SMU Industry Leaders Virtual Dialogue
SMU Industry Leaders Virtual Dialogue
By SMU City Perspectives team
Published 9 November, 2020
It is not only the progress in better reform that is important, but it is the quality; how we go about doing it to look into the impact on the environment, on the social aspect, as well as on the government structure.
Chartsiri Sophonpanich
President, Bangkok Bank PCL; Chair of SMU International Advisory Council (IAC) Thailand
In brief
- Chartsiri Sophonpanich compared the 1997 Thailand crisis to the COVID-19 crisis, which mainly affected their export and tourism sectors comprising 60% and 20% of their market economies. He also compared their banking and financial situation to a Nike swoosh rather than the V-shape type of recovery. To mitigate the significant effects of the crisis, Thai banks worked with Central Bank to grant soft loans to qualified small businesses.
- Mr Sophonpanich foresees a fundamental shift in and value added to existing sectors and thinks that customer requirements and market conditions are changing rapidly. The covid event will drive more change for the ASEAN region.
- Mr Sophonpanich emphasised the importance of quality and sustainability in green finance as well as how such activities for funding will impact the environment on the social and governance aspects.
Methodology & References
- Keeping Thailand going amid the COVID-19 storm. Singapore Management University. Retrieved from {https://cityperspectives.smu.edu.sg/article/keeping-thailand-going-amid-covid-19-storm}