Dr. Thaweelap Rittapirom, Director and President of the Bank, revealed that "The Northeastern region, also known as 'Isaan,' is the largest geographical region, covering approximately one-third of Thailand's land area. It is also the most populous region in the country, with a population of 22 million people, accounting for nearly one-third of Thailand's population. This makes the Isaan region of utmost importance to Thailand.
Over the past few decades, the economy of the Isaan region has experienced significant expansion when compared to other regions. This rapid economic growth has led to a notable reduction in the proportion of low-income individuals in the Isaan region. It has also resulted in a shift in the economic structure of the region from predominantly agriculture, such as farming and rice cultivation, towards a more diversified non-agricultural economy. The majority of the wealth in the Isaan region is concentrated in the 'Big Four of Isaan,' which includes Nakhon Ratchasima, Khon Kaen, Ubon Ratchathani, and Udon Thani provinces. These provinces have played a pivotal role in driving the economic transformation of the Isaan region.
Given the favorable comparisons of the Isaan region, including its abundant labor force, proximity to neighboring countries like Laos and Cambodia, which are conducive to trade and investment along the border, and the overall economic expansion, the Bank places significant importance on this region. The Bank recognizes the region's agricultural resources, the advancement of agricultural and food industries, as well as the growth of the service industry. It also acknowledges the development of high-speed rail networks, future regional policies, and its choice to visit customers in Khon Kaen province as part of an effort to listen to their needs, gather feedback, and exchange experiences. This is done to continually enhance and improve the Bank's services to best meet customer requirements.
The opportunity to meet with key business figures in this event has provided a valuable chance to get to know these influential entrepreneurs, who are both clients of the Bank and successful individuals in the region. Each of them plays a significant role in the development of the Thai economy in the Isaan region.
For example:
- North East Rubber Public Company Limited, a major rubber producer for export, primarily uses local resources and focuses on local employment in Isaan. They have policies and management practices that prioritize the sustainability of local communities and the environment.
- Silver Farm Center Company Limited, a business involved in exporting processed Halal chicken products, maintains high standards in factory management and products, meeting Halal standards both in Thailand and Malaysia.
- Isaan Piman Group, a large real estate business that has been established alongside Khon Kaen for over 40 years.
- Rungruethai Tapioca Company Limited, a prominent trader and exporter of agricultural products, ranked among the top in the country.
- 3T Property Company Limited, another real estate business operating under the high-quality T Space brand.
Additionally, the event also welcomed the Jieng Group, renowned entrepreneurs in the upper northeastern region, and Phantawee Mall, a comprehensive agricultural product and equipment supplier with branches covering every province in the Isaan region.
The event welcomed prominent business figures, all of whom have the potential to contribute to the growth and development of the economy in the Isaan region and Thailand as a whole. During the event, they engaged in discussions and exchanged ideas regarding the development and growth of Isaan, leveraging the region's agricultural foundation for sustainable prosperity.
ibank has played a role in supporting the businesses of the Isaan community and is committed to being there for them in all economic conditions. The Bank's branches are strategically located in the main provinces of the Isaan region. One distinctive feature of ibank is that it is the only financial institution that conducts its operations in strict accordance with Islamic principles, incorporating both Shariah (Islamic law) and ESG (Environmental, Social, and Governance) principles into its management seamlessly. Additionally, it has partners who can provide comprehensive consultancy services for Halal businesses, from the standard level to halalan toyyiban assurance.
For this special dinner event, the Bank chose the Adlib Hotel in Khon Kaen, a well-known hotel in the heart of Khon Kaen with modern architecture and a strong commitment to environmental sustainability. The hotel utilizes solar energy, recycles materials, and practices sustainability. The dinner featured a special Italian-style Halal menu prepared by experienced chefs who have previously overseen Halal kitchens in five-star hotels in Singapore, reflecting the competitive nature of the Halal industry and aligning with the theme of sustainable Halal development." Dr. Thaweelap concluded by expressing the Bank's readiness to support Halal businesses for entrepreneurs across all regions of Thailand.
Source: Islamic Bank of Thailand
