On March 14, 2025, at Centara Grand & Bangkok Convention Centre, CentralWorld, Bangkok, former Prime Minister Thaksin Shinawatra participated in MFC’s 50th Anniversary event titled “The World’s Next Opportunities and Beyond.”
The event, aimed at exploring future investment opportunities, was co-hosted by Nation Group and Thailand’s first asset management company, MFC. Thaksin also engaged in a panel discussion on “Opportunities and the Future of Investment.”
Chris Bradley, a strategy consultant from McKinsey & Company, delivered a keynote speech highlighting the rapid changes in global industries and the intense competition they foster. He emphasized the necessity for Thailand and other ASEAN countries to modernize their economic infrastructure to maintain global competitiveness.
Bradley illustrated this by pointing out the shift in the top ten largest market cap stocks in the U.S. from 2005 to 2025. Back in 2005, companies such as Citi, BP, Shell, ExxonMobil, and Microsoft — then the sole tech company in the top ten — dominated the list. Fast forward 20 years, and by 2025, tech companies make up nine of the ten largest firms in the S&P 500, showcasing the seismic shifts within industries. Previously dominated by sectors like energy, commercial banking, and manufacturing, these industries have been overtaken by key players deploying sophisticated software, cutting-edge technology, and significant R&D investment, achieving exponential profit and growth.
Bradley pointed out that ASEAN companies have largely been absent from this industrial transformation. However, he noted that signs of change are appearing in both Thailand and ASEAN countries. He cited examples such as Thailand’s leadership in EV production, Indonesia’s 1GW battery plant, Malaysia’s contribution of 5% to the semiconductor export market, and the rising prominence of Vietnam.
In Thailand, biotechnological advancements are seen in companies like Betagro and CPF, while ASEAN’s e-commerce is booming with 460 million users involved, led by platforms such as Shopee and Tokopedia. The space technology sector is also advancing with Thai company mu Space, alongside developments in Singapore and Vietnam.
Bradley suggested these signals indicate a need for business redirection. Success would elevate Thailand and ASEAN into competitive positions against global giants.
During the second part of the event, former Prime Minister Thaksin Shinawatra shared his vision for advancing Thailand’s economy. He emphasized the government’s ambition to make Thailand a “center for crypto and blockchain,” a field gaining momentum since the U.S. President Donald Trump’s endorsement. Thailand aims to close the gap as a leader in this area with projects like a “sandbox” in Phuket for crypto transactions and a Stable Coin tied to government bonds expected in the coming months. Additionally, a national blockchain project is anticipated by year’s end.
Thaksin also highlighted the growing foreign interest in investing in Thai data centers, likening them to “crude oil” that requires “refineries” — in this case, data centers need “AI” and “energy,” ideally sourced from clean energy. To attract foreign investment, Thailand must aim for lower electricity costs, a major draw for investors. Currently, global energy costs hover around 2 U.S. cents, whereas Thailand’s stand at 11 cents. Initially, the goal is to reduce this to 8 cents, based on foreign investor insights that suggest 6-7 cents would be very attractive. Given Thailand’s ample land for development of huge projects, energy costs remain the main obstacle.
Thaksin’s review of investor sentiment indicates achieving an 8-cent energy cost is feasible for Thailand. For domestic consumers, he aims for electricity costs to be around 2.5 baht, akin to the earlier 8-cent benchmark.
In embracing AI, Thaksin sees Thailand as a pioneer in AI applications, without waiting for foreign models. For instance, small clinics with single physicians could deploy AI for diagnostic support. Additionally, he urged Thailand to integrate into the digital economy, technology, and AI industries to keep pace with global advancements. The vision includes establishing Thailand as a safe zone or “data center embassy” to consolidate various national data centers, ultimately elevating Thailand as a hub for data centers and AI.
On the topic of nuclear energy, Thaksin noted its current high costs compared to solar and other energy sources abundant in Thailand. Reducing LNG imports could further decrease energy costs, aligning with efforts to lower electricity prices.
