SCB

        ...to strengthen Thai SMEs in dealing with new opportunities and challenges in 2012  and promote their sustainable growth

        Siam Commercial Bank, together with the Federation of Thai Industries (FTI) and the Office of Small and Medium Enterprises Promotion (OSMEP) recently organized a "Next Steps for Thai SMEs in 2012"  seminar to support and strengthen SME capabilities in dealing with business opportunities and challenges in 2012. The seminar dealt with a number of tactics, including operational management revamp for increased efficiency, implementation of appropriate marketing plans, and seeking fully integrated financial support.
 

             Siam Commercial Bank Business Banking Group Senior Executive Vice President Mr. Sirichai Sombutsiri said, "The Thai economy in 2012 is expected to expand by more than 4%.  However, the EU public debt crisis will certainly affect export and capital movements and prompt baht fluctuation. Business opportunities will, therefore, remain in domestic consumption, partly due to rehabilitation of post-flood damage and the transition to the ASEAN Economic Community (AEC) in 2015, which will present opportunities for Thai businesses.  SCB recognizes the importance of making SMEs more resilient to enable them to turn challenges into opportunities.  Realizing that SMEs are the foundation driving the country's business and in line with the Bank's strategy of knowledge enhancement for customers, the Bank has joined hands with two organizations specializing in SMEs, namely the Federation of Thai Industries (FTI) and the Office of Small and Medium Enterprises Promotion (OSMEP) to organize a "Next Steps for Thai SMEs in 2012" seminar. We believe that the seminar will meet the actual requirements of SMES at every stage to ensure their sustainable growth."


            Federation of Thai Industries (FTI) Chairman Mr. Payungsak Chartsutipol noted that, "FTI is  well aware of the significance of SMEs as evident in its vision of being the core of Thai industrial strength and productivity enhancement in order to make Thai SMEs competitive on an international level, foster economical and social development, and promote a sustainable environment. However, SMEs must closely monitor both internal and external changes that can create opportunities and challenges through economic, social, and environmental impacts, such as the recent flood crisis, the coming minimum wage adjustment to 300 baht, or rising oil and LGP prices.  In a bid to assist SMEs in dealing with the above uncertainties, the FTI, through  the Small and Medium Industrial Institute (SMI), OSMEP, and SCB have organized this seminar.  Further collaboration between the three organizations will be seen in the future, and FTI will be the medium connecting the government and the private sector, including SME networks, focusing on the manufacturing sector to strengthen its potential and capability for its sustainable competitiveness.


            Office of Small and Medium Enterprises Promotion (OSMEP) Director Mr. Yuttasak Suppasorn said, "Thailand has more than 2.9 million SMEs located nationwide, accounting for 99.6% of Thailand's total enterprises.  In 2012, it is projected that SMEs should grow by 3.8-4.2%, compared with 2011.  The export sector alone should grow by 24.5 - 26.1%, backed by economic growth in Asian countries as major export markets for Thai SMEs.  Segments with favorable growth potential this year include  auto spare parts and electronics, processed foods, sugar, rubber and rubber products, and many others, while segments involved in the fashion business (textile and apparel, leather products, jewelry and accessories), fisheries, and steel and related products should be more cautious.  In order to improve SME readiness in 2012, OSMEP will promote new SMEs, upgrade OTOP producers, and broaden opportunities for Thai SMEs to prosper in the coming Asian Economic Community. 

      “SCB sincerely hopes that  the synergy between  the government and private sectors will help accelerate the agility and readiness of SMEs in dealing with challenges and turning them into opportunities. We believe that 2012 will be another promising year with plenty of opportunities for SMEs. Complemented by the government sector, domestic consumption, and access to funding, the Bank is also keen to continuously expand our market for sustainable growth.  This year, the Bank aims to grow SME loans by 22%, or 50 billion baht", concluded Mr. Sombutsiri.