FPO, SME Bank to make feasibility study of a special bank

BANGKOK, 18 January 2011 (NNT) – Finance Minister Korn Chatikavanij has tasked the Fiscal Policy Office (FPO) and Small and Medium Enterprises Development Bank (SME Bank) to make feasibility study of a special bank and other ways to assist tourism entrepreneurs.

Speaking at the Government House on Tuesday, Mr Korn stated that tourism entrepreneurs from the southern province of Surat Thani visited him and proposed him that a special bank for tourism be established since it usually took long time for tourism entrepreneurs to regain their investment.

As a response, the minister hence assigned the FPO to study appropriate directions for the establishment of the bank while SME Bank was ordered to see if it can provide loans for the tourism sector or other groups in response to demands of the private sector.

Mr Korn admitted that establishing a new bank would require a sizeable capital; therefore, it must be assessed again whether it would be more beneficial for existing potential banks to respond to demands of tourism entrepreneurs.

The Minister added that opinions from entrepreneurs in other sectors should also be acknowledged as part of the consideration of the special bank for tourism proposed by tourism entrepreneurs.