Industry Ministry suspends SME loan payments, prepares full-scale recovery plan once floodwaters recede

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The Ministry is preparing a full-scale recovery plan once the floodwaters recede.

BANGKOK, Thailand – Ekanat Promphan, Minister of Industry, on September 13 has announced emergency measures to address the severe flooding in northern Thailand, which has significantly impacted both households and industrial factories. As of September 11, 2024, flooding has affected 14 provinces, with 61 industrial establishments damaged, totaling over 42.1 million baht in losses. Additionally, more than 505 SMEs have been directly or indirectly impacted.

The Ministry of Industry has instructed all related departments to provide urgent assistance. Nattapol Rangsitphon, Permanent Secretary of the Ministry, has tasked provincial industry offices in the affected areas to assess the damage and distribute survival kits in collaboration with public and private sector partners through the “United Industry for Thai People” campaign.



Furthermore, the Ministry is preparing a full-scale recovery plan once the floodwaters recede. The plan includes:

  1. Sending engineers and technicians to restore machinery and electrical systems.
  2. Dispatching officers to assess business challenges and offer recovery advice via DIPROM Business Service Centers (BSC).
  3. Providing consultations to restore production processes and safety standards through DIPROM Centers across regional areas.
  4. Suspending loan repayments for three months for SMEs under the SME Development Fund.

Minister Ekanat emphasized that after the floodwaters subside, he and the ministry’s management team will visit the affected areas to assist both businesses and residents. He expressed his support for those impacted by the floods and pledged that the Ministry of Industry would stand by the people as they navigate this challenging time. (TNA)