FTI Reinvent Thailand: ขับเคลื่อนเศรษฐกิจไทยยุคใหม่ เสริมแกร่ง SMEs สู้ศึกวิกฤตตะวันออกกลางFTI Reinvent Thailand: Driving Thailand's New Economy, Empowering SMEs to Compete Amid Middle Eastern Crisis

The Federation of Thai Industries (FTI), through the Small and Medium-sized Enterprises Institute (SMI), alongside five partner organizations, organized the seminar “FTI Reinvent Thailand: New Dynamics for Thailand’s Economic Future” on Friday, March 20, 2026, at the Queen Sirikit National Convention Center. The event not only emphasized the necessity of restructuring Thailand's economy to keep pace with the world but also proposed the “Reinvent Thailand” measures, aimed at assisting and promoting Thai entrepreneurs, particularly SMEs, during a time when the world faces uncertainties due to conflicts in the Middle East.

This seminar was honored by the presence of Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, and Mr. Kriangkrai Thiennukul, Chairman of the Federation of Thai Industries (FTI), who jointly presided over the opening ceremony and delivered special addresses, along with expert speakers from government and financial sectors, including representatives from the Board of Investment (BOI), the Bank of Thailand, the Government Savings Bank, Krung Thai Bank, and the Small Industry Credit Guarantee Corporation (SGB). They presented measures to support SMEs at Meeting Room 110, Level 1, Queen Sirikit National Convention Center.

Reinvent Thailand: Overcoming Crisis for Sustainable Growth

     Mr. Kriangkrai Thiennukul, Chairman of the Federation of Thai Industries (FTI), reported on the event, emphasizing the cooperation among the government, financial sector, and private sector under the Joint Private Sector Committee (J.P.C.) in driving Reinvent Thailand. “We must accelerate the restructuring of the economy from a traditional manufacturing base to an innovation-driven, technology-based, and creative (Value-Based Economy) manufacturing base. Investment in new machinery, smart factories, and skill development is vital to create competitive advantages,” he stated.

Regarding this, Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, discussed the government policies and measures, stating, “The government is well aware of the challenges faced by the private sector, particularly SMEs, whether it is related to technological changes, an aging society, or the recent impacts of unrest in the Middle East, which affect energy costs, transportation, and the volatility of global supply chains. Therefore, the Reinvent Thailand measures have been adjusted to serve as tools to support and enhance liquidity for Thai entrepreneurs to withstand and grow in the long run.”

Assistance for SMEs Affected by Middle Eastern Crisis

     Mr. Apichit Pasornprat, Chairman of the Small and Medium-sized Enterprises Institute (SMI), as the event organizer, stated that a key highlight of the seminar was the presentation of the Reinvent Thailand measures aimed at assisting businesses affected by the Middle East situation, particularly addressing liquidity issues and risks throughout the supply chain through six main measures:

Enhancing liquidity through PromptBIZ (from Krung Thai Bank): By utilizing public procurement data for credit consideration, it facilitates public sector partners' access to funding sources effectively and efficiently manage liquidity. It is intended to be expanded for use with the private sector's supply chain under the concept of ‘big brothers helping small brothers,’ where larger businesses will support their SME partners within the supply chain, along with special offers from the bank for participating businesses to access funding through the PromptBIZ system to reduce financial costs, enhance competitiveness, and drive Thailand’s economy toward sustainable growth.

The Fund for Competitiveness Enhancement (BOI): For investment in innovation to enhance productivity and competitiveness of SMEs, providing financial support for research and development, upgrading automation machinery, and transitioning to green business with a limit of up to 100 million baht per legal entity.

Credit guarantee measures: The SMEs Credit Boost Program (from the Bank of Thailand) to increase opportunities for promising businesses to access credits and the “Quick Big Win” credit guarantee program (from SGB) to enhance business liquidity and reduce risks in lending by financial institutions.

Dr. Sithikorn Direksuthon, Director and General Manager of the Small Industry Credit Guarantee Corporation (SGB), stated that in addition to the “SGB Quick Big Win” credit guarantee measure, the SGB has introduced measures to assist customers and borrowers in the tourism and import-export sectors affected by the crisis in the Middle East due to rising energy costs, which include:

1.  Customer relief measures by SGB include suspending guarantee fees and management fees for three months for SMEs whose payments are due between March 15 and April 14, 2026.

2.  Relief measures for SGB borrowers allowing them to request a three-month payment suspension (on both principal and interest) for those who are in the process of debt restructuring and are not in default, with registration required between March 15 and April 14, 2026.

The target groups include six priority industrial sectors (Priority Sectors), as well as the supply chain, which are fundamental and greatly impact the driving force of Thailand’s economy, including: 1) Agri & Food Processing: focusing on value addition and safety standards; 2) Automotive: a manufacturing base for automotive with advancements towards electric vehicle parts production; 3) Medical & Wellness: developing the pharmaceutical and medical products industry to international standards while promoting health; 4) Smart Electronics: elevating to industries focused on design and advanced technology innovation; 5) Tourism: developing and enhancing sustainable quality tourism; and 6) Retail & Trading: enhancing trade, product distribution, and linking domestic and international markets, including supply chain and logistics.

Statistics from the Department of Business Development (DBD), the Office of Small and Medium Enterprises Promotion (OSMEP), and the Ministry of Commerce highlight the critical importance of these six sectors, covering 268,004 SMEs, creating over 10.59 million jobs, and generating a total income of 39.2 trillion baht, which represents a significant portion of Thailand’s economic structure (47% of SMEs, 55% of employment, and 64% of total income).

The Federation of Thai Industries (FTI) believes that collaboration under Reinvent Thailand and these supportive measures will be a crucial turning point in helping Thai entrepreneurs overcome challenges from global situations and turn crises into opportunities for sustainable growth.

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Published by the Corporate Communications Department, Federation of Thai Industries (Tel. 0-2345-1051)