CEO of Bangkok Bank estimates the ASEAN economy will grow 4.6% in 2024.

Bangkok, "Chatsiri" estimates that in 2024, the ASEAN economy will expand at 4.6% and is ready to hold a big seminar, AEC Business Forum 2023, bringing in world-class CEOs to share their views, in-depth look at "star industries and countries of ASEAN" to support Thai entrepreneurs penetrate regional markets

Bangkok Bank Held the annual big seminar AEC Business Forum 2023 at Bangkok Convention Center, 22nd floor, Centara Grand at Central World Hotel. This is the fifth year that it has been held and the first time since the outbreak of COVID-19. This year's event was held under the theme "ASEAN Rising : Capture New Growth" to encourage Thai businessmen to have opportunities in the region. and be able to see new opportunities from growing industrial businesses with qualified lecturers as well as leading businessmen of the ASEAN region participated in discussions and expressed their visions

Mr. Chatsiri Sophonpanich, President Bangkok Bank Public Company Limited said at the opening of the seminar that The Bank is confident in the growth potential of the ASEAN region that it will be able to grow continuously to become the world's 4th largest economy by 2030. According to the IMF, the ASEAN economy is expected to grow 4.2% in 2020. This and 4.6% next year are higher than the global average. It also has the potential to be one of the most attractive investment destinations in the world thanks to its rich natural resources. The population is over 650 million people, with a relatively high proportion of working age people. Both are in a good location with easy access to big markets like China and India. Therefore, this is a good opportunity for Thai entrepreneurs to consider investing and expanding their business to a more regional level in response to higher business opportunities as well.

In addition, the ASEAN economy is expanding following many positive factors, such as regional free trade agreements. Infrastructure investment projects and logistics connectivity As well as the development of innovation which is considered another important driving force for ASEAN. At the same time, entrepreneurs should pay attention to challenging factors. Both the export situation is slowing down. High interest rates and inflation Geopolitical issues as well as the internal limitations of each country that entrepreneurs should understand as well.

It is believed that the potential of Thai business customers You can compete or expand your market and business in this ASEAN region as well. which Bangkok Bank Ready to provide full support in terms of branch networks covering 9 out of 10 ASEAN countries. Especially strong business in the region's two largest economies. throughout Indonesia that is operated through Permata Bank, which is a subsidiary of the bank. and Thailand, which is the main area of Bangkok Bank where it has operated strongly for nearly 80 years.

For the highlights of the seminar, Mr. Liu Xueliang, General Manager Asia Pacific Sales Division, BYD Auto Industry Co., Ltd., an electric vehicle manufacturer from China. that is growing rapidly in the Thai market and many other countries Until becoming one of the world's leading manufacturers of electric cars Gave a special lecture to the growing market potential of the ASEAN region Including the direction and growth opportunities of the electric vehicle industry in this market, which will be another strategic industry in which investment from China will expand to the ASEAN region, while Mrs. Melisa Rusli, Managing Director Permata Bank Special lecture on the topic 'Indonesia Rising'

There was also a discussion on “Rising Sectors” by Mr. David Li, Executive Chairman of Huawei Technology (Thailand) Company Limited, on behalf of the rapidly growing technology industry, Dr. Songphon Deejongkit, Chairman of the Committee. Manage Siam Bioscience Company Limited, a representative from the biotechnology industry. (Biotechnology), which ASEAN is about to become the center of such industries, and Dr. Robert Yap, Executive Chairman of YCH Group, representative from the logistics industry, one of the important industries that attracts money into Asia. and the ASEAN region that is in a period of rapid expansion

There was also a discussion on the topic “Rising Countries” by Mr. John Riadi, CEO of PT. Lippo Karawaci Tbk, Mr. Johan Niven, Chairman of Ho Chi Minh City Securities Corporation, and Mr. Quoc Meng Wei. Chief Executive Officer and Managing Director of K2 Strategic Pte. Ltd., a subsidiary of the Kuok Group, delving into the details of each ASEAN country, such as Indonesia, which is the main force driving the ASEAN economy with a GDP worth over 1 trillion US dollars. It is one of the few countries that have recovered after the COVID-19 situation. Fast and strong The economy has expanded continuously at 3.7% and 5.3% over the past two years, while Vietnam is an important investment target for businesses that want to reduce risk from geopolitical issues between China and the United States. Last year, Vietnam had a large amount of money. Direct investment (Foreign Direct Investment) highest in a decade Big companies like Dell, Google, Microsoft and Apple have all moved parts of their supply chains here. And it is believed that there will be more in the future with the benefit of the "China + 1" strategy (China plus one) and to emphasize the enormous business opportunities in the region.

Source: Thai News Agency

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