Bangkok--23 Nov--Siam Commercial Bank
Siam Commercial Bank has joined with the Federation of Thai Industries (FTI) in organizing a 12th SCB-FTI Factory Outlet Sale. The sale will feature a variety of quality foods and products paraded by Thai small- and medium-size enterprises (SMEs) for shopping-lovers, with more than 200 booths offering brand name products on sale at special discounts of up to 25%. Also participating are many of the increasingly popular Food-Trucks providing food lovers with their favorites. The event, scheduled to take place during November 23-27, 2015 between 09.00-18.00 hours at Mahisorn Hall, SCB Headquarters, Rachayothin, is being held to enhance business opportunities for Thai SMEs while at the same time providing consumers a chance to shop for high quality products at bargain prices. An added benefit is that it will help stimulate local consumption, vital to driving the country's overall economy.
SCB President Mr. Yol Phokasup said the current economic slowdown has had a direct impact on SME business performance. Realizing the difficulties, the Bank is strongly determined to continuously provide assistance to SME clients through various activities to ensure they run their business efficiently. This includes providing financial support, enhancing their knowledge through various seminars and training programs, building an SME network, and promoting marketing and distributing channels through the organization of SCB-FTI Factory Outlet Sales.
"SCB-FTI Factory Outlet Sale has drawn great cooperation from SMEs from the start. More than 200 SMEs are eager to join the event, which is being held for the 12th time. It is expected the 5-day fair will generate more than 20 million baht in income from food and product sales. It underlines the Bank's strong intention to stand by our SME clients in any situation to help them weather economic difficulties," he added.
Federation of Thai Industries Chairman Mr. Suphan Mongkhonsuthee reiterated that SMEs play an instrumental role in driving the country's overall economy. The total number of business enterprises in 2014 totaled 2.74 million. Of this, 2.73 million or 99% are SMEs. They have the potential to generate up to 1.9 trillion baht in exports, or 26% of the country's total export value. To upgrade SME competitiveness to meet international standards Mr. Suphan noted that some developments must be made, including the accelerated implementation of research and development for more innovative products, the provision of financial support for investment in new innovations, and the enhancement of distribution channels. With those developments Thailand will be able to change its status from a raw material exporting country into a finished product exporting nation.
"As you are aware, the SCB-FTI Factory Outlet Sale is one of the activities jointly held by SCB and the FTI to enhance the efficiency of SME distribution channels. The event will provide SMEs with a good opportunity to promote awareness of Thai products in the marketplace. It will also help stimulate local consumption and enhance business liquidity for SMEs amid the current economic sluggishness. The event has drawn great interest from SMEs, who have participated in the fair in increasingly numbers every year. The 12th SCB-FTI Factory Outlet Sale this year will be even more special than previous events as SMEs in the food distribution category will introduce a new method and strategy for food sales via Food Trucks. As trend-setting food shops, Food Trucks can add value to products and boost SME sales through creative designs and product presentation. Also available at the event will be quality products offered directly by manufacturers to consumers at attractive prices, including textiles and garments, electrical appliances, precious stones and ornaments, herbal cosmetics, household appliances, and much more. It is expected this fair will become a venue to enhance sale channels and opportunities for Thai SMEs so they grow stronger under any economic circumstances," Mr. Suphan said.