HSBC Thailand is dedicated to bolstering the Thai economy despite increased global uncertainties, showcasing its belief in the country’s long-term growth potential.
According to Giorgio Gamba, CEO and Head of Banking at HSBC Thailand, Thailand is set to benefit from a strong infrastructure ecosystem that will maintain its economic momentum this year, as revealed in an exclusive interview with the Bangkok Post.
COLLABORATION WITH GOVERNMENT
Mr. Gamba emphasized the success of a recent roadshow in China, where there has been significant foreign investor interest in various sectors within Thailand. These investors include current HSBC clients seeking to expand their investments as well as potential new clients not yet banking with HSBC.
HSBC Thailand participated in a five-day roadshow across six cities in China over the last two weeks. This initiative is part of the bank’s collaboration with the Board of Investment (BoI), following the signing of a memorandum of understanding (MoU) in 2024 aimed at promoting Thailand as the investment hub of Southeast Asia.
In February, HSBC Thailand also signed another MoU with the Eastern Economic Corridor Office to enhance global investment in the EEC project.
Through these strategic partnerships with government entities, Mr. Gamba stated that HSBC Thailand is actively fostering economic growth. The bank plans to engage in further roadshows with government organizations throughout the year to attract foreign direct investment (FDI).
“I believe that roadshows are an effective way for us to engage with our clients and help them recognize the extensive business opportunities available in Thailand,” he remarked.
PRIME LOCATION FOR INVESTMENT
Despite forecasts of slower economic growth in Thailand this year, Mr. Gamba noted that the growth rate is not the predominant factor driving FDI. International investors typically prioritize long-term opportunities and the country’s strong manufacturing capabilities.
Moreover, the high growth potential in Southeast Asia and robust regional connectivity are instrumental in drawing FDI to the region, particularly to Thailand, offering international investors significant prospects for establishing manufacturing bases and boosting exports.
Mr. Gamba highlighted Thailand’s appeal as an investment destination, revealing that in 2024, new international clients represented 84% of the bank’s total new client base, emphasizing Thailand’s crucial role in the region.
Last year, HSBC Thailand facilitated international investments from 38 different countries, with notable contributions from China, intra-Asean markets, Europe, the Middle East, and the United States, in line with Thailand’s historically high levels of FDI.
In 2024, investment applications in Thailand totaled 727 billion baht, marking the highest level in two decades.
“We anticipate continued growth in BoI applications in Thailand this year. We believe that Thailand is the ideal location and now is the opportune time to invest,” asserted Mr. Gamba.
With its industry expertise, financial resources, and extensive global network, HSBC Thailand is well-equipped to assist international investors looking to invest in the country.
The bank focuses on various sectors, such as electric vehicles, data centers, advanced manufacturing, electronics, renewable energy, and other areas related to digital innovation and environmental, social, and governance initiatives, according to Mr. Gamba.
SUPPORTING GLOBAL EXPANSION
In addition to attracting inbound investment, HSBC Thailand also assists Thai businesses in their international expansion efforts. This year, the bank will continue to help Thai clients invest in key strategic markets where HSBC has a strong presence, including China, Southeast Asia—one of China’s key economic corridor partners— the Middle East, Europe, and beyond.
This strategy will provide greater opportunities for Thai businesses to expand globally while contributing to the economic growth of Thailand.
“We are committed to growing our business, broadening our client base, investing in Thailand, and facilitating our clients’ connections to regional and global investment opportunities,” stated Mr. Gamba.
Additionally, HSBC is focused on expanding its Global Private Banking services in Thailand to assist clients in managing, growing, and preserving their wealth for future generations.
HSBC Thailand, the first international bank in the Thai market and recognized as “Thailand’s Best International Bank” by Euromoney and FinanceAsia for four consecutive years, has been operating in the country for 136 years. The parent company, HSBC, ranks among the world’s largest banking and financial services organizations, with a significant presence in 58 countries and territories.
