Mitihoon – Krungsri (Bank of Ayudhya PCL) held its flagship event for business clients, the Krungsri Business Forum 2024, under the theme “Business Titans: Breaking the Ground to Win.” The forum featured senior executives from leading companies and experts in finance, banking, and ESG who shared insights on business, finance, and societal issues. Participants discussed strategies to overcome challenges and break limits to achieve greater success, like business titans in a competitive landscape.
The seminar was honored by Mr. Varawut Silpa-archa, Minister of Social Development and Human Security, who spoke on “Scaling Societal Strategies for Nation Building.” He projected Thailand as a fully developed aged society and emphasized that the role of Titans needs not exist solely in the business realm; they can also be “Titans for Sustainability,” ensuring that no one is left behind—especially the senior citizens, who have made significant contributions to the country. Implementing appropriate policies for senior citizens can yield various benefits, leveraging their experience in nation-building while promoting their overall well-being.
Mr. Kenichi Yamato, Krungsri President and Chief Executive Officer, shared valuable insights on navigating business in an era of global change. He underscored that true business leaders, or business titans, emerge during challenging times. Becoming a business leader involves not only adapting one’s own business but also driving change across the entire industry. Given ongoing uncertainties—economic fluctuations, competition, climate change, and digital transformation—these challenges reshape modern business practices. As a trusted partner to business customers, Krungsri supports its clients in adapting and transforming these challenges into opportunities, aiming to create a new chapter for businesses that balances profit, responsibility, and sustainability.
Regarding the Thai economic landscape, Mr. Krislert Samphantharak, Advisor of the Puey Ungphakorn Institute for Economic Research at Bank of Thailand, raised a critical question: how can Thailand move forward to ensure growth and inclusivity? He emphasized the need for a new growth model, focusing on 1) investing in future-oriented businesses, 2) prioritizing value creation through quality, and 3) driving local growth through market integration, partnerships, and technology to achieve economies of scale.
Regarding the role of the financial sector, Mr. Prakob Phiencharoen, Krungsri Head of Corporate and Investment Banking Group, and Mr. Anouj Mehta, Country Director of ADB Thailand Resident Mission, discussed ‘Navigating ESG Challenges: How the Financial Sector Drives Sustainable Change.’ The executives stated that both organizations are dedicated to supporting businesses at all levels by providing insights into new business models and practices, as well as crucial funding for ESG transitions in Thailand. They emphasized that understanding and taking agile action is key to creating significant business opportunities to access new markets.
In the real estate sector, Asst. Prof. Dr. Kessara Thanyalakphak, Managing Director of SENA Development Public Company Limited, shared insights on ‘Real Estate of the Future: Redefining Homes.’ She highlighted the current economic and social context, addressing issues such as household debt and the inadequacy and high cost of public transportation. These challenges have created a mismatch between the demand for affordable housing and a supply dominated by homes priced over 3-million-baht, leading younger generations to delay home purchases in favor of renting. She also proposed redefining the housing industry with alternatives such as the ‘Rent to Own.’
Mr. Chaolvalit Rattanakornkrisri, Deputy Managing Director of Enterprise Solution at Microsoft (Thailand) Co., Ltd., and Mr. Tul Roteseree, Krungsri Head of Enterprise Data and Analytics Group, discussed AI strategies for business leadership. They highlighted that AI enables businesses to ‘Do Less, Get More.’ It enhances productivity and creativity for employees and companies while assisting SMEs facing challenges related to the cost of services in accessing technology. The executives emphasized that ‘AI is not here to replace us; rather, those who use AI will replace everyone.’
In addition, prominent SME entrepreneurs, led by Mr. Polpat Asavaprapha, Founder of Asava Group, and Mr. Pawoot Pongvitayapanu, CEO of PaySolutions, Creden, and Fino Efra Fund—both key players in their business sectors and thought leaders driving initiatives to elevate SMEs—joined Miss Duangkamol Limpuangthip, Krungsri Head of SME Banking Group, in a panel discussion on ‘Resilience Strategies in a Changing Business Landscape.’ The discussion addressed challenges SMEs face, including high costs, intense competition, price wars, and the entry of platform businesses and capital groups from China. A crucial strategy for Thai SMEs is to identify their unique strengths, excel in them, build their brands, and create added value while ensuring continuity in delivering value to customers. Importantly, leveraging technology is essential. Krungsri provides tools, projects, and training programs to enhance entrepreneurs’ capabilities.
At the end of the seminar, Mr. Mitsuhiro Ito, Senior Consultant of the Global Business Division at Mitsubishi Research Institute (MRI), shared insights and lessons learned from Japan in his presentation titled ‘Capitalizing on Demographic Shifts: Business Opportunities in an Aging Society.’ He emphasized that the key to transforming businesses to thrive in an aging society is implementing health promotion policies along with a holistic approach within the healthcare market.
The Krungsri Business Forum, titled ‘Business Titans: Breaking the Ground to Win,’ is part of an initiative to enhance the business capabilities of Krungsri’s corporate clients for sustainable growth. This annual forum provides updates on various trends and shares valuable knowledge, allowing corporate clients to gain in-depth insights from leading experts while inspiring opportunities for business expansion.
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