Bangkok Bank supports ASEAN businesses to seize trade and investment opportunities and grow together in the global supply chain with a focus on the economic challenges in the Year of the Snake: 'Geopolitical Conflict-Sustainability-GenAI'. The Bank will continue to build a network of in-depth knowledge and experience while reinforcing its position as a 'leading regional bank'.
Bangkok Bank supports ASEAN businesses to cooperate at the local, regional and global level in response to the challenges that will arise in the digital era as ASEAN becomes an important region in the global supply chain by turning an era of change into an era of growth opportunities. The three major issues to watch are: "Geopolitical Conflict-Global Warming and Sustainability-GenAI" which will present economic challenges in the Year of Snake. Backed by its strong experience as a 'leading regional bank, Bangkok Bank will continue building a knowledge network for customers to achieve sustainable growth.
Bangkok Bank President Chartsiri Sophonpanich gave a speech at the opening of the AEC Business Forum 2025 hosted by Bangkok Bank, the "leading regional Bank", under the topic of ASEAN in the Age of Disruption. He said that ASEAN needs to build cooperation at the local, regional and global level as this is the key for rising to the challenges and opportunities of the modern era, particularly in ASEAN, which has high growth potential due to the growth in the middle class which is fueling greater demand for goods and services, education, healthcare, and tourism as well as the movement of people in both education and trade throughout the region. In addition, ASEAN is making large-scale infrastructure investments such as roads, railways, ports, energy and digital infrastructure. These will help change the economic landscape, reduce costs and enhance cross-economic transportation while empowering the region to play an important role in the global supply chain.
"Meanwhile in Thailand a high-speed train line is being built that will link Bangkok with the Eastern seaboard and another to link Thailand with Laos and China which are due for completion over the next five years. In addition, there is significant growth in new industries such as bio and green industries, electric vehicles, and advanced electronics that has helped push investment promotion requests to the BOI in the past year to a 10 year high with total investment value of more than 1.3 trillion baht. Therefore, ASEAN must be ready to turn the challenges of this era of change into opportunities for sustainable development in the future,"
Mr. Chartsiri said that: apart from ASEAN issues, the world is faces many different aspects of change, led by the recent geopolitical conflicts such as the trade war between the US and China, conflict between Russia and Ukraine, tensions in the Middle East and the US policy direction under the leadership of President Donald Trump who has promised an "America First" trade policy, bringing production back to the US, and increasing import tariffs, especially from China. This will have a direct impact on ASEAN, where we have seen an acceleration in the relocation of production bases and deglobalization in the last five years.
Climate change, stricter ESG regulations and the need to transition to sustainability are also key factors that will determine the future and direction of the economy. In the past year Thailand faced severe flooding many times, especially in the second half of the year, which has affected people's lives, homes, property, and businesses at large. Similar to many countries, changes of climate and environmental issues have severely affected agricultural productivity and lifestyles. In addition, Thailand and many other ASEAN countries have set Net Zero targets, which come with stricter ESG compliance. Considerable investment will be needed to adjust businesses to comply with these regulations. Meanwhile, the global move towards sustainability will change the way of life in many aspects, such as consumption of energy, products and services as well as the development of technologies that meet the needs of environment and sustainability.
Another important issue that cannot be overlooked is the technological revolution that will accelerate with the adoption of Generative AI. This will change the way we work and do business in many dimensions, along with the expectations of customers and employees in terms of lifestyle, work and consumption. It will also increase the challenges of a highly competitive global labor market. Humans must work even smarter to get the most out of these changes.
"Although the current business world for ASEAN is full of challenges, the region still has many important advantages, including strategic location, abundance of natural resources, skilled human resources, competitive labor costs, a diverse market and a very strong manufacturing sector. ASEAN is moving forward to define its role on the world stage as four ASEAN member countries, namely Thailand, Indonesia, Malaysia, and Vietnam, became official partners of the BRICS on January 1, 2025 and since then Indonesia has become a full member. These factors make ASEAN an attractive destination for businesses looking to effectively mitigate geopolitical risks and supply chain diversification", said Mr. Chartsiri.
Bangkok Bank, the 7th largest bank in the ASEAN region and the largest commercial bank in Thailand in terms of total assets, is committed to being a "trusted partner and reliable close friend", supporting business customers with a wide range of comprehensive financial products through a nationwide branch network, as well as the largest overseas branch network of 25 branches in 13 economies in addition to about 200 Permata Bank branches in Indonesia, staffed by personnel with strong knowledge, experience and expertise in each business field. This strengthens the position of Bangkok Bank as a "leading regional bank", helping to meet customer needs and walk alongside them to grow together in a sustainable manner.
The AEC Business Forum 2025: "ASEAN in the Age of Disruption" is the sixth such forum held by the Bank for business leaders, industry experts, and leading businesses in ASEAN to share their visions and knowledge, and timely insights that can guide critical strategies for today's businesses, including practices for dealing with risks and challenges in the midst of change, as well as strengthening business relationships, and increasing potential and competitiveness. This brings important trade and investment opportunities within the ASEAN market while reinforcing the Bank's role as a "leading regional bank" with its commitment to being a "trusted partner and reliable close friend" growing alongside customers, people, and the country at large for more than 80 years.