KBank and SMRJ to support Japanese SMEs’ investment in Thailand and ASEAN

           KASIKORNBANK and the Organization for Small & Medium Enterprises and Regional Innovation, Japan (SMRJ), are promoting more Japanese investment in Thailand and ASEAN. The move is aimed at strengthening economic cooperation, given that Japan is encouraging its more than 10,000 SMEs to expand abroad. Approximately 80-100 SMEs from Japan are expected to take that step under this agreement, with more than 5 billion Baht of total investment.
          According to KASIKORNBANK Chairman of the Board Mr. Banthoon Lamsam, KBank has signed a collaborative agreement with SMRJ, a state agency under supervision of Japan’s Ministry of Economy, Trade and Industry (METI), to give support and facilitate provision of Thai and ASEAN economic and investment information to Japanese entrepreneurs. Activities under this cooperation will include seminars to disseminate business knowledge, business matching at home and abroad to create international business networks, and field study to seek relevant investment and business guidance. These endeavors are intended to boost Thai-Japanese trade, provide advice to Japanese corporate customers with operations in Thailand, promote economic and trade ties between the two countries, and enhance business management of Thai SMEs, which will also learn technology management from Japanese companies. Moreover, these efforts will present a greater opportunity for business joint ventures. At least 80-100 Japanese firms are projected to invest in Thailand under this program, with estimated investments of 5 billion Baht.
          Mr. Banthoon added that SMEs play a crucial role in the Japanese market, representing as many as 99 percent of all companies in Japan in terms of numbers, and creating more than two-thirds of the nation’s jobs. In the recent era of economic slowdown in Japan, falling domestic spending power has forced SMEs there to find new markets and manufacturers elsewhere. The Japanese authorities are currently promoting SME expansion overseas, and expect more than 10,000 Japanese SMEs to make such a move within 2017.
          KBank has always recognized the significance of Japanese business operators, preparing staff proficient in Japanese language and culture to serve Japanese customers in Thailand for their convenience. In addition, Japanese-friendly branches, call center, ATMs and documents are made available for them, and have satisfied their needs accordingly. To date, the Bank has already created partnerships with at least 29 Japanese financial institutions, which are major service providers for entrepreneurs in Japan. This agreement will, therefore, expand KBank’s services with greater efficiency for Japanese investors in Thailand. KBank’s market share in the Japanese company market here totals 13 percent, or approximately 3,000 companies, and is expected to surge to 16 percent within next year, with an aim of becoming the foremost Thai bank in Japanese customers’ minds.
          According to Mr. Toshihiko Watanabe, Executive Director of SMRJ, Thailand is one of the target countries promoted by the Japanese government for their SME investments. As the ASEAN business hub, Thailand’s advantages include relatively more efficient infrastructures and better location than peers. The cooperation with KBank is expected to create the utmost benefits for Japanese investments in Thailand and ASEAN. The Bank has earned a strong reputation in SME services, with the top market share in this market, while also placing emphasis on Japanese investors’ operations in Thailand by providing both financial services and business information. KBank, with solid financial status and understanding of Japanese business operators, will provide convenience and confidence for Japanese entrepreneurs in Thailand and the region.