Sunday, January 29, 2023
Export-Import Bank of Thailand (EXIM BANK) and the Small Industry Credit Guarantee Corporation (TCG) expand alliances in The S1 project by integrating cooperation with the Small and Medium Enterprise Development Bank of Thailand ( SME D Bank) and the Islamic Bank of Thailand (iBank) to jointly develop a business model that applies technology to enhance service levels and help SMEs to receive funding support that meets their needs. business in a short time Along with other comprehensive services to strengthen the competitiveness of Thai SMEs in doing business both domestically and internationally.
Mr. Arkhom Termpittayapaisith Minister of Finance presided over and witnessed the signing ceremony of a Memorandum of Understanding for cooperation in business model development between Dr. Rak Worakijpokathorn, Managing Director of EXIM Thailand, Mr. Sitthikorn Direksunthorn, Director and General Manager of TCG, Ms. Nartnaree. Rattapat, Managing Director of SME D Bank and Dr. Thaweelap Rittapirom, Director and Manager of iBank, with Mr. Ed Wibooncharoen, Inspector General of the Ministry of Finance and Chairman of the Board of Directors of TCG and Ms. Saphatporn Thammaporn Philas Deputy Director of the Fiscal Policy Office Witnessed at the 60th Anniversary Celebrations of His Majesty the King’s Accession to the Throne International Convention Center, Prince of Songkla University, Songkhla Province on January 27, 2023.
This cooperation aims to unlock the limitations of Thai entrepreneurs, especially SMEs, to access support from state-owned financial institutions so that SMEs, which number up to 99% of the entire system or more than 3.18 million entrepreneurs, will be a force. Important to drive and build the foundation of the country’s economic stability. SMEs play a role in the economy in the proportion of 34% of the country’s GDP and account for 72% of the total employment. But Thai SMEs entrepreneurs still face limitations in doing business. especially access to funding sources The four state-owned specialized financial institutions therefore joined forces to help SMEs overcome their limitations and run their businesses successfully. Amidst the volatile and challenging economic environment whether inflation is still at a high level Rising interest rates and lingering geopolitical issues As a result, the International Monetary Fund (IMF) forecasts that the global economy in 2023 will expand only 2.7%, the lowest in 21 years (excluding the year of the Hamburger Crisis and COVID-19), and there may be 1 country. In 3 worlds face recession. While the Thai economy in 2023 is likely to grow better than the previous year mainly due to domestic demand. But the export sector still has a chance to slow down due to pressure from external factors.
Under the S1 (SMEs One) project, the four financial institutions will use their expertise in designing products and services to support SMEs in the supply chain, exports, to receive both credit and letter of guarantee services quickly and in line with Business needs under service through co-branch and online channels Including the use of digital technology to enhance service efficiency for SMEs customers. In addition, products will be developed specifically for The S1 project to alleviate financial costs and provide benefits. To meet the needs of entrepreneurs who are small people in the business world to be able to start or expand their business stably and sustainably in the new world trade arena.
