Thailand's Business Leaders Chart Path to Digital Future at CEO CONNEXT 2025
CP Group chief urges courage and innovation as Nation Group honours five exceptional CEOs driving national transformation
- At the CEO CONNEXT 2025 event, business leaders urged for courage and digital transformation to overcome economic stagnation and establish Thailand as a regional technology hub.
- CP Group CEO Suphachai Chearavanont proposed a four-pillar strategy for a digital future, focusing on regional connectivity, economic digitalization, attracting skilled talent, and becoming a data and AI hub.
- A key proposal to foster innovation involves providing seed funding to 200,000 university student teams to significantly boost the country's startup ecosystem.
- The event honored five exceptional CEOs for their roles in national transformation and was designed as a platform for leaders to network and collaborate on future growth.
CP Group chief urges courage and innovation as Nation Group honours five exceptional CEOs driving national transformation.
Thailand's private sector must demonstrate courage and embrace digital transformation to overcome economic stagnation and position the nation as a regional technology hub, business leaders declared at the CEO CONNEXT 2025 awards ceremony on Thursday night.
Suphachai Chearavanont, chief executive of Charoen Pokphand Group, received the prestigious CEO of The Year 2025 award at the Dusit Thani Hotel, where he outlined an ambitious vision for Thailand's economic revival centred on innovation, connectivity, and human capital development.
"Being a CEO requires more than just vision, perseverance, or mindfulness during a crisis. There is another critical factor: courage," said Suphachai, drawing parallels between today's challenges and the 1997 Tom Yum Kung financial crisis that marked the beginning of his leadership journey.
The CP Group chief warned that global crises, including technological disruption, geopolitical friction, and climate volatility, are creating unprecedented challenges.
"We must ask if we are already in World War III," he said, noting that whilst the goal was to limit warming to 1.5 degrees Celsius, many now predict it will exceed three degrees.
Despite these challenges, Suphachai presented Thailand as uniquely positioned to capitalise on its strategic advantages.
He proposed a comprehensive growth strategy built on four pillars: regional connectivity linking Thailand, Malaysia, and Singapore's combined US$1.6 trillion GDP; digital transformation to formalise the economy and expand the tax base; attracting seven million skilled workers and innovators; and establishing Thailand as a data centre hub for cloud and artificial intelligence services.
The CEO highlighted a stark disparity in Thailand's startup ecosystem, comparing the country's 2,000 startups to Singapore's 50,000.
He proposed providing seed funding to 200,000 university student teams, suggesting that even if only one per cent become unicorns, "the country will be filled with innovators."
Shine Bunnag, chief executive officer of The Nation Group, which organised the event, emphasised the critical need for strong leadership in volatile times.
"If we remain followers, we might not be able to lead our organisations to survival," he said, acknowledging the pessimistic atmosphere surrounding the Thai economy.
Shine noted concerns about Thailand being trapped in old industries and potentially being surpassed by Vietnam's GDP, creating what he described as a "hibernating bear" state characterised by fear of investing.
However, he expressed confidence in the private sector's resilience: "Thai private enterprises have a high capability to survive in any situation."
The Nation Group CEO outlined his vision for the annual CEO event to serve as a platform for network creation, where chief executives and leaders across Thailand can meet, discuss, and exchange expertise.
He emphasised the importance of strengthening both "know-how" and "know-who" networks to develop better solutions for corporate growth and national development.
The CEO AWARDS 2025 recognised five outstanding leaders across different categories.
Beyond Suphachai's top honour, Sinon Vongkusolkit of Banpu received the Young CEO Award, while Payong Srivanich of Krung Thai Bank was named Innovative CEO. Thapana Sirivadhanabhakdi of ThaiBev won the Sustainability CEO Award, and Jirayut Srupsrisopa of Bitkub claimed the Influential Brand CEO Award.
The event, organised around three core principles—community, chance, and giving—brought together Thailand's business elite to forge powerful networks, create new opportunities, and give back to society.
In his closing remarks, Suphachai offered encouragement to his fellow executives: "Thailand definitely has a future. I encourage all CEOs to keep fighting with courage."
