Bangkok, June 17, 2025 – As businesses confront an era of rapid disruption, Thai and Indonesian executives are embracing innovation and adaptability to scale across Southeast Asia. This was the key message from the executive forum, “Scaling Up Business Across Thailand & Indonesia: Market Entry Strategies & Success Stories”, hosted by Sasin School of Management in collaboration with the Indonesia-Thai Chamber of Commerce (INTCC) on 12 June.
H.E. Rachmat Budiman, Ambassador of the Republic of Indonesia to Thailand, opened the forum by noting that 2025 marks the 75th anniversary of diplomatic relations between the two nations. He emphasised the importance of translating this longstanding partnership into tangible results, including expanded market access and sustainable infrastructure development.
Mrs Thanita Sirisup, Senior Executive Investment Advisor at the Thailand Board of Investment (BOI), echoed this, calling for deeper ASEAN collaboration through Thai-Indonesian joint ventures that can unlock regional growth.
Rachada Apiromdej, Founder and CEO of THINK NEXT ASIA, spotlighted emerging consumer trends shaping future market opportunities. “When change bumps up against basic needs, it creates tension—and that gap is best solved through innovation,” she said. One example is the “Mirror Mirror” trend, which uses AI to forecast consumer preferences. A striking application is the Death Clock, an AI model that predicts lifespan based on data from over 61 million individuals and 1,200 studies.
Another trend, “Heritage Renewed,” blends traditional culture with modern design. Rachada cited the Grand Ring at the Osaka Expo 2025, created with Japanese carpentry techniques by architect Sou Fujimoto, and the video game Black Myth: Wukong, rooted in Chinese mythology. The latter not only became the second most-played title on Steam but also boosted tourism to featured sites by 300%.
A panel discussion brought together business leaders from both countries, including Niwat Boonyad of Banpu Public Company; Kasemsri Charoensiddhi, President of Bank Maspion; Bani Maulana Mulia, Group CEO of Samudera Indonesia; and Kun Riana Aplika of Garuda Indonesia.
Bani Maulana Mulia emphasised that disruption is a catalyst for innovation. Recalling the humble beginnings of Samudera, he explained how the company has thrived internationally since before the 1950s—without political or institutional backing. “We’re a private company, so we’ve always had to find ways to survive,” he said. “Innovation and resilience are in our DNA.”
Kun Riana Aplika stressed the importance of tailoring services to evolving consumer needs, especially in the aviation industry. She noted that wellness and medical tourism are among the fastest-growing segments and require continuous adaptation to stay competitive.
Kasemsri Charoensiddhi highlighted that Thai companies entering Indonesia often face delayed profitability and must invest time in understanding the local market. She underscored the value of strategic matchmaking and local insight as keys to long-term success in cross-border expansion.
Reflecting on Indonesia’s economic landscape, Niwat Boonyad pointed to the country’s abundant natural resources as a core driver of growth. Despite historical downturns, including the Asian financial crisis, Indonesia has since experienced sustained recovery with 20–30% annual growth in recent years. “The disruptions we face now are forcing us to change faster,” he said. “That’s not a threat—it’s an opportunity.”