The Office of Small and Medium Enterprise Promotion (OSMEP) is targeting an increase in opportunities for SMEs to partner with large organizations, with a particular focus on SMEs that produce products for the medical and digital industries.
According to OSMEP Director-General Veerapong Malai, the office has been promoting SMEs’ participation in state sector procurement for high-value product groups, such as those in the medical and digital industries, since last year. This year, the OSMEP aims to elevate SMEs’ roles as trade partners with large organizations in order to expand their marketing channels. The initiative is expected to achieve targeted development for 100 SMEs and generate 60 million baht of economic value.
The OSMEP will also focus on supporting and expanding research and innovation, as well as encouraging the registration of products under the Made in Thailand program, which it conducts jointly with the Federation of Thai Industries. Additionally, the office will continue to connect SMEs with sources of funding, hold roadshows to connect trade partners and conduct business matching sessions.
Director-General Veerapong explained that the medical products industry was valued at 50.5 billion baht in 2021 and is projected to reach 111 billion baht in 2027. Meanwhile, Thailand’s digital industry – which includes software, hardware, smart devices and digital services – was valued at 898 billion baht in 2021, with a 25% expansion from 2020. The digital services industry saw the highest expansion rate within the group and is expected to reach a value of 690 billion baht in 2027. (NNT)
