HSBC Thailand remains committed to supporting the Thai economy amid heightened global uncertainties, demonstrating its confidence in the country's long-term growth potential.
Despite ongoing uncertainties, Thailand is poised to benefit from a robust infrastructure ecosystem that will sustain its economic momentum this year, according to Giorgio Gamba, chief executive and head of banking at HSBC Thailand, in an exclusive interview with the Bangkok Post.
GOVERNMENT PARTNERSHIP
Mr Gamba highlighted the success of a recent roadshow in China, where many foreign investors have shown interest in investing in Thailand across various industries. These investors include both HSBC's existing clients looking to expand their investments and potential new investors who are not currently banking with HSBC.
HSBC Thailand participated in the roadshow across six cities in China over five days in the past two weeks. This initiative was part of the bank's collaboration with the Board of Investment (BoI), following the signing of a memorandum of understanding (MoU) in 2024 to promote Thailand as Southeast Asia's investment hub.
In February, HSBC Thailand signed another MoU with the Eastern Economic Corridor Office to bolster global investment in the EEC project.
Through these strategic partnerships with government agencies, Mr Gamba said HSBC Thailand is actively supporting economic growth. The bank plans to participate in further roadshows with government organisations throughout the year to attract foreign direct investment (FDI).
"I believe roadshows are an effective way for us to engage with our clients and help them understand the vast business opportunities available in Thailand," he said.
PRIME INVESTMENT DESTINATION
Despite projections of slower economic growth for Thailand this year, Mr Gamba said the growth rate is not the primary factor influencing FDI. International investors typically focus on long-term opportunities and the country's robust manufacturing ecosystem.
In addition, Southeast Asia's high growth potential and strong regional connectivity are key factors in attracting FDI to both the region and Thailand. These advantages provide international investors with significant opportunities for both establishing manufacturing bases and expanding exports.
Mr Gamba highlighted Thailand's strength as an investment destination, noting that in 2024, new international inbound clients accounted for 84% of the bank's total new clients, underscoring Thailand's key role in the region.
Last year, HSBC Thailand facilitated international investments from 38 countries, with significant contributions from China, intra-Asean markets, Europe, the Middle East and the US -- aligning with Thailand's historically high FDI levels.
In 2024, Thailand approved investment applications totalling 727 billion baht, marking the highest level in two decades.
"We expect BoI applications in Thailand to continue growing this year. We believe Thailand is the right place, and now is the right time to invest," said Mr Gamba.
With its business expertise, financial capabilities and strong global network, HSBC Thailand is well-positioned to support international investors looking to invest in the country.
The bank focuses on a wide range of industries, including electric vehicles, data centres, advanced manufacturing, electronics, renewable energy, and other sectors related to digital innovation and environmental, social and governance initiatives, according to Mr Gamba.
EMPOWERING EXPANSION ABROAD
Beyond attracting inbound investment, HSBC Thailand also supports Thai businesses in expanding internationally. This year, the bank will continue assisting Thai clients to 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 approach will create greater opportunities for Thai businesses to scale globally while contributing to Thailand's economic expansion.
"We are committed to growing our business, expanding our client base, investing in Thailand, and helping our clients connect with regional and global opportunities to invest and grow," said Mr Gamba.
We also focus on expanding HSBC Global Private Banking in Thailand to help clients to manage, grow, and preserve their wealth legacy for generations to come, and we are in growth mode," said Mr Gamba.
HSBC Thailand, the first international bank in the Thai market and "Thailand's Best International Bank" according to Euromoney and FinanceAsia for four years in a row, has been operating in the country for 136 years.
Parent company HSBC is one of the world's largest banking and financial services organisations, with a strong presence in 58 countries and territories.
