In 2000, the Thai parliament enacted the Small and Medium Enterprises Promotion Act, aimimg to promote SMEs, which prompted an establishment of the Office of Small and Medium Enterprises Promotion in the later year. This office is an independent governmental agency, acting as a cental planning office, coordinating the strategic plans and works of all relevant agencies related to SMEs development. The national plan for small and medium enterprises promotion was launched in 2002 after nationwide brainstorming efforts between related agencies and the private sector. In addition, The SMEs Bank was established in December of 2002, as a specialized financial institution, providing financial support to SMEs and promoting new SMEs.