Village Funds are being urged to invest more in social projects instead of building roads or buildings, applying more technology to increase competitiveness.
Speaking to a seminar on Village Funds yesterday, Deputy Prime Minister Somkid Jatusripitak said the 79,598 Village Funds should play a key role in creating jobs and generating income for their residents, both via investing more in social projects and community businesses.
"Instead of waiting for government financial support, directors of each Village Fund should be strengthening their funds, such as using the internet to launch e-commerce to sell community products globally," he said. "Broadband internet has been installed nationwide at a cost to the government of 15 billion baht, and the funds should use that technology to generate income for the community."
Mr Somkid said community businesses and technology can attract the younger generation to return home.
Each committee should think about launching projects that create real benefit to communities, such as growing products that meet market demand, running community businesses, or investing in tourism facilities, he said.
Mr Somkid also urged villages to develop into clusters for community businesses, and upgrade their Village Funds to become community banks for investment in more social projects such as elderly care, children's services, public health, tourism and education.
"We expect political interference is unlikely if Village Funds can strengthen their competitiveness," he said.
The Village Fund scheme was implemented in 2001 with the intention to allow villagers to have a revolving fund. The government is estimated to have injected more than 70 billion baht to the Village Funds during 2016-18.
Some 200,000 projects were implemented, spanning small shops, community drinking water development, farm product development and consumer products.
The projects could create 1.6 million jobs, while the Village Funds could generate a total income of 39 billion baht and turn a profit of 8.5 billion over the three-year period.
The National Village and Urban Community Committee reported there are 79,598 Village Funds with 13 million members, and a revolving fund worth a combined 368 billion baht.
