranyaprathet district, where he focused attention on anti-crime operations targeting online scams, especially the notorious call center scams. The operation aims to dismantle the infrastructure supporting such criminal activities, which have plagued many Thai citizens.
During his visit, Thavisin noted, “This issue has escalated to be one of the major problems we face. Thank you to law enforcement agencies for their diligent work.” He also expressed the government’s commitment to support areas affected by such crimes and collaborating with local authorities for more effective responses. Reports indicated several sites had been raided, yielding arrests and the dismantling of operating centers facilitating these scams.
These parallel governmental initiatives reflect Thailand's proactive stance toward addressing both economic and social challenges. The focus not only shows financial support through loans but also aims at uplifting standards within the agriculture sector and combating crimes which undermine the trust and economic stability of the community.
The recent strides made demonstrate the Thai government’s response to pressing economic issues, striving to instill positive change through integrated efforts across multiple sectors. This multifaceted approach is gearing up to create not only immediate economic relief but also long-term improvements within local economies and communities.
With these initiatives rolling out, and more holds promised from both financial institutions and agricultural bodies, stakeholders across Thailand are now eagerly watching how these efforts will reshape the economic canvas of the nation moving forward.