EXIM Thailand Finances Srithai Superware’s Machinery and Factory Improvement Worth 220 Million Baht in Response to Competition in the Next Normal Global Trade

Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), and Mr. Chaiwat Kulphattaravanich, Director of Srithai Superware Pcl. (SITHAI), jointly signed an EXIM Thailand financial facility agreement worth 220 million baht at EXIM Thailand’s Head Office on October 3, 2022 to finance SITHAI’s machinery and factory improvement for higher production efficiency in response to the global trade in the Next Normal era. The event was witnessed by Mr. Sanan Angubolkul, SITHAI Chairman, and Dr. Darmp Sukontasap, EXIM Thailand’s Chairman of Board of Executive Directors.

EXIM Thailand President revealed that the objective of EXIM Thailand’s long-term credit facility at a special interest rate this time is to empower Thai industries with high potential to turnaround and resume production and export to a greater extent, particularly Thai plastics industry on the back of its strong domestic upstream industries and supply chain, which has driven Thailand to take the lead in ASEAN plastics industries and generated earnings of more than 4,000 million US dollars to the country. This would enable small, medium and large entrepreneurs throughout the supply chain to embrace new business opportunities in the global markets on the verge of post-COVID-19 recovery and amid such global economic challenges as rising trends of interest rates and oil price hikes, which have pushed up production and transportation costs, by using state-of-the-art machinery and production technologies, fully-equipped factories, and effective production processes and work systems, as well as available innovation and automation to streamline work processes, cut down production costs, mitigate labor risks, and add value to the goods and services in response to demand of the Next Normal global consumers.

“EXIM Thailand is well-positioned to perform as a financial advisor to provide knowledge and financial tools for Thai entrepreneurs in their business start-up or expansion in the global markets, being able to adapt to and deal with changes and capture fresh business opportunities. Risk hedging tools for their international business transactions are also made available by EXIM Thailand and business counterparts from both public and private sectors. We seek to encourage Thai entrepreneurs to develop and improve their production, uplift innovation of goods and services, and carry out market making conducive to sustainable expansion of customer base and competitive edge in international arena so that entrepreneurs throughout the supply chain would grow together alongside stakeholders of all sectors on a sustainable basis,” added Dr. Rak.

Source: EXIM Thailand