Krungsri (Bank of Ayudhya PCL) enhanced business potential for their commercial customers with the virtual seminar, Krungsri Business Talk, under the topic of "Managing a Business in the VUCA World", keeping an eye on the future of businesses, under the ever-changing global situations. This seminar was held exclusively for Krungsri's commercial customers.
On this occasion, Mr. Yoshiyuki Horio, Krungsri Head of JPC/MNC Banking made the opening remark for the event. The distinguished guest speakers included Mr. Don Nakornthab, Ph.D., Senior Director, Financial Stability Department, Bank of Thailand, Mr. Wiwat Hemmondharop, Vice Chairman of the Federation of Thai Industries and Chairman of the Board of Executive Director, Panjawattana Plastic PCL and Miss Roong Sanguanruang, Krungsri Senior Vice President, Global Markets Division. The speakers shared insights on global economic direction, challenges from economic changes, direction on future industrial promotion along with national and global trends on interest rates and currencies.
Mr. Don Nakornthab, Ph.D., Senior Director, Financial Stability Department, Bank of Thailand shared his viewpoints that, Thai economy is facing 4 key challenges; the first one is global economic recession particularly due to the economic recessions of the 3 economic giants; Europe, China and the USA. The second challenge is geopolitical crises, both Russia-Ukraine war and the conflict between China and Taiwan - these can affect the global supply chain. The third challenge is the inflation rate hikes and the last one is K-Shaped Recovery of the economy which can support fast recovery of some economic groups, whereas some groups might face "slow and worsening recovery". To ensure the long-term economic recovery, the EEC will be the crucial answer as it has the widest coverage of 5G network, hence EEC is attracting digital businesses globally. In term of EV, EEC also answers the needs of EV investment as it is home for the largest battery production hub in ASEAN and it is the venue for EV test course due to its ample supplies of charging stations. There will also be key innovation centers in the EEC area including EECi, or the Center for The Eastern Economic Corridor of Innovation focusing on the knowledge transfer for agriculture/ digital/ robotics/ drones/ batteries. Also, EECd or DATA Center and EECh or Digital Hospital including other infrastructure developments such as Laem Chabang Port, high speed electric trains and U-Tapoa International Airport.
Mr. Wiwat Hemmondharop, Vice Chairman of the Federation of Thai Industries (FTI) and Chairman of the Board of Executive Director, Panjawattana Plastic PCL., shared his viewpoints on the development of Thai industrial sector. FTI has been trying to connect agricultural developments to that of industries to encourage equal share of GDP and sustainability. The growth should be shared by everyone with higher opportunities made for Thailand. Exports also increase with food export is expected to be 1.2-1.3 trillion Baht, or equivalent to 8-12% growth. Investors are also on the rise from Europe and Russia with an opportunity to restructure the economy, such as renewable energy, supply chain security, food security and agricultural promotion with more use of alternative energy. Thailand has 12 target industries; divided into the First S-curve industries which are modern automotive industry (EV) with the target of 30% of total automobiles to be EVs by 2030, intelligent electronics, affluent tourism and health tourism, agriculture, biochemicals and food processing. The latter part is the new S-Curve industries which are robotics stemming from the modern automotive industry, the use of androids which have their own memories and able to drive, aviation and logistics, biofuel and biochemicals, digital especially e-commerce that have added value during Covid-19, integrated medicine with higher use of telemedicine and possibility to use robots in treatments, national defense, people development and education. Meanwhile, industries are gearing towards BCG Model with the use of technology and innovation- led industries. Supply chain security is seen to have an important role with the use of alternative energy and prepared to tackle climate change issues. At present, FTI is now paving the way towards smart agricultural industry which is an adaptation of modern farming?combining smart farming and smart industry to do the farming based on the global demands. This could help add values and contribute to Thailand's growth on the new platform. SMEs can thus obtain more benefits and Thailand's GDP is united, with value added to the agricultural industry.
This virtual seminar is a part of virtual seminar series under Krungsri Business Empowerment for Krungsri's commercial customers, to help enhance the business potential of customers for sustainable growth. These seminars aim to share insights from leading experts, to inspire, and leverage business opportunities for Krungsri's customers. This virtual seminar is also available for viewing on Krungsri Business Empowerment Facebook and www.krungsri.com