Charoen Pokphand Foods Public Company Limited (CP Foods) announces an extension of the “Faster Payment” program to increase financial liquidity for SMEs partners by shorten credit term to within 30 days until the end of 2022. The aim is to help SME partners ready for post-covid recovery.
Ms. Thidarat Dechayonbuncha, senior vice president of CP Foods, said that the company recognized the opportunity and challenges of the industry in the post-covid era. Therefore, CP Foods continues to extend the period of the Faster Payment program to the end of 2022.
She added that the credit term is now reducing to within 30 days to support SME partners to be financially healthy and enable them to operate business despite the rising production costs from global supply shortage. Their healthy financial status is critical to the food production chain and food security of people across the world.
“A 30-day credit term program for SME partners have been implemented for 21 consecutive months since October 2020. This program has supported Thai SMEs to continue business in uncertain situations. They are crucial for driver for the continuity of food production and ensure food security for Thai people,” said Thidarat.
She added that there are 6,000 partners benefited from the program. Moreover, the company also supports and promotes the development of the potential of SME partners in business operations. CP Foods helps elevate the work of SME entrepreneurs in accordance with international standards, which creates opportunities in international market growth.