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Wednesday, July 24, 2024

Thailand Boosts Investment in Data Centres and Cloud Services

The Board of Investment (BoI) is accelerating efforts to boost investment in data centres and cloud services in Thailand, aligning with global trends and the government’s digital technology policy. This initiative is crucial for supporting businesses on digital platforms and advancing the country’s artificial intelligence agenda, said Narit Therdsteerasukdi, BoI’s secretary-general.

“Data centres and cloud services will serve as key infrastructure for digital business development,” Therdsteerasukdi emphasized.

The BoI highlighted that major tech companies, including Amazon Web Services (AWS), Google, and Microsoft, are keen to invest in Thailand due to the government’s clear policy supporting data centre development and attractive investment incentives.

So far, the BoI has approved 37 investment project proposals related to data centres and cloud services, totaling an investment value of 98.6 billion baht.

AWS, for example, has announced plans to invest up to 200 billion baht in developing data centres in Thailand. The first phase of this investment includes an allocation of 25 billion baht to build three data centres.

Other companies have also pledged significant investments. NextDC from Australia announced a budget of 13.7 billion baht, while Singapore’s STT GDC and Evolution Data Centre committed 4.5 billion and 4 billion baht, respectively. Supernap (Switch) from the US plans to invest 3 billion baht, Telehouse from Japan 2.7 billion, and One Asia from Hong Kong 2 billion.

Google and Microsoft are also planning to invest in data centre development and are currently in discussions with the Thai government regarding investment specifics, Therdsteerasukdi added.

To further promote foreign investment, particularly in S-curve industries, the BoI is organizing new roadshows. The agency plans to meet with prospective investors in Osaka, Japan next week and in the Middle East later this month.

Narit Therdsteerasukdi and other officials from the BoI will be attending these roadshows to engage with potential investors and highlight Thailand’s investment opportunities.

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