Three State Banks Ink MOU with Five Associations to Boost Thai Construction Business Abroad

EXIM Thailand, Krung Thai Bank and SME BANK reached an agreement with 5 construction-related associations to provide financial support for Thai contractors in order to enhance their competitiveness abroad, especially in 6 target countries, namely, Libya, Bahrain, Qatar, India, Vietnam and Brunei.


Dr. Apichai Boontherawara, President of Export-Import Bank of Thailand (EXIM Thailand); Mr. Apisak Tantivorawong, President of Krung Thai Bank Public Company Limited; and Mr. Soros Sakornvisava, President of Small and Medium Enterprise Development Bank of Thailand (SME BANK); signed a Memorandum of Understanding (MOU) with representatives from 5 associations, namely, Consulting Engineers Association of Thailand (CEAT), Association of Siamese Architects under Royal Patronage, Thai Contractors Association under H.M. the King’s Patronage, Thai Real Estate Association, and Thai Electrical & Mechanical Contractors Association at the Government House on November 5, 2009. The MOU signing ceremony was presided over by Mr. Abhisit Vejjajiva, Prime Minister. The objective of this agreement is to provide financial support for Thai entrepreneurs in the construction and real estate development industries seeking overseas contracts, thus, making them more competitive in the global arena.

Under the MOU, the three banks will cooperate in giving support and financial assistance to members of the 5 associations wishing to bid for contracts abroad. The goal is to enable Thai contractors to succeed more in overseas project bidding, especially in 6 target countries, namely, Libya, Bahrain, Qatar, India, Vietnam and Brunei. In the future, the target country list is expected to include other countries in the ASEAN and African regions.

Dr. Apichai Boontherawara, EXIM Thailand’ President, said after the signing ceremony that the cooperation between the 3 banks and the 5 associations is aimed to sharpen the competitive edge of the Thai construction sector on the world stage and help Thai contractors achieve sustainable growth while earning foreign exchange. This is in line with EXIM Thailand’s mandate as a development bank and also addresses the Government’s economic stimulation policy.