Bangkok Bank (BBL) is prepared to aid Thai medium-sized enterprises (SMEs) looking to expand into Indonesia, where there is significant potential across various supply chain industries.
During the 2025 Indonesia Investment and Trade Forum, hosted by Bangkok Bank and its Indonesian affiliate Permata Bank, BBL president Chartsiri Sophonpanich highlighted Indonesia’s promising economic and social prospects.
The country’s GDP per capita increased from US$3,370 (around 108,000 baht) in 2015 to US$4,980 recently, indicating its rising national wealth and appeal as an investment hub.
In addition to large corporations, BBL is ready to support SMEs aiming to penetrate the regional market. These SMEs are integral to supply chains in diverse industries.
Chartsiri noted that the growth of Indonesia’s middle class and national wealth could drive the expansion of Thai SMEs in sectors such as food and beverage, renewable energy, automotive parts, manufacturing, and infrastructure.
However, he cautioned businesses to be mindful of challenges arising from four major global shifts: climate change, technological advancements, geopolitical and economic volatility, and the relocation of production bases due to deglobalisation.
Diversifying into high-growth markets like Indonesia can mitigate risks while opening new opportunities, Chartsiri said.
On the topic of the recent suspension of Prime Minister Paetongtarn Shinawatra by the Constitutional Court, Chartsiri expressed that it is unlikely to affect government operations. He expects the Cabinet to continue functioning normally and does not foresee a dissolution of the House. BBL plans to keep an eye on the political landscape.
Chief Investment Officer of Indonesia’s sovereign wealth fund Daya Anagata Nusantara, Pandu Sjahrir, remarked that trade and investment between Thailand and Indonesia have been on a steady rise.
As of the first quarter of 2025, Thailand’s cumulative investment in Indonesia reached US$1.4 billion, driven by sectors such as chemicals and pharmaceuticals, rubber and plastics, mining, food, automotive, and transport.
He said that Thai investments in Indonesia, particularly in the chemical, renewable energy, and automotive sectors, have bolstered the country’s sustainable growth and green transformation.
Key contributors include Thai corporations like PTT Global Chemical, Ratch Group, Egco Group, SCG, and Thai Summit Group, reported Bangkok Post.
“Thailand is well-positioned to support Indonesia’s economic transformation through high-impact investments in critical sectors such as chemicals, renewable energy, and infrastructure.”
Pandu said that Indonesia is concentrating on eight priority sectors: minerals (notably nickel and bauxite), renewable energy (including upstream oil and renewable platforms), digital infrastructure (such as data centres), healthcare, financial services, utilities and infrastructure, industrial estates and property, and food and agriculture.
The story Bangkok Bank backs Thai businesses entering Indonesia’s market as seen on Thaiger News.
