CEO of CP Group: Thailand Set to Emerge as the "Switzerland of ASEAN"
At the Forbes Global CEO Conference in Bangkok, Suphachai Chearavanont, CEO of Charoen Pokphand (CP) Group, emphasized Thailand's potential to emerge as the "Switzerland of ASEAN," drawing global investment by capitalizing on its neutral geopolitical position and strategic location.
Suphachai highlighted Thailand's role as a regional center for finance and digital investment, backed by forward-thinking policies on foreign land ownership, business friendliness, and talent acquisition. He expressed an optimistic view of Thailand's business environment, pointing to ongoing digital transformation efforts across business, energy, and industrial sectors.
He forecasted an increase in foreign tourism to 40 million by 2025, which would benefit the retail sector.
Moreover, the China Plus One strategy, which aims to diversify supply chains beyond China, offers new opportunities for Thailand, he observed. Suphachai emphasized Thailand's diplomatic balance between the US and China as a strength in attracting global investment.
CP Group's investments in 21 countries highlight its global expansion ambitions. In the real estate sector, Panote Sirivadhanabhakdi, CEO of Frasers Property, highlighted the rise of foreign capital flowing into Southeast Asia, indicating strong investment prospects.
Thailand, with its robust tourism and manufacturing sectors, serves as a regional gateway that gains from these trends and the China Plus One strategy.
Panote commended Bangkok's growth potential, fueled by policies that promote regional cooperation. He highlighted the shift towards sustainability and innovation, illustrated by Frasers Property's One Bangkok project, the first in Thailand to achieve LEED Platinum certification.
Both leaders expressed confidence in Thailand's strategic role as a key player in the region, driving economic growth and integration amid global challenges.