SME Committee: Joint Foreign Chambers of Commerce

SME Committee: Joint Foreign Chambers of Commerce

Our CEO, Diego Sala, participated as a voting member of the SME Committee of the Joint Foreign Chambers of Commerce in Thailand (JFCCT), representing the Thai-Russian Chamber of Commerce. The first annual SME Committee meeting was held on January 10, 2025, at Ping’s Thai Teochew Seafood Restaurant in Pathum Wan, Bangkok.

The meeting brought together members from various chambers, including Malaysia, Singapore, Finland, Russia, Switzerland, Norway, Belgium, and Spain, to discuss current and relevant issues affecting SMEs. Key topics included:

1. New ESG Regulations: Driven by Western countries (Europe/USA), these regulations pose challenges for Thai SMEs involved in the supply chains of these nations. The committee discussed support measures for these businesses, which are recognized by Thai authorities but not yet adequately promoted.
2. Compliance Issues for Foreign Companies: The discussion highlighted difficulties due to stringent restrictions on foreign investors, especially concerning shareholding and the complexities of obtaining visas and work permits. The challenges are compounded by the presence of informal communities operating outside regulatory frameworks, creating unfair competition for compliant businesses.
3. Access to Information for Foreign Investors: The committee emphasized the recurring problem of insufficient information for foreign investors during the planning phase, often due to a lack of coordination among authorities and poor quality of online resources.

The SME Committee deliberated on strategies and actions to address these and other issues, which will be further developed in future meetings.

The Strategic Role of SMEs

The SME Committee operates under the premise that small and medium enterprises (SMEs) play a crucial and strategic role in Thailand’s economy, potentially being the largest single group driving economic development. While it is challenging to address all issues affecting SMEs, the committee aims to support and promote policies that create a favorable environment for SMEs and foster entrepreneurship to help businesses thrive.

Mission and Objectives of the SME Committee

To support the development of SMEs in Thailand, the committee focuses on the following objectives:

1. Policy Recommendations: Consult, review, and formulate policy recommendations for improving laws and regulations affecting SMEs.
2. Identifying Issues: Evaluate and investigate SME challenges to pinpoint areas for improvement.
3. Collaboration: Coordinate joint efforts with chambers and organizations to share knowledge, experiences, and resources, including lessons learned.
4. Addressing Challenges: Develop policy recommendations to tackle issues faced by SMEs, such as access to financing and other problems.
5. Consultative Meetings: Hold joint consultative meetings with relevant agencies on SME issues.
6. Capacity Development: Support capacity-building and promotion programs for SMEs.
7. Training and Workshops: Consider joint training courses, workshops, seminars, and conferences, collaborating with regional and international networks to bring external perspectives and best practices.