Thailand promotes use of locally-made products under new scheme hinh anh 1Thailand's Industry Minister Suriya Jungrungreangkit. (Photo: Nation Thailand)
Bangkok (VNA) – The Government of Thailand has launched a new scheme to promote the use of locally-made products in state projects in the hope of creating domestic economic value of 1.77 trillion baht (57.5 billion USD).

The scheme, called Made-in-Thailand, is meant to help local businesses, including small and medium-sized enterprises (SMEs), through state procurement projects.

Factory operators and workers should also benefit from the scheme, said Thailand’s Ministry of Industry.

Up to 60,000 factories have registered with the ministry and there are around 5 million workers employed in factories and SMEs, said Industry Minister Suriya Jungrungreangkit.

He expects the scheme will reduce the country's dependence on imported products. It is not a trade barrier but supports local products, he said.

Finance Minister Arkhom Termpittayapaisith said the scheme sets the proportion of local products at no less than 60 percent of the total used for state projects. If the items used are steel and iron, the proportion rises to 90 percent, he said.

Authorities expect the plan will be another tool to help Thailand cope with the impact of the COVID-19, while also improving the efficiency of local industries.

The Finance Ministry said the government allocated a budget worth 1.77 trillion baht in fiscal 2021 for state procurement projects. The ministry has asked state agencies to draft terms of reference for projects under the scheme.

Supant Mongkolsuthree, chairman of the Federation of Thai Industries (FTI), said he believes the Made-in-Thailand scheme can be another channel to help local companies and SMEs expand their product sales to the state sector./.