Bangkok: SME D Bank joins hands with the Bank for Agriculture and Agricultural Cooperatives (BAAC) to enhance state enterprise processes, focusing on stakeholders, fostering equality, and driving sustainable growth.
According to Thai News Agency, the Small and Medium Enterprise Development Bank of Thailand (SME D Bank), represented by Mr. Pichit Mitrawong, Managing Director, and the Bank for Agriculture and Agricultural Cooperatives (BAAC), represented by Mr. Chatchai Sirilai, Manager, have signed a Memorandum of Understanding (MOU) for business cooperation between government agencies. This initiative, under the "State Enterprise Partnership Project: Focusing on Stakeholders," aims to improve the performance of state enterprises in accordance with the guidelines set by the State Enterprise Policy Commission (SEPC).
Mr. Chulaphan Amornvivat, Deputy Minister of Finance and Chairman of the BAAC, highlighted that the State Enterprise Policy Office (SEPO) has laid out criteria for evaluating the processes and management of state enterprises. These include eight indicators: good governance and leadership, strategic planning, risk management and internal control, stakeholder and customer focus, digital technology development, human capital management, knowledge and innovation management, and internal audit. These criteria serve as guidelines for state enterprises for organizational enhancement and development, contributing to sustainable growth.
State enterprises play a crucial role in implementing government policies. The collaboration between the BAAC and SME D Bank exemplifies effective cooperation between state financial institutions. This partnership, under the "State Enterprise Partnership Project: Focusing on Stakeholders," aims to enhance operations through the Core Business Enablers approach. It emphasizes knowledge sharing and development, particularly in stakeholder engagement, to ensure equal access to capital for farmers, SME entrepreneurs, and the general public. This initiative will empower farmers to transition from producers to competitive entrepreneurs, strengthening SMEs and laying a robust foundation for sustainable economic growth in Thailand.
Mr. Chulaphan further noted the importance of identifying genuine SMEs and providing them targeted assistance to support small businesses' survival and competitiveness, ultimately contributing to Thailand's economic growth.
Mr. Decha Chatuthananan, Chief Inspector-General of the Ministry of Industry and Chairman of SME D Bank, stated that the collaboration aims to enhance management efficiency, knowledge exchange, and work processes that meet stakeholders' expectations. These stakeholders include shareholders, customers, employees, business partners, competitors, and the broader community and environment.