Bangkok--22 Aug--EXIM Thailand
EXIM Thailand meets its operational targets for the first half of 2006 while accelerating its support to service providers for exports, trading companies and business consultants for export-oriented SMEs. The Bank also highlights its roles in promoting Asian capital market, factory relocation and investment in neighboring countries.
According to Dr. Apichai Boontherawara, President of Export-Import Bank of Thailand (EXIM Thailand), the Bank’s operating results has been satisfactory for the 2006 first half, achieving the goals set for each of the Bank’s strategic plan. Under the first strategy of promoting Thailand’s role in the Asian capital market development, the Bank successfully issued a 3.2-billion-baht bond last May to raise funds for development projects in Thailand’s neighboring countries. The Bank also plans to support Electricite du Laos in its issuance of another baht-denominated Asian Bond to fund hydropower dam and electricity projects in Laos. Further, the Bank, in collaboration with other international financial institutions, is currently conducting a feasibility study on the development of Asian Bond schemes for regional investment projects.
Under the second strategy which focuses on the promotion and expansion of Thai investment overseas, in the first half of this year, the Bank approved new credits and guarantees totaling 3,255 million baht or 65% of its 2006 operational target. The loans and guarantees benefit Thai investors pursuing service contracts abroad in various areas including construction and Thai restaurants. In the second half of this year, EXIM Thailand is committed to furthering its cooperation with other public and private agencies to fully support the government’s policies of Contract Farming promotion and industrial relocation and investment expansion to neighboring countries.
As for the next strategy of supporting the expansion of Thai export into existing and new markets including FTA countries, in the first half of 2006, the Bank approved new credits and export credit insurance in a total amount of 13,444 million baht, constituting 57.7% of its 2006 operational target. Through diverse facilities including financial support, comprehensive training programs and export-related financial advice, the Bank plays an important role in incubating new exporters, strengthening SME exporters and enhancing their competitiveness in the global market. The Bank also plans to establish a market information center for Thai export and overseas investment promotion. To enable Thai exporters to expand their business in new markets and FTA counterparts, in the first half of 2006, EXIM Thailand performed risk assessments on 251 buyers and L/C opening banks in 61 countries for Thai exporters participating in the Bank’s 2006 special financial programs. This service helps boost exporters’ confidence before establishing new business relations or expanding trade volume with familiar buyers.
EXIM Thailand President added that for the latter half of 2006, the Bank has reviewed its strategic and business plans to streamline its role in export promotion. For instance, the Bank places special emphasis on financial support to service providers for exports covering various logistic processes ranging from acquisition of raw materials, manufacturing and marketing, to distribution and delivery of finished products to end-users. The growth of this sector is instrumental to the development and quality enhancement of Thai export products, reduction in production costs and, ultimately, the long-term competitiveness of Thai products on the global trade arena.
EXIM Thailand also collaborates with public and private agencies to support the establishment of Thailand’s trading companies that will play a significant role in opening up new distribution channels for Thai exports in existing and new markets worldwide. In addition, the Bank seeks to incubate and nurture the growth of new exporters through rendering support to business consulting firms which provide counseling services on information technology, accounting, and other fields of specialization to SMEs.
In the first half of 2006, EXIM Thailand registered a net profit of 142 million baht. The loans and accrued interest receivables as of June 2006 stood at 58,893 million baht.
About Export-Import Bank of Thailand
Export-Import Bank of Thailand (EXIM Thailand) is a state-owned specialized financial institution under the Ministry of Finance’s supervision. Established under the Export-Import Bank of Thailand Act B.E. 2536 (1993), which was amended in 1999 to expand its role in supporting investments, EXIM Thailand was mandated to provide financial services for the promotion and facilitation of Thailand’s exports, imports and investments for national development. The Bank’s objectives are to strengthen the competitive edge of Thai exporters and investors abroad as well as promoting business activities that contribute to the earning or saving of foreign exchange.
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