Enhancing the Participation of Small and Medium Enterprise in Global Gem and Jewellery Value Chain
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Abstract
The objectives of this research are to examine opportunities, threats, key success factors, and propose recommendations to enhance the participation of Thailand’s small and medium enterprises in global gem and jewellery value chain. The research used the mixed research method comprising quantitative and qualitative research The quantitative research employed questionnaire survey gathering information from 70 Thai enterprises with experiences in doing gem and jewellry business internationally and the analysis of trade in gem and jewelly of Thailand and the globe. The qualitative research applied stakeholder in-depth interview with 5 Thai exporters and 10 executives of global leading jewellry brand owners and organized 4 branstorming workshops in Bangkok and other provinces assembling 75 participants from the public and private sectors.
The research reviewed data gathered from mixed method many times to verify the reliability of information as well as complied data that has similar meaning and supportive established facts to ensure the accurancy of the analyzed information. The research found that Thailand’s small and medium enterprises, especially gemstone manufacturers and traders, gained opportunities of tapping into global gem and jewellery value chain resulting from growing production demand for customization, manufacturing contract from multinational jewellery brand owner companies, trade liberalization, concerns on product quality and standard, and online trading. In contrast, the small and medium enterprises encountered many obstacles caused by the lack of fund, technologies, and international marketing skills; price fluctuation and limitation of accessibility to raw materials, price competition, and the unfavorable taxation measures.
Strategies to enhance of the participation of Thailand’s small and medium enterprises in global gem and jewellery value chain that required collaboration of the public and private sectors to drive comprising strengthening capacity of enterprises by developing production quality and favorable taxation measures, establishing cooperations with multinational companies, and promoting small and medium enterprises as a part to drive Thailand to become the global gem and jewellery trade center.
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