The Cabinet met on Tuesday, July 5, 2016 at Command Building I, Government House. Some of the resolutions are as follows;
Title: Assistance measure for Start-up and Innovation through Thai Credit Guarantee Corporation (TCG)’s Credit Guarantee Scheme for Start-up & Innovation
The Cabinet agreed on proposals made by Ministry of Finance on Assistance measure for Start-up and Innovation through Thai Credit Guarantee Corporation (TCG)’s Credit Guarantee Scheme for Start-up & Innovation.
Ministry of Finance reported on criteria and conditions of Credit Guarantee Scheme for Start-up & Innovation as follows:
Lists/Gist
Objectives
- To enable potential SMEs entrepreneurs, i.e., Start–up SMEs, and Innovation & Technology SMEs, to get easier access to financial resources
- To increase productivity and added value, enhance SMEs’ competitiveness, and strengthen domestic industries for the growth of SMEs and GDP.
- To integrate and link government and private sector networks with regard to providing assistance to Innovation Technology SMEs in a more concrete manner.
Credit limit
- 10,000 million baht
Type of Credit Guarantee
- Package Guarantee Scheme
Guarantee Period
- not exceeding 10 years
Credit limit for each SMEs applicant
- Individual SMEs
- Start–up SMEs: Not exceeding 1 million baht per each SMEs applicant
- Innovation Technology SMEs: Not exceeding 1 million baht per each SMEs applicant
Corporate SMEs
- Start–up SMEs: Not exceeding 5 million baht per each SMEs applicant
- Innovation Technology SMEs: Not exceeding 20 million baht per each SMEs applicant
All of which are based on Thai Credit Guarantee Corporation's rules and regulations
Fees
- 1-2% per year of the lending amount, based on credit risks. The government will subsidize first year’s guarantee fee.
Application period
- No later than December 31, 2018
Qualifications of SMEs
1. SMEs with a combined asset value (excluding land) of no more than 200 million baht
2. Individual or corporate SMEs with Thai nationality
3. Lawful SMEs that are not against ethical standards
4. New SMEs applicant who will not use the loan to pay for their outstanding debts
5. SMEs with regular account according to Bank of Thailand's criteria
6. In case of Start-ups
6.1 SMEs that have been established for less than 3 years, based on corporate or trade registration or any other official document agreed upon by TCG
6.2 SMEs that have been trained or under the process of applying for the trainings or business management courses with Department of Industry Promotion or other concerned agencies agreed upon by Thai Credit Guarantee Corporation
7. In case of Innovation Technology SMEs
7.1 Businesses with innovation or differentiation in products/services/procedures, approved and guaranteed by the banks
7.2 Innovative and technology businesses of which qualifications have been approved by National Science and Technology Development Agency (NSTDA), National Innovative Agency (NIA), Thailand Institute of Scientific and Technological Research, Software Industry Promotion Agency (Public Organization). or other agencies agreed upon by Thai Credit Guarantee Corporation.
Government support
- TCG is to request for subsidy for compensation insurance and first year’s guarantee fee from the government for a total of 1,700 million baht.
Expected economic outcomes
- Around 5,000 potential SMEs entrepreneurs will gain access to financial resources
- Generate 10,000 million baht worth of loans in the financial system
The Cabinet agreed on proposals made by Ministry of Foreign Affairs as follows:
1. Agreed on two draft outcomes of the 11th Asia-Europe Meeting (ASEM 11): Chair’s Statement and Ulaanbaatar Declaration. Should there be any amendment, if not affecting gist of the documents or the benefits of Thailand, Ministry of Foreign Affairs is authorized to proceed without any further approval from the cabinet.
2. Prime Minister or his representative is assigned to endorse the aforementioned documents.
Ministry of Foreign Affairs reported that
1. Prime Minister is scheduled to attend ASEM 11 during July 15-16, 2016 in Ulaanbaatar, Mongolia. At the meeting, two draft outcome documents, that is, Chair's Statement and Ulaanbaatar Declaration, are to be endorsed.
2. Chair's Statement reflects commitments of ASEM member states on promoting cooperation between Asia and Europe in the areas of mutual interests, e.g., sustainable development, climate change, disaster management, global economic situation, trade and investment expansion, science, technology, and linkage-promotion innovation. The Statement also highlights United Nations' role, and cooperation in tackling regional and international issues, such as maritime security, terrorism, and irregular migration.
3. Ulaanbaatar Declaration underscores 20 years of ASEM meetings, achievements and success, such as being important platform for Asian and European countries to promote broader mutual understanding, developing collaboration and exchange in various areas, as well as specifying ASEM's vision in the Third Decade:
1) Strengthen partnership,
2) Promote concrete collaborations,
3) Promote connectivity, and
4) Improve ASEM working process.
4. Approval of the outcomes of ASEM 11 will reflect commitment and readiness of Thailand to support implementations under ASEM’s framework, as well as to tighten relations among ASEM member states, and affirm joint standpoints on various issues.
5. Chair's Statement and Ulaanbaatar Declaration cover various issues that Thailand has placed importance on, and will benefit a number of aspects on Thailand’s economic and social development, e.g., sustainable development, promotion of connectivity in various dimensions, and strengthening of collaborations in education and science.
The Cabinet agreed on the proposals made by Ministry of Natural Resources and Environment as follows:
1. Agreed upon Thailand's position on the following agendas:
1.1. Agenda 40 COM 7B.90: Dong Phayayen-Khao Yai Forest Complex State of Conservation Reports: head and deputy head of Thai delegation is authorized to explain and convince the World Heritage Committee of 21countries, advisory body, and World Heritage Center not to list Dong Phayayen-Khao Yai Forest Complex as World Heritage in Danger.
1.2. Agenda 40COM 8B.11: Nomination of Kaeng Krachan Forest Complex to the World Heritage List: head and deputy head of Thai delegation is authorized to explain and convince the World Heritage Committee of 21countries, advisory body, and World Heritage Center on situation and lifestyle of Karen communities in Kaeng Krachan Forest Complex, and request for support on the amendment of draft resolution, which will affect Thailand's operations in the future.
1.3. Agenda 40COM 8B.23: Nomination of Phu Phra Bat Historical Park, Udonthani to the World Heritage List: To withdraw the nomination of Phu Phra Bat Historical Park, Udonthani to the World Heritage List from the Agenda 40COM 8B.23.
The Cabinet approved composition of the Thai delegation attending the 40th session of the World Heritage Committee. Minister of Natural Resources and Environment is assigned as head of delegation and the Ambassador of Thailand to Paris as deputy head. Concerned agencies consist of Ministry of Education, Ministry of Culture, and Ministry of Natural Resources and Environment. Representative of Ministry of Natural Resources and Environment is assigned as secretary.
The Cabinet approved the proposals made by Ministry of Culture on the appointment of Mr. Arun Boonchom, Deputy Chair of the Central Islamic Council of Thailand as Amirul Hajj or Ra-Is Bisatulhaj Ar-Rasamiyah (leader of Hajj representatives of Thailand) for 2016 (AH 1437).
--Cabinet Meeting (Prayut Chan-o-cha) July 05, 2016 --