Dim prospects for SMEs in second half

Business prospects for local small and medium-sized enterprises (SMEs) are likely to remain very limited in the second half, attributed to domestic and global economic challenges, notably the impact of the Israel-Iran conflict, says the Federation of Thai SMEs.

- LAMONPHET APISITNIRAN

Oil prices are rising since Israel launched air strikes on Tehran, targeting areas where nuclear weapon programmes are allegedly operated. The attacks caused Iran to retaliate, which has lead to concerns over fuel transport in the oil-rich region, according to media reports.

The situation, along with other geopolitical conflicts as well as the trade war affecting other countries, is not good for the global economy, which will eventually affect the Thai economy, said Sangchai Theerakulwanich, president of the Federation of Thai SMEs.