Bangkok--10 Feb--Siam Commercial Bank
Siam Commercial Bank has agreed to collaborate with the government and private sectors in signing "Uniting the Power of the People's State to Promote SMEs and Start-ups" MOUs. The MOUs will be adopted as part of the bank's business plan to drive three special projects that seek to boost the competitiveness and long-term sustainable growth of SMEs and Start-up businesses. The three projects comprise:
1) A 100 million baht SCB Venture Capital Project for SME and IDE Start-ups and Social Enterprises to help them strongly establish their businesses.
2) A Marketplace Project to build channels for displaying and offering products directly to consumers.
3) An SME Expo - Total Business Solutions event that aims to provide practical answers for SMEs at every stage of their business growth.
All projects will receive cooperation from every sector involved to help build a strong foundation for Thailand's economic and social growth.
Speaking about the MOU, Siam Commercial Bank President Mr. Yol Phokasub said that a grassroots economy will lead to strong, stable, prosperous, and sustainable economic growth, so SCB has therefore incorporated SMEs and Start-ups into its main business plan for 2016. SCB will play a role as one of the parties in the "Uniting the Power of People's State" measure originating with cooperation of the state, the people, and businesses committed to promoting and supporting SMEs, Start-ups, and Social Enterprises as the main engines for Thailand's economic and social expansion. Most recently, SCB signed four "Uniting the Power of People's State to Promote SMEs and Start-ups" MOUs comprising:1. An MOU to support SMEs through the Big Brother Project. 2. An MOU to promote innovative start-ups to develop the ecosystem. 3. An MOU to raise standards and promote social entrepreneurs. 4. An MOU to provide financial support to promote social entrepreneurs.
Mr. Yol said that SCB recognizes the importance of SMEs, and the bank has continuously held campaigns to promote, share knowledge, and provide special assistance to SMEs when they encounter difficulty. The government has launched this current project to support SMEs in various industrial segments following the MOUs signed today with the SCB Venture Capital Project, whereby SCB will provide a credit line of 100 million baht as a source of funds for start-ups and social entrepreneurs to promote their businesses to regional and global markets. The loans, providing a maximum amount of 5 million baht per customer, will be granted under special conditions without collateral requirements to assist SMEs in gaining access to loans through the Thai Bankers Association.
Under the "Big Brother" MOU, SCB plans to extend its existing project to meet even more SME requirements, while with the Market Place Project SCB and the Federation of Thai Industries (FTI) will join hands to organize SCB – FTI Factory Outlet Fairs twice a year to promote SMEs. The fairs will let SCB customers or FTI members offer their products for sale directly to customers while at the same time assist them in creating business networks. In addition, SCB is preparing to launch an SME Expo – Total Business Solutions event aimed at providing end-to-end solutions for SMEs through knowledge, problem solving, networking, and business matching assistance within the event.
"As a leading bank, and the first Thai bank, SCB is pleased to play a role in building a strong foundation for the important economic and social development of the country. We are confident that these projects will lead to action and influence every group in society, empowering them to drive our country to increased competitiveness and progress in the global arena."
For more information, please contact any SCB branch or the SCB SME Call Center at 02-722-2222.