The CEO of deVere Group, Nigel Green, has urged Thailand's National Innovation Agency (NIA) to foster an entrepreneurial culture and cultivate an international mindset within the country to boost the tech sector.
The chief executive of deVere, one of the world's largest independent financial advisory, asset management and fintech organisations, attended the fourth annual meeting of the International Advisory Board of the NIA after being invited to the opening ceremony, The Startup x Innovation Thailand Expo 2023 (SITE 2023).
Nigel Green also enjoyed a tour of the country's leading tech event alongside Thailand's Deputy Prime Minister and Minister of Foreign Affairs, Mr Don Pramudwinai.
After, the deVere CEO gave a "barnstorming keynote address" on Thailand's journey to becoming a global fintech hub.
Speaking at the annual meeting of the NIA's Advisory Board, Nigel Green noted: "the immense potential that lies within Thailand's vibrant economy."
He said: "The importance of harnessing innovation as a driving force for sustainable growth and development cannot be emphasised enough. By embracing technological advancements and disruptive ideas, Thailand can position itself as a regional powerhouse and attract global attention and international talent."
During the meeting, he underscored the significance of fostering an entrepreneurial culture that encourages risk-taking, creativity, and collaboration.
"By nurturing a supportive ecosystem for startups and small businesses, Thailand can unlock the latent entrepreneurial spirit of its citizens and inspire a wave of innovation across diverse industries."
He continued: "Cultivating an international mindset within Thailand's business community will be invaluable to the country's long-term sustainable economic growth.
"In an interconnected world, global collaboration and cross-cultural understanding are vital for unlocking new market opportunities and attracting foreign investments.
"By encouraging a business environment that embraces diversity, openness, and global perspectives, Thailand can position itself as a global hub for startups, tech, innovation and international trade and commerce."
For his part, Don Pramudwinai, the Deputy Prime Minister and Minister of Foreign Affairs, stated: "Innovation Partnership, or the collaboration in innovation, is a crucial key that will lead Thailand towards becoming an innovation nation.
"It is evident that 'innovation' goes beyond mere convenience but has transformed into the 'future of enhancing the quality of life, society and economy.'
"It fosters sustainable development in all dimensions, particularly in driving innovation among startup entrepreneurs and SMEs to become innovation-based enterprises that enhance competitiveness and elevate existing capabilities to a global level through an innovative mindset. This includes problem-solving and creating new economic opportunities.
"Therefore, promoting a shift from consumers to creators, from being passive to being proactive, is a challenging task for our nation.
"However, witnessing today's achievements, I see a glimmer of hope and believe in the power of collaboration. I think we are on the right track. By sowing seeds, promoting knowledge, supporting development funding, and strengthening our capabilities to compete at the global level, I see the fruits of our efforts beginning to blossom."
Nigel Green concludes: "Thailand possesses incredible potential for growth, and by embracing innovation, fostering an entrepreneurial culture, and developing an international mindset, the country can achieve remarkable strides forward.
"By encouraging collaboration between the public and private sectors, we can create an ecosystem that nurtures creativity, fosters innovation, and propels Thailand's economy to new heights."
The CEO's recommendations were met with enthusiasm and interest from the NIA at the meeting.
They expressed their commitment to working closely with deVere Group and other stakeholders to implement strategies that promote innovation, entrepreneurial development, and global engagement.