FRIDAY, March 29, 2024
nationthailand

Krungsri building EEC investment pipeline from Japan

Krungsri building EEC investment pipeline from Japan

Krungsri (Bank of Ayudhya) is focusing on Japanese investment in the Eastern Economic Corridor as a key driver of its business growth over the next few years.

The bank on Thursday said its membership of the Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group, gives it a competitive edge to promote new investment from Japan.

Said Yoshiyuki Horio, Krungsri head of Japanese Corporate and Multinational Banking (JPC/MNC):

“To enhance our leadership in the market, Krungsri JPC/MNC has set up business promotion initiatives via both assets and liabilities ends as well as promoting FX and derivative transaction opportunities, and trade and settlement transactions. While we continuously strengthen relationships with customers to be their main operating bank, we maximise the cross segment collaboration within Krungsri as well as leverage synergies with MUFG and other partner banks in the region focusing on operational excellence, data intelligence and professional skill enhancement.”

Krungsri JPC/MNC also underlined its measures to help businesses through the Covid-19 crisis, including additional credit facilities to support working capital and liquidity, providing market and industry outlook through web seminars, and creating new business opportunities for customers through business matching activities.

According to Thailand’s Board of Investment (BOI), the number of investment projects applying for BOI incentive and privileges in the first half of 2020 increased 7 per cent from the same period last year to 754 projects. Thailand is a major production base for Japanese investment, especially in the automotive industry. Japanese investors ranked No 1 in applying for BOI incentives in the first half of 2020.

“In supporting foreign investment in Thailand, we will focus on the Eastern Economic Corridor [EEC] project as a key growth driver for JPC/MNC Banking over the next few years,” Horio added.

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