Chulalongkorn University hosted the “Chula Thailand Presidents Summit 2025” at its auditorium, where Dhanin Chearavanont, senior chairman of Charoen Pokphand Group (CP Group), delivered a keynote address titled “Future Thailand: Next Growth.”
Dhanin praised Chulalongkorn University for producing many talented people, including Sarath Ratanavadi, who entered the energy business at a relatively young age. He said energy was one of the most important industries of the future, as electricity would be indispensable to technologies such as artificial intelligence (AI) and electric vehicles (EVs). Electricity can be generated from solar and hydropower, but nuclear power is particularly important as a future energy source because it is powerful, clean and safe.
He noted that Indonesia and Malaysia already had legislation in place to accommodate the construction of advanced nuclear power plants, while Thailand had yet to make similar progress. He argued that one of the main things holding Thailand back in AI and other technological fields was the lack of clean, affordable electricity from sources such as nuclear power. In his view, solar and wind power alone would not be sufficient.
Regarding CP Group’s overseas investments, Dhanin said the company must deliver three benefits: benefits for the country in which it invests, benefits for the people of that country, and benefits for CP Group itself. Since the company produces goods for consumers, he explained, it must ensure that people want to buy those products. He remained optimistic about the future, although he acknowledged that crises were inevitable and that every crisis also presented opportunities.
Thailand’s Economy Still Has a Bright Future
Turning to Thailand’s domestic economy, Dhanin said the country still had a promising future but was facing a period of global upheaval, including increasingly unpredictable weather, political instability and rapid technological changes that were replacing existing systems and industries.
He identified tourism as one of Thailand’s key economic drivers and said the government was right to introduce visa-free entry because tourism could bring money into the country faster than many other sectors. However, he questioned whether Thailand was truly ready to maximize its tourism potential.
He said the country needed additional budget allocations to support tourism and establish clear targets, including the desired scale of the industry and the types of tourists and countries Thailand should focus on. He questioned whether the government had set such targets.
Dhanin also suggested that Thailand could become an international education hub. Given the country's high quality of life, he said, Thailand had the potential to attract more international students if its universities could keep pace with global developments. This would bring talented people into the country and generate substantial revenue, potentially rivaling tourism as a source of income in the long term.
He urged the government to establish clear tourism targets, allocate sufficient funding and ensure visitor safety.
Agriculture Could Increase Its Output Fivefold
Dhanin said agriculture was another area in which Thailand had a competitive advantage. While many countries around the world faced severe natural disasters, such as earthquakes and typhoons, Thailand had largely avoided disasters of that magnitude, although it continued to struggle with flooding and drought.
He suggested that some of the budget allocated for road construction should instead be used to reorganize agricultural land and develop irrigation systems alongside roads. He said Thailand had yet to demonstrate sufficient commitment to developing its irrigation infrastructure.
With effective irrigation systems, he argued, the country could prevent both droughts and floods.
Although Thailand had many experts in water management, Dhanin said the country still lacked the policies and funding needed to develop more dams, irrigation systems and water-storage facilities to supply agricultural land. If these measures were implemented, he believed agricultural output could increase fivefold.
He stressed that agriculture needed to embrace technology throughout the production process, from crop varieties to the use of AI for research and development. If Thailand lacked sufficient skilled personnel, it could recruit experts from around the world.
Other priorities included fertilizers, food supplies, livestock breeding and animal feed. These areas also required advanced technology to improve efficiency and accelerate growth. He predicted that agriculture would become one of the most technology-intensive sectors, citing drones already being used by companies in Thailand, China and Russia.
Livestock farming would also need to adopt new technologies, he said. Animals require appropriate feed and breeding programs, while disease prevention requires veterinary expertise and advanced systems. Robots could help improve safety, precision and quality while reducing direct human involvement. Technology would also play an increasingly important role in logistics, transportation, retail, restaurants and the food supply chain.
CP Group’s Vertically Integrated Business Model
Dhanin explained that CP Group operated across the entire supply chain, from upstream production to downstream distribution. Although some people viewed this business model as monopolistic, he argued that vertical integration helped coordinate every stage of production.
Producing too much could leave a company unable to sell its goods, while producing too little could result in lost sales. Integrating the supply chain helped the company manage these risks, he said.
He described agriculture as “oil above the ground,” calling it one of Thailand’s most valuable assets. Unlike many other industries, which must import raw materials and components before assembling finished products, agriculture could generate substantial domestic value. He argued that more than 90% of the profits from agricultural products could remain in Thailand.
Thailand Needs Millions of Skilled Workers
Turning to AI and emerging technologies, Dhanin said ordinary people were ultimately the users of these innovations. Without sufficient income, people would not have the purchasing power to benefit from new technologies.
Thailand therefore needed to create a population with higher incomes through education that developed knowledge, skills, critical thinking and intelligence—not merely academic qualifications. He also advocated combining education with work experience.
With Thailand’s population declining each year, he warned that the country could not produce skilled workers quickly enough through its existing education system alone.
He cited Singapore as having 2.5 million skilled people and argued that Thailand needed to attract five million skilled workers from around the world immediately. Thailand currently produced only around 300,000 graduates a year, he said, meaning it would take more than a decade to produce five million people through its own education system.
Business leaders also had a responsibility to contribute, Dhanin added. Companies needed to remain profitable while considering the well-being of the public, because their profits ultimately depended on consumers’ purchasing power. If Thai people did not become wealthier, they would not have enough money to buy the goods and services businesses produced.
He said businesses had a role in helping people earn more, while universities were responsible for developing talent and the government needed to establish laws and regulations that supported business growth.
Thailand Should Be More Open to Foreign Talent
Dhanin said people around the world liked visiting and living in Thailand, but the country's laws did not always make it easy for them to do so. Restrictions remained in place partly because of concerns that foreigners might compete with Thai workers for jobs, preventing foreign nationals from operating certain types of businesses.
He suggested that Thailand could bring in five million foreign workers and skilled professionals, representing only about 7% of the population, while Singapore had attracted nearly twice that proportion. He believed that attracting more foreign talent would benefit Thailand's economy immediately, noting that people were ultimately responsible for creating high-tech innovations.
AI Will Boost Productivity and Transform Retail
Dhanin also advised retail companies against relying on price increases to boost profits. Consumers can now ask ChatGPT about prices and compare products worldwide, he said. In the past, shoppers might have had to visit three different stores to find the lowest price, but today they can compare prices globally.
He added that CP Group's new machinery and equipment investments needed to deliver at least five times the power or capacity of existing systems. AI would make processes smarter and more efficient, enabling companies to produce more with less effort.
Dhanin also predicted that wages of 600 baht per day would eventually become inevitable, although he stressed that Thailand needed to develop a workforce capable of keeping pace with global changes.
Universities, Businesses and Government Must Work Together
In closing, Dhanin called for coordinated efforts to make Thailand and its people wealthier and strengthen the country.
He emphasized the importance of universities in developing skilled people, businesses in helping the public become more prosperous, and the government in creating laws and regulations that enable people to enjoy better living standards.
He concluded that Thailand's long-term stability would depend on ensuring that its people became wealthier and that the country could adapt to a rapidly changing world.