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State Enterprises In addition to the eight main departments, the Ministry also oversees the operations of 9 state enterprises under its purview which consist of:
The Government Lottery Office is responsible for:
Thailand Tobacco Monopoly (T.T.M.) is a state enterprise that provides revenue generated for the government. T.T.M. has consistently served the government policy to produce and distribute sufficient tobacco to meet demands of consumers in every segment of the market and also develop the quality of each brand to give better taste cigarettes for Thai consumers. T.T.M. earns benefit from the domestic tobacco industry. T.T.M. 's aim is to render an assistance to tobacco growers by supporting them in growing and harvesting, limiting the certain quota in harvesting and ensuring them the guaranteed price. Then, it brings tobacco into the manufacturing process and distributes to tobacco dealers all over the country. Therefore, the operation of T.T.M. has been covered all aspects of the tobacco industry with great responsibility and contribution to the society 3. Government Saving Bank ( http://www.gsb.or.th ) Government Saving Bank (GSB) has its own unique functions and assumes responsibility for promoting the habit of thrift and savings among the public. It offers customers with several forms of services, namely the mobilization of savings and life insurance deposits, the selling of premium savings certificates as well ad the providing of some other forms of financial services. Not only are credits extended to both government agencies and private sectors, the Bank has also expanded its investment capacity to cover a vast array of service, e.g. the extension of credits to individuals and projects to be implemented by government agencies, state enterprise authorities as well as private sectors It has further directed its efforts to serve as a tool in support of the government policy to develop better socio-economic environments and to improve the quality life of the public at regional levels and in rural areas.
The Government Housing Bank (GHB) is a specific-purpose financial institution. Its main aim is to provide a source of finance with lower interest rates for people seeking to purchase their own homes, especially those of low and middle income groups. It also operates in accordance with the Government's policy. Its functions are as follows : Loan Service
Funds Mobilization
Undertakes all types of banking services and business and serves as a supporting arm to the Government as lead bank in implementing official financial policies, maintaining stability of the country’s financial system and capital market, making available credit extension to the provinces and key economic sectors and various government initiated projects. As a good corporate citizen, the Bank also cooperates with government agencies, state enterprises and other charitable organizations, both governmental and private, in making contributions to benefit social causes.
Mandate of the bank for agriculture and Agricultural Cooperatives (BAAC) is to provide financial assistance in the form of loan for production, investment or rehabilitation in agricultural occupation, agriculturally-related occupation or other occupation for farmers and farmers’ institutions so as to increase farmers’ income, develop farmers’ knowledge, improve farmers’ quality of life, loan for postponement sale of farm produces, repayment of old debt as well as loan for expense or investment in carrying out agricultural production promotion project in collaboration with entrepreneur with the approval of the Bank’s Board of Directors. In addition, the Bank’s mandate also includes seeking for funding from various financial sources such as deposits from the general public or borrowings to use as operating funds for its lending services for farmers and farmers institutions.
The Organization, as a Government' revenue-generating enterprise, is responsible for sitting up the liquor distilleries to produce spirits, liquors, liquor-related products, and materials used in liquor production as well as conducting business relevant to or continuing from those operation. The responsibilities of the Liquor Distillery Organization are:
Under the Ministry of Finance's regulation for the establishment of the Playing Cards factory, Excise Department, B.E. 2535, the factory is responsible for :
Main responsibilities of the Export-Import Bank of Thailand are:
The Small Business Credit Guarantee Corporation or SBCG is a state-owned specialized financial institution under the supervision of the Ministry of Finance (MoF). The Corporation was established on December 30, 1991 under " the Small Industry Credit Guarantee Corporation Act B.E. 2534 " to take over the business and operations of the Small Industry Credit Guarantee Fund. SBCG officially commenced its operations on February 21, 1992 with an initial registered capital of Bt. 400 million. SBCG's establishment objectives are as follow:
Secondary Mortgage Corporation was established in 1997 by the Emergency Decree on Secondary Mortgage Finance Corporation B.E. 2540 and started to operate business in 1998. it, as a state enterprise under the Ministry of Finance, is 100% owned by the Government. Its role is to promote and develop secondary mortgage market. This will increase the availability of housing finance to home buyers, improve the stability in the banking and monetary system, and ultimately encourage home ownership for low- and medium-income families. It has two main businesses as follows: Portfolio Investment; Purchasing mortgage loans from approved financial institutions in the primary market for retained portfolio investment. TIn 1964, the Council of Ministers approved a financing strategy to promote and develop small industries, as proposed by the National Economic and Social Development Board (NESDB). A loan processing office for small industries was established under the Department of Industrial Promotion, Ministry of Industry’s supervision to provide financial support to small manufacturing businesses. That office later became the Small Industry Finance Office (SIFO). However, the SIFO’s operations and growth were hampered by limited funds, which were dependent on state budget allocations, and cumbersome and inflexible government procedures and regulations. In 1991, the government promulgated the Small Industry Finance Corporation Act and the SIFO became the Small Industry Finance Corporation (SIFC) with registered capital of Bt300 million. Its status as a juristic person allowed the SIFC to raise capital domestically and internationally. In 2000, the government initiated policies using the SIFC as the primary mechanism to assist small and medium enterprises, key drivers of the Thai economy. The Ministry of Finance recapitalized the SIFC, increasing its equity to Bt2.5 billion On December 20, 2002, the Small and Medium Enterprise Development Bank of Thailand Act was enacted, re-establishing the SIFC as the Small and Medium Enterprise Development Bank of Thailand or SME Bank. The Bank’s mandate was “to conduct business with the aim of developing, promoting and assisting small and medium enterprises to start-up expand or improve their businesses by providing loans, guarantees, venture capital, counseling and other necessary services as prescribed by the Act”. The mission of the SME Bank includes:
Student Loan Fund or SLF is dedicated to provide access to higher education for students who need financial assistance. Their objectives are to speed up the educational development by finding the way to solve the education divide, increase higher education opportunities in order to support and speed up the development of human resources to keep up with the economic growth and increase the competency of the nation in the global economy. From its inception in 1996 to 2004, the SLF has lent more than Bt185 billion to more than 2.3 million students in high schools, vocational schools and universities, in roughly equal proportions for each of those three school types.
Dhanarak Asset Development Company Limited is a company set up in 1994 by the Treasury Department to oversee the 24-billion-baht new civil-service complex project on the Chaeng Watthana Road. Dhanarak Asset Development Company Limited is the Thailand's leading company in asset development with aims to provide modern services based on innovation and good governance for the highest benefit to the economy and society << Previous : Government Agencies
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