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SVB collapse unlikely to affect Thailand - FM


Thai Finance Minister Arkhom Termpittayapaisith said that the collapse of Silicon Valley Bank (SVB) is unlikely to affect Thailand, but said the government is closely monitoring the development. He said Thailand did not have any transactions with SVB or the now-closed Signature Bank in the US although he still awaits information from the Thai central bank on the matter. The Bank of Thailand, he added, has reassured the public that the country's financial system remains strong and retains the confidence of investors. Sarun Sutuntivorakoon, president of the Thai Venture Capital Association, said the collapse of Silicon Valley Bank would have no impact on Thailand's startup and investment sentiment as local startups had nothing to do with fundraising there.

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