The Ministry of Finance by EXIM Thailand has synergized with BoT, FTI, TNSC and TBS in organizing TOP X Executive Program Class 2. The Program aims to develop exceptional international business entrepreneurs with the potential to penetrate New Frontier markets with provision of valuable insights and training on strategy formulation and implementation for effective global business management in the evolving era, and guidance on eco-friendly business practices for sustainable development. Participants also gain in- depth knowledge about New Frontiers such as the Middle East and the CLMV countries (Cambodia, Lao PDR, Myanmar and Vietnam).

The program includes workshops for business matching and facilitates practical export activities. Successful participants can apply for EXIM Thailand's credit facility, designed specifically for export-related and green businesses, at the lowest interest rate of 4.25% per annum in the first year. Additionally, through the EXIM for Small Biz program, they will receive free 1-buyer insurance coverage with a premium of 1,800 baht to mitigate the risk of non-payment by foreign buyers.

Mr. Arkhom Termpittayapaisith, Minister of Finance, presided over the opening ceremony of TOP X Executive Program Class 2, a short-term course aimed at nurturing the potential of global trade leaders, and was welcomed by Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), Dr. Chaichan Charoensuk, Chairman of Thai National Shippers’ Council (TNSC), Mr. Kraisin Vongsurakrai, Deputy Secretary General, Board of Trade of Thailand (BoT), Mr. Chartchai Panichewa, Vice Chairman of the Federation of Thai Industries (FTI), and Assoc. Prof. Dr. Somchai Supattarakul, Dean of Thammasat Business School (TBS), at Novotel Bangkok Sukhumvit 20 Hotel on July 13, 2023.

The Minister of Finance said that this integrated expertise collaboration of the country' s prominent public and private agencies would generate a powerful synergy to develop Thai entrepreneurs with dependable capabilities on the back of essential knowledge, practical skills, and reliable capabilities needed for success. Further, it seeks to create broader opportunities for establishing dynamic business networks through strategic alliances and global trade partnerships, and allow for greater access to comprehensive financial resources and tools, ensuring entrepreneurs have the necessary support for their ventures. The Ministry of Finance is fully prepared to support the development of connectivity across economic, fiscal and monetary, and social and environmental dimensions, with business sectors performing as the key mechanism to drive sustainable development based on the strong economy from the grassroots, resilience in the face of global uncertainties, and fully- armed preparedness for and immunity to the rapidly and ever-changing world of tomorrow.

Dr. Rak Vorrakitpokatorn, EXIM Thailand President, said that out of 50 trainees who successfully completed the TOP X Executive Program Class 1, a collaborative initiative involving EXIM Thailand and the leading business and educational institutions, more than 50 business matching pairs have been dealt successfully, involving the extended international trade and investment worth more than 1,000 million baht.

Building on this success, in 2023 EXIM Thailand has jointly with BoT, FTI, TNSC and TBS organized TOP X Executive Program Class 2 under the theme “Exporter Network: Unlock the Global Growth,” featuring an intensive training and workshop course that includes both domestic and international business trips with a specific focus on penetrating emerging markets, such as Saudi Arabia which is projected to have an average GDP growth rate of 4% per year from 2024 to 2028, according to the International Monetary Fund (IMF).

Saudi Arabia is also regarded as a gateway to the Middle East, with a consumer base of approximately 480 million individuals who possess significant purchasing power. This presents bright prospects for Thailand's international trade and investment, particularly in the export of halal food products.

The training program highlights practical formulation of export penetration strategies, with EXIM Thailand and its alliance agencies serving as business partners, to bridge gaps of knowledge gaps, business opportunities and capital for Thai SMEs, enabling them to thrive as energetic economic warriors in the world markets, new frontiers in particular.

The program is expected to create business matching deals in these new frontiers, resulting in trade and investment valued at over 1,000 million baht. Thai entrepreneurs who are members of BoT, FTI and TNSC can apply for a credit facility from EXIM Thailand which can be used as working capital and liquidity funding for their eco-friendly businesses, with the lowest interest rate of 4.25% per annum in the first year in conjunction with export insurance policy under EXIM for Small Biz program. The insurance premium for this program is waived, providing a cost-saving benefit of 1,800 baht for a 1-buyer insurance policy. The availability period is from now until December 31, 2023.