Home Â»EconomyÂ» EXIM Thailand highlighted the year 65, the opportunity to expand the exporter’s market. After showing the best form Set a new record in all dimensions, profit growing by more than 200% December 26, 2021
Sunday, December 26, 2021
EXIM Thailand reports that in 2022, Thailand’s economy is expected to grow alongside the global economy. Exporters must adapt to new trends in the Next Normal world, focusing on the economy that connects technological development. healthcare Compliance with international environmental standards and meeting specific customer needs after EXIM Thailand celebrates the success of the year 2021 and 9 months under the leadership of Dr Rak Worakitpokathorn, Managing Director. The credit balance and cumulative business volume of insurance services is expected to exceed 150 billion baht, a record since the start of operations. Generate a net profit of over 1,500 million baht, up over 200% from 2020 and the highest in 5 years.
Dr Rak Worakijpokathorn, Managing Director of the Export-Import Bank of Thailand (EXIM Thailand) revealed that in 2022, the global economy is expected to continue to grow well. The International Monetary Fund (IMF) is expected to grow 4.9%, while world trade is expected to grow 6.7%, above the 10-year average of 3.0% and 2.7%, respectively. Thailand in 2022 tends to recover sequentially. Thai exports are expected to grow 5% in line with the global economic recovery. The main support comes from advances in distribution and immunization around the world. At the same time, many Thai products still meet the needs of modern consumers well. especially food products and fruits Work from household items, household items and medical products In addition, the Regional Comprehensive Economic Partnership (RCEP) will enter into force on January 1, 2022, which means Thailand will join a big market. Covering ASEAN, Japan, South Korea, China, Australia and New Zealand, or 15 countries in total, accounting for over 30% of global purchasing power, or approximately 2,200 million people , of which Thailand already exports to RCEP member countries more than 50% of the total value of exports. As a result, around 30,000 Thai products such as fruits, automobiles and chemicals have been reduced to 0% tax, thus increasing the opportunities to enter the market for more Thai exporters.
However, there are still risk factors to watch out for, such as mutations and the new wave of COVID-19 outbreaks. that may hamper the recovery of economic activity and the purchasing power of some trading partners Exchange rates that may be more volatile after the major global central banks, notably the US Federal Reserve. Look to tighter monetary policy to fight inflation. and the shortage of raw materials, especially crisps. including production costs and transport costs which are still high This could lower the margins of Thai exporters.
The Managing Director of EXIM Thailand said that although the Thai economy in 2022 is recovering. but still expanding at a low rate and recovering more slowly than many countries due to structural issues in several ways, the covid-19 crisis is creating an impact and has a deeper wound than trading partner countries, for example , there are many Thai SME entrepreneurs. but still has a small role in the economy as most of them mainly trade in the country. The Thai economy will return to sustainable growth. When entrepreneurs stand up to adjust or modify products and businesses to add value according to new world trends under the role of a development bank This will lay the foundation for raising the Thai economy towards the sustainable innovation. Support businesses at all levels in all industries and stages of business from birth, old age, illness and death with a full range of services including:
1. “Birth”, cultivate knowledge and fill capital To improve learning and start exporting, such as credit service for red label exporters Training and counseling
2. âDonateâ capital and create market opportunities Promote business expansion for stable growth, such as credit to expand production capacity.
3. “Hurt” to help heal from the impact. in the event of a crisis, such as rehabilitation loans Hedging tool and currency volatility
4. âDieâ by taking care of companies that have difficulty in continuing to add value. or can turn into global trends such as EXIM Biz Transformation Loan
In terms of operating results during the last curve of 2021, although the Thai economy and the global economy will still be affected by the COVID-19 outbreak, EXIM Thailand is still in a position to expand its role. to financially support Thai entrepreneurs. It covers credit and insurance services. and non-financial constantly increasing. EXIM Thailand has an outstanding loan balance at the end of November 2021 of 148,849 million baht. It is predicted that by the end of 2021, the outstanding balance will reach 152,383 million baht, the highest since it opened in 28 years, growing. from the previous year to 17,155 million baht or 12.69%
For export and investment insurance services, EXIM Thailand is the only state bank that can provide such services. increase the confidence of Thai entrepreneurs in entering the global market Especially in the midst of the current economic recovery, in the first 11 months of 2021, EXIM Thailand has accumulated an insurance business volume of 149,148 million baht, and it is expected that by the end of 2021, EXIM Thailand will be able to accelerate its insurance performance to reach 150 billion baht. baht, the highest since the opening of the operation of 11.05% compared to the previous year
continued expansion of credit and insurance services Help Thai entrepreneurs adapt and operate international trade and investment in a sustainable manner. Therefore, EXIM Thailand is expected to increase the number of customers to 4,845 by the end of 2021, an increase of 13.17% from the previous year, and also serve businesses affected by COVID-19. through the issuance of various measures, including the dissemination of information and the development of knowledge skills to increase the capacities of entrepreneurs, especially entrepreneurs of SMEs, through consultation and organization online training / seminars / business matching. As of the end of November 2021, EXIM Thailand has provided financial and non-financial assistance to around 11,300 entrepreneurs for a total amount of over 70 billion baht. baht
In the epidemic situation of COVID-19 New species and economic conditions which have not fully recovered, EXIM Thailand has a policy of close risk management and monitoring, which resulted in late November 2021, the NPL ratio remained. to 3.68% and is expected by the end of 2021 to be able to handle the NPL ratio down to 2.68%, a decrease of 1.13% compared to the end of last year. and the lowest since the Tom Yum Kung crisis in 1997.
exponential business expansion With effective internal management, it is expected that by the end of 2021, EXIM Thailand will be able to achieve a net profit of up to 1,500 million baht, an increase of 211, 96% compared to the previous year, which represents a loss of over one billion baht. This is considered the highest net profit in 5 years.
In addition, in order to continually expand its role of supporting entrepreneurs, EXIM Thailand has also received the approval of the Specialized Financial Institutions Development Fund of 4,198 million baht, which is the first capital increase in 12 years. by dividing the first installment of the amount. 2,198 million baht, which EXIM Thailand already received in November 2021 and the second installment amounting to 2,000 million baht by 2022. It’s like refueling EXIM Thailand to keep boosting the economy. economy and helping entrepreneurs to be able to trade and invest both. at the national and international level, such as the target markets of CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) and new frontiers with greater potential
âThe year 2021 is the first step for EXIM Thailand which transformed and improved the organization to become the Development Bank of Thailand. meet the needs and expectations of the public and private sectors as well as customers and stakeholders In addition to managing the organization with social responsibility and sustainability. Among various challenges, this brings new opportunities for the business sector and sustainable development of Thailand and the world at large, âsaid Dr Rak.