The Importance of Driving Thai Small and Medium Enterprises from an Exporter to Multinational Enterprise

Main Article Content

Netchanock Uthairat
Mariem Nami
Nuntasaree Sukato


     Thai small and medium-sized enterprises (SMEs) play a significant role in the country's economy, a large portion of employment and economic output. However, many Thai SMEs operate only within the domestic market or a sole exporter of contract manufacturing. This limits their potential for growth and competitiveness.
     Pushing Thai SMEs from being purely exporters to becoming multinational enterprises (MNEs) can have a number of benefits for the businesses themselves, as well as for the Thai economy as a whole. MNEs have the potential to access larger markets, achieve economies of scale, and benefit from increased knowledge transfer and technological innovation.
     In order to support the transition of Thai SMEs from exporters to MNEs, it will be important to address the various barriers and challenges that they face. This may include providing access to finance, improving the business environment, and building the necessary infrastructure and support systems.
     The industries of Thai small and medium enterprises which should be support to multinational corporations should have the international competitive potential, the expanding market potential and the growth potential.
Article history: Received 4 October 2023             
                            Revised 8 November 2023
                            Accepted 10 November 2023      
                            SIMILARITY INDEX = 0.00 %

Article Details

How to Cite
Uthairat, N., Nami, M., & Sukato, N. (2024). The Importance of Driving Thai Small and Medium Enterprises from an Exporter to Multinational Enterprise. Journal of Management Science Nakhon Pathom Rajabhat University, 10(2), 142–155. (Original work published December 30, 2023)
Research Articles


สำนักงานส่งเสริมวิสาหกิจขนาดกลางและขนาดย่อม [สสว]. (2565). ผู้ประกอบการSMEs ภาคการผลิตเฟอร์นิเจอร์. [ออนไลน์]. ค้นเมื่อ 12 สิงหาคม 2566 จาก

สุชาติ อำนาจวิภาวี, ศิริวัฒน์ เปลี่ยนบางยาง, เพ็ญศรี ฉิรินัง และ จิระพันธ์ สกุณา. (2563). การบูรณาการการนำนโยบายไปปฏิบัติของภาครัฐในการพัฒนาวิสาหกิจขนาดกลางและขนาดย่อมเพื่อความยั่งยืน. วารสารดุษฎีบัณฑิตทางสังคมศาสตร์ มหาวิทยาลัยรามคำแหง , 13(1), 271-282.

Adarkwah, G. K. and Malonæs, T. P., (2020). Firm-specific advantages: a comprehensive review with a focus on emerging markets. Asia Pacific: Asia Pacific Journal of Management, 39, 539-585.

Bartel, C. (2018). Multinationals: Local adaptation key to sustainable development. Leveraging private investment for sustainable development, 7(2), 39-41.

Cadestin, C., Backer, K. D., Miroudot, S., Moussiegt, L., Rigo, D., and Ye, M., (2019). Multinational enterprises in domestic value chains. OECD Science, Technology and Industry Policy Papers, 63. The Organization for Economic Cooperation and Development (OECD) Publishing.

Chen, J. (2022). Conglomerate: Definition, Meaning, Creation, and Examples. [Online]. Retrieved July 31, 2023 from

Chen, J. (2022). Multinational Corporation: Definition,How It Works, Four Types. [Online]. Retrieved July 31, 2023 from

Dithurbide, D. (2022). Building a Multidomestic Strategy That Resonates with Global Customers. [Online]. Retrieved July 30,2023 from


Eckert, S., Koppe, M., Burkatzki, E., Eichentopf, S., and Scharf, C., (2022). Economies of Scale: The Rationale Behind the Multinationality‑Performance Enigma. Management International Review, Springer, 62(5), 681-710.

Foley, C.F.,Hines, J. R., and Wessel, D. (2021). Multinational Corporations in the 21ST Century Economy. USA: Brookings Institution Press.

Fouejieu, A.P., Ndoye, A., and Sydorenko, T. (2020). Unlocking Access to Finance for SMEs: A Cross-Country Analysis. IMF Working Paper,20(55), 1-32

Fragouli, E. and Nicolaidou, Z. (2020). Risk management of multinational companies (MNCs) in rising economies. International Journal of Information, Business and Management, 12(4), 238-268.

Kenton, W. (2022). Strategic Alliances: How They Work in Business, With Examples. [Online]. Retrieved July 31, 2023 from

Korohodava, O., Moiseienko, T., and Voitko, S. (2022). Transnational Corporations. Kyiv: Igor Sikorsky Kyiv Polytechnic Institute, National Technical University of Ukraine.

Lobo, C.A., Fernandes, C.I., Ferreira, J.M., and Peris-Ortiz, M. (2019). Factors affecting SMEs' strategic decisions to approach international markets. European Journal of International Management: Inderscience Publisher, 6, 617-639.

Masroor, N. and Asim,M. (2019). SMEs in the Contemporary Era of Global Competition. Procedia Computer Science, 158, 632-641.

May, C. and Brink, T.T. (2022). The significant of domestic markets for growth dynamics in Brazil, India, and China. Chicago: SASE Conference, University of Chicago.

McGrath, J. and Ross, T. (2021). How Multinational Corporations Can Lead the Way on Sustainability. [Online]. Retrieved August 1, 2023 from

Mushtaq, S. K. (2016). Difference between a global, transnational, international and multinational company. Riyadh: Prince Sultan Defense Studies And Research Center(PSDSARC).

Neubauer, D. (2014). The rise of the global corporation. Hawaii: The University of Hawaii.

Reckendrees,A., Gehlen, B., and Marx, C. (2022). International business, multinational enterprises and nationality of the company: a constructive review of literature. Business History, 64 (9),1567-1599.

Ribeiro, J.L. , Antunes Junior, J.A.V., Silva, D.O.D., Silva, W.D.D., and Sellitto, M.A., (2022). Driving Innovation Initiatives in a Multinational Company Subsidiary: A Case Study and Conceptual Framework for Further Application. Journal of Open Innovation: Technology, Market, and Complexity, 8 (4), 219-242

Rossum, J. (2017). 5 benefits of international expansion. [Online]. Retrieved August 1, 2023 from

Segal, T. (2022). What Are Exports? Definition, Benefits, and Examples. [Online]. Retrieved September 30, 2023 from

Sisk, A. (2018). Sources of External Financing for Multinational Enterprises. [Online]. Retrieved September 30, 2023 from

The Forum for International Trade Training [FITT] (2022). A Guide to Preparing an International Business Plan. [Online]. Retrieved September 30,2023 from

The Organisation for Economic Co-operation and Development [OECD]. (2017). Enhancing the Contributions of SMEs in a Global and Digitalised Economy. Paris: OECD Publishing.

Vanninen, H., Keranen, J., and Kuivalainen, O. (2022). Becoming a small multinational enterprise: Four multinationalization strategies for SMEs. International Business Review (2022), 31(1), 1-13.