{
  "id": 18233845,
  "title": "Banks eager to fuel international expansion of local firms",
  "url": "https://urgent.news/2026/11/04/banks-eager-to-fuel-international-expansion-of-local-firms",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-04T18:00:00.000Z",
  "source": {
    "name": "Bangkok Post Business",
    "slug": "bangkok-post-business",
    "url": "https://www.bangkokpost.com/business/general/3348836/banks-eager-to-fuel-international-expansion-of-local-firms"
  },
  "original_language": "en",
  "account": "The chairman of the Thai Bankers Association, Payong Srivanich, highlighted the banking sector's eagerness to support local businesses in their international expansion efforts at the Economic Forum 2026: Reinvent Thailand, hosted by The Standard. He emphasized that for Thailand to reach its full economic potential, the country must develop national champions to enhance its global competitiveness. Domestic banks can play a crucial role in assisting Thai businesses in their overseas expansion and strengthening global supply chain links, according to Mr. Payong. Thailand, the second-largest economy in Southeast Asia, ranks fourth in terms of national champions, trailing Indonesia, Singapore, and Vietnam. Despite strong regional and domestic foreign direct investment growth, local businesses should spearhead investment projects to generate broader economic benefits for domestic suppliers and downstream industries. To achieve its GDP growth potential, stronger outbound investment by large Thai corporations is essential, as it would boost the country's economic growth while supporting smaller businesses across supply chains. To develop local businesses into national champions, the government should ease regulatory restrictions, especially those related to cross-border operations and mergers and acquisitions. The Reinvent Thailand white paper, a collaboration between public and private sectors, recommends Thailand focus on seven strategic industries: agriculture and food processing, automotive, retail and trade, smart electronics, medical and wellness, tourism, and the creative economy. Banks are also enhancing their cybersecurity measures due to growing global cyberthreats concerns, with the Thailand Banking Sector Computer Emergency Response Team ensuring the banking industry remains prepared to respond to emerging risks. Public trust remains a cornerstone of the banking industry, necessitating a multi-layered security framework to protect against cyber threats.",
  "summary": "The banking sector is ready to support local businesses in expanding internationally to strengthen their competitiveness, helping to drive the country's economic growth towards its full potential, says the chairman of the Thai Bankers' Association (TBA).",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}