thailandedition
Cabinet OKs 260M Baht for Commerce to Cut Costs & Boost Online Sales

Cabinet OKs 260M Baht for Commerce to Cut Costs & Boost Online Sales

Thansettakij•Economy•2d ago

Reader Briefing

The Thai Cabinet has greenlit a 260.60 million baht budget for the Ministry of Commerce to implement measures aimed at reducing the cost of living and promoting online sales for SMEs.

  • •The Thai Cabinet has approved a 260.60 million baht budget for the Ministry of Commerce.
  • •The budget will fund three main projects to alleviate the cost of living for the public.
  • •Key initiatives include reducing prices on consumer goods, supporting SME online sales, and distributing affordable goods through various channels.
  • •A 'Half-Price Fertilizer' project and support for the 'Thong Fah' mobile market are also part of the plan.
  • •Measures address the impact of global shipping issues on fertilizer prices.

Overview

  • •The Cabinet approved a budget of 260.60 million baht for the Ministry of Commerce to implement cost-of-living reduction measures.
  • •The Ministry of Commerce announced the budget allocation through three main projects designed to alleviate public living costs.
  • •The 'Thai Chuea Thai' project will offer up to 58% discounts on 3,000 types of consumer goods.
  • •The Ministry of Commerce will allocate budget for online sales promotion, waiving fees for businesses on platforms like TikTok and Shopee and covering shipping costs.
  • •Up to 2,000 SMEs are targeted for registration to receive online sales support, with an aim to develop over 10,000 SMEs.
  • •The 'Thong Fah' project will operate over 518 points nationwide, offering affordable goods, including school supplies in 1,000 schools.
  • •The 'Half-Price Fertilizer' project, in collaboration with BAAC and the Ministry of Agriculture, aims to reduce fertilizer costs for farmers.
  • •International shipping disruptions in early year (January-March) in the Strait of Hormuz and Red Sea led to delays in urea fertilizer imports, necessitating government intervention to ensure supply through April and May.

Full article content is available on the original source.

Read on Thansettakij (Thai Version)View in Google Translate

Source: Thansettakij (Original)

Key Entities

Organization

Cabinet(ครม.)ℹ️
The government body that approved the new budget and measures.
Ministry of Commerce(กระทรวงพาณิชย์)ℹ️
The ministry that will implement the 260.60 million baht budget to reduce living costs and support online sales.
SMEℹ️
Small and Medium Enterprises that will benefit from support for online sales, including fee waivers and shipping cost coverage.
TikTok(ติ๊กต๊อก)ℹ️
An online platform where the Ministry of Commerce will support SMEs in selling their products without charging fees.
Shopee(ช้อปปี้)ℹ️
An online platform where the Ministry of Commerce will support SMEs in selling their products without charging fees.
Ministry of Education(กระทรวงศึกษาธิการ)ℹ️
A ministry collaborating with the Ministry of Commerce to sell educational supplies and student uniforms at affordable prices in schools.
BAAC(ธ.ก.ส.)ℹ️
The Bank for Agriculture and Agricultural Cooperatives, which acts as the originating point for low-interest loans for the 'Half-Price Fertilizer' project.
Ministry of Agriculture(กระทรวงเกษตรฯ)ℹ️
The ministry overseeing soil quality and fertilizer application for the 'Half-Price Fertilizer' project.
Department of Agriculture(กรมวิชาการเกษตร)
A department under the Ministry of Agriculture responsible for assessing soil and recommending appropriate fertilizer formulas for the 'Half-Price Fertilizer' project.
Land Development Department(กรมพัฒนาที่ดิน)
A department under the Ministry of Agriculture responsible for soil assessment and recommending appropriate fertilizer formulas for the 'Half-Price Fertilizer' project.

Person

Supachai Suthumpan(นางศุภจี สุธรรมพันธุ์)
Deputy Prime Minister and Minister of Commerce who announced the Cabinet's approval of the budget.

Timeline

January-March(มกราคม-มีนาคม)
The period earlier in the year when global shipping issues affected fertilizer supply.
April(เมษายน)
A month for which fertilizer supply has been confirmed to be available.
May(พฤษภาคม)
A month for which fertilizer supply has been confirmed to be available.