The Office of Thailand Trade Representative Joins Force with SME Bank, EXIM Bank, and the Government Pension Funds to Support Thai Business Operators in International Trading

The Office of Thailand Trade Representative Joins Force with SME Bank, EXIM Bank, and the Government Pension Funds to Support Thai Business Operators in International Trading
The Office of Thailand Trade Representative along with SME Bank, EXIM Bank, and the Government Pension Fund announces the first joint effort to support Thai business operators in international investment by increasing their potentials and growth at Tumbtim Conference Room, the 11th Fl. of SME Bank Headquarter.
Today (July 12, 2010), four governmental agencies join hands to announce the first combined task force of its kind under the name “The Competence Enhancement Project for Thai Business Owners to Global Trades.” The project is a pilot program to encourage domestic and international investments among Thai business owners. The representatives are Dr. Vachara Phanchet of the Office of Thailand Trade Representative, the Government House, Mr. Soros Sakornvisava, President of Small and Medium Enterprise Development Bank of Thailand (SME BANK), Mr. Somporn Jitpenthom, Executive Vice President of Export-Import Bank of Thailand (EXIM Bank), and Mr. Yongyong Nilsena, Deputy Secretary General, The Government Pension Fund (GPF). The objectives of the project are to support Thai business owners financially to establish or expand the business, trade, domestic and international investments, and to support the expansion and growth of Thai businesses, trades, investment, and manufacturing industries in order for them to remain competitive in the global arena.
The process starts with the Office of Thailand Trade Representative to screen and find operators with potentials, qualifications, and appropriate businesses that suit the project. They will also look into the needs of the operators that would require assistance from relevant financial institutions to assist or support. Then they will check all information of the operators passing the initial requirement prior submitting them to relevant financial institutions for assessment and further assistance. Next, SME Bank and EXIM Bank, as the financial institution will review the application and find the proper loans to assist business operators with potentials to establish or expand their businesses, trades, or investment domestically, or internationally. Lastly, GPF will consider investing in the business under its own rules and investment policies, and taking the risks and appropriate returns into account.
The collaboration is a result of the government policy to push for international investment among Thai business operators. Currently, there are many interests from operators in the food industry, auto part industry, construction industry, hotel industry, and logistics industry. The Office of Thailand Trade Representative will act as an investment coordinator for financial and marketing support.