Well, the reasons are many. Thailand government along with the private sectors is taking ample initiatives to attract investments in the country. Hence, it is expected that the private investment will sprung up, prompted by the infrastructure projects. In fact, the Japanese clients have signaled higher investments in Thailand this year in comparison to the past few years as supported by bettering domestic investment, says Duangdao Wongpanitkrit, the Chief Finance Officer.
Besides, the loan demand for small and medium-sized enterprise projects has improved. The Bangkok Bank (BBL) has set an SME loan growth target for the year of 4-5%, the same as the last year. Food and beverage, textiles, and building and construction are the key sectors expected to contribute.
In between the ever-changing technology and economic landscape around the world, SMEs must adapt to e-commerce as a tool to broaden business opportunities for the local SMEs. You will be amazed to know that the total e-commerce market value in Thailand totaled to 3.2 trillion baht in the last year (2018).
Also, he said that the Bangkok Bank has motivated SME customers to utilize a single financial account after implementing new lending methods under a single financial account scheme for the SMEs who came on Jan 1.
Similarly, having a single account will be easier for small and medium-sized businesses to access financial sources from the institutions. And for that, the central bank needs the banks to consider the financial statements that are submitted to the Revenue Department while taking loans.
