Digital huge investor draw

Digital huge investor draw

BoI records B12.7bn in applications

True Digital Park is located on Sukhumvit Road, adjacent to the Punnawithi skytrain station. True will develop 41,000 square metres to be the digital business hub.
True Digital Park is located on Sukhumvit Road, adjacent to the Punnawithi skytrain station. True will develop 41,000 square metres to be the digital business hub.

Investors have applied to avail promotions for 135 projects in the country's digital industry, with a combined worth of 12.7 billion baht over the first nine months this year, sharp growth of 405% from the same period last year, says the Board of Investment (BoI).

Digital business is one of 12 targeted industries under the government's S-curve policy. It consists of software development, digital platform service, cloud service and innovation incubation centre.

Since early 2018, the BoI has approved enterprise software, digital content and embedded software.

"Sharp growth in the digital industry is a positive sign, with new applications growing in line with the government's strategy to focus on new industries that will add value," said Narit Therdsteerasukdi, the BoI's deputy secretary-general.

"In addition, the digital industry will adopt new technology and innovation to increase industrial efficiency and competitiveness."

Mr Narit said True Digital Park Co has recently received permission to establish the country's first digital park in Thailand, with an investment of 1.58 billion baht.

The digital park will be located on Sukhumvit Road, adjacent to the Punnawithi skytrain station. True will develop an area of 41,000 square metres to be the digital business hub, which features a co-working space, technology laboratory, training and learning centre, business promotional activity area, one-stop service centre and innovation space service for educational institutions.

True Digital Park, sponsored by True Corporation, aims to become a global startup destination to develop a technology and innovation system in Thailand that connects startups, entrepreneurs, tech companies, accelerators, incubators, academies and government agencies.

"This digital project is expected to be a key factor to prepare new infrastructure and support new technology communities and systems for the development of Thailand's digital industry and produce a new digital crew for the future state of Thailand 4.0 initiative," said Mr Narit.

"The BoI also expects to improve smart cities in the future."

He said the BoI has agreed to promote seven cloud service firms with a total investment of 1.14 billion baht.

They include Japan's Digital Port Asia, US-based SUPERNAP International and TCC Technology, which is owned by Thai tycoon Charoen Sirivadhanabhakdi.

Earlier, the BoI approved the 700-million-baht project from Huawei Technology Thailand to build two data centres in Bangkok and Chon Buri.


Do you like the content of this article?
COMMENT

Monetary policy should be accommodative for some time: BoT

The Bank of Thailand said monetary policy should remain accommodative for some time to support economic growth and help inflation return to target.

14:28

Suspect caught

Police arrest a man for the robbery and triple-murder at a gold shop in Lop Buri two weeks ago.

14:10

Saudi dismisses link to hack of Amazon owner Bezos

WASHINGTON: The Saudi embassy in Washington on Tuesday dismissed suggestions the kingdom hacked the phone of Washington Post owner Jeff Bezos, as media reports linked the security breach to a WhatsApp message from an account of Crown Prince Mohammed bin Salman.

13:46