Thailand promotes e-commerce development

Bangkok - The Thai government has vowed to move forward with its e-commerce development plan, aiming to increase domestic e-commerce revenue to more than 7.1 trillion baht (209 billion USD) by 2027, average growth of 10 percent annually, local media reported.

According to Deputy Minister of Commerce Sansern Samalapa, who chaired the 2022 E-Commerce Committee meeting on April 21, the committee approved a draft national e-commerce development action plan phase II, which spans 2023-27. Phase I covered 2021-22.

Under the first phase, the government aims to raise e-commerce revenue to 5.35 trillion baht this year; increase the e-commerce revenue of small and medium-sized enterprises (SMEs) by at least 5 percent a year; and grow outbound cross-border e-commerce revenue by at least 5 percent a year during 2021 and 2022.

The plan is expected to link e-commerce information between the government and the private sector, as well as increase the efficiency of the country's big data analysis. The scheme wants registration of e-commerce operators through the Department of Business Development to reach at least 10,000 a year. The first phase is also meant to promote integration among 20 state agencies, eight ministries and the private sector.

According to Electronic Transactions Development Agency data, the value of Thailand's e-commerce amounted to 4.01 trillion baht in 2021, a rise of 6.08 percent from 3.78 trillion in 2020.

“In 2022, the Commerce Ministry plans to continue to strengthen the trade competitiveness of entrepreneurs, including SMEs, community enterprises and farmers, to reduce inequality and develop the grassroots economy," Sansern was quoted by the Bangkok Post newspaper as saying.

The focus is on building a good national image to improve overseas consumer trust in order to benefit from market expansion for bio-, circular, and green economy products through online platforms and business matching, he said.

According to Sansern, the second phase of the action plan will aim to develop manpower, citizens and digital entrepreneurs (competency building); upgrade the environment and factors contributing to the development of e-commerce (ecosystem and enabling factors); enhance confidence in transactions in the industry (trust and security), and develop online platforms and promote online trade both domestically and across borders.