Thaksin, Facebook post, asks wealthy Thais to give to venture fund for building entrepreneurs

By Pooky; 4/22/2013

Thailand’s billionaire former Prime Minister, Thaksin Shinawatra, ousted by the 2006 coup, in a Face book post, has asked wealthy Thais to contribute money towards a fund to help build entrepreneurs. The move follows his sister, Prime Minister Yingluck’s policy, to make state fund, available to university students to start business. Thaksin said American high tech businesses received ample support from venture capital funds, which was one of the reasons behind its economic success, pointing out that some major US-based businesses such as Microsoft, Apple, Dell Computers and Facebook at one time got a boost from the venture capital industry. Last year Thailand’s securities regulator said it would revise regulations to allow exemption for private equity and venture capital firms from holding securities licences. The move, which makes it easier to launch funds, is aimed at stimulating investment into the country’s SMEs. Mean while PM Yingluck’s high minimum wage and also the stronger Thai currency Baht, are said to have hirt Thai SMEs, massively. However,  new business registration in Thailand continues to be robust and bankruptcy few. For the first quarter of 2013 new business registration, is at historic high at about 20,000 businesses, a 14% increase over the 4th quarter of 2012 and  business bankruptcy in the first quarter of 2013 fell about 60% from the first quarter of 2012 (Source).

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