Thai SMEs visit Japanese firms aimed at elderly market

business September 13, 2017 15:48

By The Nation

Krungsri has taken more than 30 Thai SME entrepreneurs to Osaka, Japan to help them get a better understanding of business opportunities related to Thailand’s transition into an afeing society.

They were participants in a programme called “Krungsri Business Journey: Life Care Business Opportunities”. 

Krungsri joined hands with Bank of Tokyo Mitsubishi UFG, a member of Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group, to facilitate the trip to several ageing-related businesses.

The project also gained support from the Thai Trade Centre in Osaka and the Osaka Prefectural Government.

Pornsanong Tuchinda, Krungsri head of commercial banking, said, “The activity received overwhelmingly positive response from Thai entrepreneurs because Thailand is experiencing a demographic change.

“In 2018, the number of elderly will exceed the number of children. That will drive demand for goods and services for senior citizens, while business owners have to adapt to the change.

“During the trip, Thai entrepreneurs attended a special lecture given by experts from a research company under MUFG, who shared insights about the overall picture of the elderly care business in Asia, Japan and Thailand.

“With MUFG’s strong network, our group was provided with access to several ageing businesses in Osaka and nearby cities and most of them are normally not open to outsiders.”

He said the Thai entrepreneurs “fully reaped the benefits of studying and exploring opportunities in various geriatric businesses”, including those making equipment and other products related to the elderly and their caregivers.