New FTI President Pimjai Meets with PM, Proposes 6 Economic Development Guidelines and Revival of Industry Board
Newly elected FTI President Pimjai Leeissaranukul met with Prime Minister Anutin to propose six economic development guidelines, including government procurement of Thai-made products and enhanced SME funding access to boost Thailand's econ
Pimjai Leeissaranukul, president of the Federation of Thai Industries (FTI), led the organization's executive team in a meeting with Prime Minister Anutin Charnvirakul and Interior Minister at Government House to discuss economic and industrial development strategies.
The FTI currently has over 16,000 members covering 48 industrial groups and 76 provincial industrial chambers nationwide, with approximately 90% being SME entrepreneurs. These businesses represent a crucial economic mechanism for Thailand, accounting for over 30% of the country's GDP, or approximately 5.7 trillion baht.
The FTI is advancing its organizational mission under the vision "The New Chapter of Thai Industry: Empowering Growth with 5-I" to enhance Thai industry's competitiveness and prepare for the new global economy through five key strategies:
1. Intelligent Industry (I1) - Driving smart industry through digital and AI technology 2. Innovation & Creative Industry (I2) - Promoting innovation and creative industries for value addition 3. International Alliance & Network (I3) - Expanding international business cooperation and networks 4. Industrial Infrastructure Reform (I4) - Upgrading industrial infrastructure for competition 5. Inclusive & Sustainable Growth (I5) - Promoting balanced, inclusive, and sustainable growth
Six Economic Development Guidelines Proposed; Revival of Industry Board Cooperation
During the meeting, six key guidelines were proposed to accelerate Thailand's economic growth:
Promoting Made in Thailand Using State Budget for Economic Stimulus
Kanistha Mueangkrajang, FTI Vice President, proposed that the public sector use government procurement as an important mechanism to stimulate Thailand's economy by promoting Made in Thailand (MiT) products. The proposal suggests allocating at least 40% of the 200,000 billion baht budget target for MiT procurement by 2027 to direct government funds into Thai manufacturing, distribute income to SMEs, and maintain domestic employment.
The initiative also proposes establishing a "Joint Task Force between FTI and the Ministry of Industry" to link government procurement with private sector production capacity (Demand-Supply Matching), elevate MiT standards and modernization, and expand the MiT product database, particularly in construction materials, machinery, and electrical equipment sectors to support future government investment projects.
Launching "FTI SME Funding Connect" to Help SMEs Navigate Capital Access
Veerachai Mansindhore, FTI Vice President, proposed establishing "FTI SME Funding Connect," which would serve as a hub connecting SMEs with appropriate funding sources including credit, credit guarantees, contribution funds, co-investment funds, and government support programs.
The initiative also promotes SME credit system reform to systematically address capital access problems and help Thai SMEs recover and compete long-term.
Proposing SME Credit System Reform Through Seven Measures
A comprehensive "SME Credit System Reform" was proposed through seven key measures:
– Establish an "SME Credit War Room" using a real-time dashboard to monitor credit disbursement – Require banks to explain credit rejection reasons to SMEs within 15 days – Upgrade the Small Industry Credit Guarantee Corporation (SICGC) to an enhanced credit guarantee system
