Kasikorn supports Chinese SMEs in Thailand

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BANGKOK, 25 May 2012  – The Kasikornbank has set the target for loan amount to Chinese SMEs in Thailand at 2 billion baht in three years, to encourage Chinese entrepreneurs to invest in Thailand. 

Kasikornbank Executive Vice President Pipit Aneaknithi said Thailand has been attracting Chinese businesspeople since the kingdom has many Free-Trade Agreements (FTAs) with several countries. Thailand has para rubber, cassava, and oil palm, for which China has high demands. At the same time, Thailand is also located in the center of ASEAN.

Mr Pipit said although the Thai GDP last year expanded by only 0.1%, the Thai-Chinese trade rose by 30%. At present, China is the country with the second highest investment value in Thailand.

He further stated that most Chinese companies in Thailand received investment supports from their mother companies; if the funding is insufficient, they would seek loans from local Thai banks. The vice president said that the bank, therefore, is gearing itself up to offer those SMEs loans as well as investment advice on suitable locations for business and their privileges from the Board of Investment of Thailand’s support as well as business matching.