Exim Told To Boost Activities

The Export-Import Bank of Thailand (EXIM Thailand) is ordered to further boost its export, import and investment promotion capabilities. During his visit to the bank on Monday Deputy Finance Minister Pruttichai Damrongrat said EXIM Thailand should proactively assist Thai entrepreneurs in creating business opportunities, tackling problems and obstacles, as well as mitigating risks arising from international trade so that they can retain existing markets while penetrating new ones.

Import of capital goods, machinery and production technology should be promoted, taking advantage of the strong baht while enhancing exporters' production capability to enable them to compete more successfully in the upper markets. Furthermore, EXIM Thailand needs to gear up its role as "development bank" by supporting domestic investments beneficial to the advancement of Thai exports and economy in the long term, such as infrastructure, logistic system, and energy and alternative energy development. In this connection, the Finance Ministry is prepared to support EXIM Thailand both via capital injection to bolster EXIM Thailand's development capability and establishment of an investment promotion fund for Thai businesses overseas.

The bank is one of six specialised state-owned banks expected to raise the combined loan target this year from Bt600 billion to Bt900 billion, to boost the economy.

EXIM Thailand on the day also announced that that during the first six months of this year, the bank approved new loans and export credit insurance in the total amount of Bt13.4 billion. An addition of Bt12.99 billion is earmarked for other loans under negotiation. Its net profit in the period was Bt104 million

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-- The Nation 27/07/09