BANGKOK, 4 February 2014, The Industrial Promotion Department disclosed that Tourism, Gems & Jewelry, and Food industries had been the most affected industries by the political protest during the last three months.
Mrs.Atchaka Sibunruang, Director-General of Industrial Promotion Department said that the political demonstration in Bangkok during the last three months had already affected industrial sector, especially the SME industry related to tourism. The most affected businesses were Gems & Jewelry and One Tambon One Product (OTOP), while Food Industry came second, stemming from the decreasing number of tourists, and thus lower demand. However, an assessment on the impact was being conducted to work out ways to help these businesses.
Nonetheless, an overall perspective for the SME business is still positive, especially in tourism destination provinces such as Chiang Mai. As a way to remedy the situation, the entrepreneurs would have to adjust themselves, reduce the cost of capital and other essential expenses, including stockpiling of products to minimize risk. In addition, highly skilled labour, machinery improvement, human resources development and expansion of market channels, such as selling products via phone and online as well as expanding the market to ASEAN Economic Community (AEC) should be the strategies to focus on.
