Panel says export boom not reaching small companies

A truck arrives as another departs from Laem Chabang deep-sea port in Chon Buri province. The JSCCIB projects exports to grow 8-10% this year. (Photo: Nutthawat Wichieanbut)

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is exploring new measures to support small and medium-sized enterprises (SMEs) that have yet to fully benefit from Thailand's robust export growth and rising foreign direct investment.Payong Srivanich, chairman of the Thai Bankers Association and chair of Wednesday's JSCCIB meeting, said while exports and investment are expanding, they have not translated into stronger employment or higher production in traditional industries.

"Capacity utilisation remains low, reflecting limited momentum in the real economy," he said.

In May, capacity utilisation was only 59.6%, according to the Office of Industrial Economics.

Many SMEs outside the formal system are also missing out on the benefits of economic growth.