EXIM Thailand Renders Financial Support of 500 Million Baht
Mr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), and Mr. Pipat Paniangvait, Chairman of the Executive Board and CEO of Thai President Foods Plc. (TFMAMA), jointly signed an EXIM Thailand credit facility agreement worth 500 million baht in the form of a revolving credit at TFMAMA Head Office on December 22, 2022, which was witnessed by Mr. Pun Paniangvait, Manager of TFMAMA President’s Office, and Mr. Wasan Boonsampankit, Manager of TFMAMA Finance and Investment Department.
The credit facility aims to enhance TFMAMA’s liquidity and potential for manufacturing of food products to serve its expansion both at home and abroad, particularly in such new frontiers as the CLMV (Cambodia, Lao PDR, Myanmar and Vietnam).
EXIM Thailand President revealed that EXIM Thailand has provided this working capital support for TFMAMA as the Bank has envisaged Thai entrepreneurs’ high potential for building food security for Thailand and abroad especially in new markets like African countries and new frontiers. TFMAMA has been well recognized for its more than 50 years of experience in and earning of acceptance for its development of Thai food products both domestically and overseas. This liquidity and production potential enhancement support would ensure TFMAMA’s greater capabilities to expand production capacity and innovate products that would better fulfill demand of consumers of the new era both in Thailand and beyond. It would also serve Thailand’s expansion of food export to a greater extent in new markets with bright prospects and high demand for Thai food products.
“EXIM Thailand is ready to bring Thai entrepreneurs of all sizes and all businesses along with Thai public and private sectors to move toward the Next Normal world based on our tagline, ‘One Step Ahead for All Development.’ It is our determination to empower Thai entrepreneurs with good potential so that they would be able to penetrate markets beyond Thailand, paving the way for Thai entrepreneurs throughout the supply chain and getting Thai economic warriors fully armed on the global front. This would subsequently help drive Thai export growth and sustainable development of Thailand and ASEAN at large,” added Mr. Rak.
