EECO and KBank signed the MOU to develop EEC
The Eastern Economic Corridor Office of Thailand (EECO) and KASIKORNBANK (KBank) have signed a memorandum of understanding (MOU) to support the development of the fundraising venue and financial services in the Eastern Economic Corridor (EEC). This initiative aims to bolster Thailand’s competitiveness while creating a green investment ecosystem in alignment with sustainable economic development.
Mr. Chula Sukmanop, Secretary-General of the Eastern Economic Corridor Office of Thailand (EECO), said, “The government has a major policy of promoting the ‘New Economy’ development, with a focus on environmental issues for sustainability. It has also promoted investment in high-tech industries, especially green businesses in the EEC, for enhanced efficiency. To this end, the EECO has signed an MOU with KBank in a bid to support investors, entrepreneurs and the general public to gain improved access to funding sources for financial transactions. This endeavor will be conducive to new investment and expansion of existing businesses located in the EEC, with emphasis placed on entrepreneurs in five target industries, including medical and healthcare, digital, electric vehicles (EVs), bio-circular-green (BCG) and services. Additionally, those in other businesses and startups with related upstream and downstream operations will be able to gain access to financial products, investment support and diverse fundraising venues. This collaboration aims to create opportunities for the development of fundraising venue within the EEC, thus spurring financial services that focus on the promotion of green businesses, and creation of a green ecosystem to meet the goal of sustainable economic development.”
Under the cooperation, the EECO will work with KBank and coordinate with both public and private sector agencies, including Thai and international entrepreneurs, to create a flexible, convenient and cost-effective financial and investment environment. This collaboration also aims to facilitate the dissemination of information and news regarding the advancements of projects related to the development of a financial environment, innovations, technology systems, and systems that facilitate fundraising of entrepreneurs within the EEC, which will help enhance the capabilities and competitiveness of the Thai economy, and promote comprehensive investment in green businesses.
Mr. Karin Boonlertvanich, Executive Vice President of KBank, added that KBank is determined to drive its business operations based on the strategy of being a “Bank of Sustainability” in Southeast Asia, while being aware of its role as an upstream player in the economic system. To this end, the Bank has fostered cooperation within the ecosystem to support customers and businesses in various industries in the transition to a sustainable economy. The collaboration with the EECO is one of KBank’s initiatives aimed at promoting technological infrastructure development in support of comprehensive financial services such as fundraising and digital securities trading. Focus is also on supporting entrepreneurs with innovations and an interest in raising funds in the form of project finance in digital assets through trading at the Thai Digital Assets Exchange. Entrepreneurs with potential and readiness will be able to access funding sources, raise funds, access banking services, and conduct financial transactions conveniently at a reasonable cost, while engaging in relevant development activities. These efforts facilitate investors, entrepreneurs, and the general public in the EEC in accessing a variety of fundraising channels and meeting their business needs.
