EXIM Thailand has pointed out that Thai businesses need to grow sustainably driven by improvement of production processes or innovative products that cater to the current megatrends concerning environmental conservation, digital technology development and healthcare. To embrace such trends, EXIM Thailand has made available solutions for entrepreneurs' improvement and development of their production processes as well as online trade channels that would respond to demand of consumers of the Next Normal era.
Dr. Pasu Loharjun, Chairman of the Board of Directors, Export-Import Bank of Thailand (EXIM Thailand), said in his opening speech at an online talk titled "A Better World in the Next Normal" at EXIM Thailand's Head Office on December 16, 2021 that the Bank has strived to perform as Thailand Development Bank and been committed to be a responsible bank toward the economy, the society and the environment in its sustainable banking journey. The Bank is thus well positioned to support business operations of Thai entrepreneurs, particularly SMEs, to ensure their firm and sustainable growth. As sustainability is the cornerstone of development of the future world in respects of natural, human and social resources, business sectors have to pay attention to the society and the environment alongside enhancement of their business growth.
Dr. Rak Vorrakitpokatorn, EXIM Thailand President, said that the way for business entities to brave the Next Normal challenges is to integrate businesses and generate more green, more digital and more health products, such as business undertakings that reduce emissions of pollutants and use of online trade platforms for export. By 2025, people across the world are expected to buy goods online in the value of as high as 60% of total trade value, and consume more foods for health like organic, plant-based and functional foods containing ingredients of extra properties other than nutrient composition in general, which could record an annual growth in market value of 10-15% growth by 2027 in response to the shift in demand of consumers in line with the new world changes post COVID-19 pandemic. Meanwhile, governments of several countries have increasingly enacted international trade rules and regulations as well as measures associated with the environment and health safety. Under such circumstances, Thai entrepreneurs need to adapt to and deal with the changes and the implementation of such rules, regulations and measures, as well as fulfilling demand of the Next Normal consumers.
According to Dr. Rak, "Equation of Sustainable Business Growth" would be the key success formula for sustainable growth of Thai businesses, encompassing 3 variables: 1. Development of sustainable business model with due consideration of people around the world and sustainable profit (People, Planet, Profit), 2. Business operation adaptable to future trends by applying GDH trend to goods, services and production processes, or diversifying to new business lines that would suit such trends, and 3. Business partnership between EXIM Thailand and various public and private entities which would help fill business gaps of Thai entrepreneurs end-to-end. EXIM Thailand is fully equipped with products and services that would facilitate entrepreneurs' transformation of their businesses toward sustainability. Its products include EXIM Biz Transformation Loan to support entrepreneurs' additional investment to uplift their production process efficiency, expansion of production capacity and improvement of digital software, with lowest interest rate of 2% per annum, a maximum credit line of 100 million baht per entrepreneur and a maximum repayment term of 7 years; EXIM for EEC & Industrial Estate Credit for entrepreneurs aiming to make investment in the EEC (Chonburi, Chachoengsao and Rayong) and industrial estates or special economic zones, offering lowest interest rate of 3% per annum and a maximum repayment term of 10 years; and such other facilities as risk hedging tools for international trade and investment and provision of knowledge and training on export and organization development toward sustainability. The Bank is also ready to support building and strengthening of business partnership to embrace and cope with the new trends of global trade.
At this online talk, EXIM Thailand President and special guests from government agency and leading companies with successful business operations applying the sustainability concept, namely, Mr. Angsutorn Wasusun, Deputy Director, Industrial Strategy Division, Eastern Economic Corridor of Thailand; Mr. Thiraphong Chansiri, Chief Executive Officer of Thai Union Group Public Company Limited, and Miss Lena Ng, Chief Investment Officer of Amata Corporation Public Company Limited, jointly introduced concepts and shared experiences aiming to raise Thai entrepreneurs' awareness of the necessity to transform their businesses in order to survive and grow sustainably with due care for the economy, society and environment.
"In the Next Normal era, business transformation toward sustainability is not a "choice to do," but a "must do" for survival of all businesses. EXIM Thailand is and remains steadfast in working with all alliances and customers that are ready to be fast adaptable with a view to assisting Thai entrepreneurs, SMEs in particular, in entering export supply chains on a firm and sustainable basis, and adhering to business operation standards with social, environmental and governance concerns while responding sustainably to megatrends and global developments," added Dr. Rak.