On February 25, 2025, officials from Thailand's Bank of Thailand (ธปท.) gathered with leaders from CIMB Group, Malaysia's prominent financial institution, to tackle pressing economic challenges facing the region.
The meeting, held at the Bank of Thailand's headquarters, featured pivotal figures including Dr. Sethaput Suthiwartnarueput, the Bank's Governor, along with Mr. Tengku Dato’ Sri Azmil Zahruddin bin Raja Abdul Aziz, the Director of CIMB Group and Chairman of CIMBT. Joining them were Mr. Muhammad Novan Amirudin, Group CEO of CIMB Group, and Mr. Paul Wong Chee Kin, the Managing Director of CIMBT.
The focus of the dialogue was on the increasing uncertainties stemming from trade and investment policies affecting the business environment. Dr. Suthiwartnarueput emphasized the necessity for collaborative efforts to address these challenges, paving the way for innovative solutions and financial strategies to support the sector.
"CIMB Group is focused on helping develop the Thai financial sector over the long term," remarked Mr. Tengku Dato’ Sri Azmil Zahruddin bin Raja Abdul Aziz during the discussions, highlighting the role of financial institutions as key players in enhancing domestic economic resilience.
The officials engaged deeply around various proposals, including transition financing to assist debtors, aiding the Thai financial sector's ability to absorb shocks and manage financial obligations effectively.
Discussions also touched upon broader initiatives aimed at facilitating trade and investment, underlined by the mutual acknowledgment of the risks posed by global economic fluctuations. This entails enhancing cooperative measures between governmental and financial entities to uphold economic stability.
Both parties recognized the urgency of the situation, with Mr. Muhammad Novan Amirudin asserting the importance of swift, decisive actions to mitigate any negative impacts on businesses and consumers alike.
At the conclusion of the meeting, participants expressed optimism about the future collaboration between the Bank of Thailand and CIMB Group, establishing both institutions as proactive stakeholders committed to fostering economic recovery and growth.
This meeting serves as part of Thailand's broader strategy to navigate through challenging economic times, with hopes resting on strategic partnerships and collaborative policymaking.
With the implication of such engagements, stakeholders can look forward to measures aimed at empowering the business sector and ensuring sustainable economic development throughout Thailand.