CHIANG RAI, Thailand – The Department of Business Development is spotlighting emerging business opportunities in Chiang Rai Province while offering crucial guidance on business collateral laws to local entrepreneurs.
Mrs. Oramon Sapthaweetham, Director-General of the Department of Business Development, emphasizes Chiang Rai’s potential as a cultural hub, highlighting its historic temples and antique architecture.
She added that the province is also rich in history and creativity, which has led to success in spiritual and superstitious marketing. Local entrepreneurs are encouraged to tap into this trend to add value to their products and services.
Spiritual items, such as Buddha statues and amulets, are particularly appealing to high-spending customers. These products are expected to boost income for entrepreneurs and SMEs while showcasing the distinctiveness of Thai culture. Additionally, this trend is likely to drive economic growth and promote tourism.
During the visit, the department, in collaboration with the Bank for Agriculture and Agricultural Cooperatives (BAAC), launched an initiative program to instruct local entrepreneurs about business collateral laws and the use of perennial trees as collateral for loans.
This innovative approach is designed to create a more flexible financial system, enabling businesses and farmers to leverage their existing assets for expansion. It also supports environmental sustainability and conservation efforts, aligning economic growth with ecological responsibility. (NNT)
