Thailand Board of Investment Announces Launch of ‘Digital Park Thailand’
BANGKOK (PRWEB) January 15, 2018 -- The Thai Government recently launched Digital Park Thailand, the country’s premier destination for digital business leaders, innovators, disruptors, and nomads. Digital Park Thailand is expected to serve as a showcase and incubator for digital businesses in the ASEAN region. Strategically located in Thailand’s Eastern Economic Corridor, Digital Park Thailand is a new digital hub for tech titans and business innovators looking to expand operations to Thailand and the ASEAN region and enjoy the exceptional quality of life the country offers.
Digital Park Thailand will comprise of four key elements to ensure success for digital businesses in the Southeast Asia region. Firstly, a Regional IoT Institute will serve as an IoT Design Center and Innovation Testbed as well as a playground and living lab in the park. Secondly, a Digital Service Hub will complement the digital fulfillment streamline process facilities and physical logistics capacities of the park via rail and roadways that connect the region with Cambodia, Laos, Myanmar and Vietnam. Thirdly, the Fiber One Belt One Road is an open regional internet gateway for digital business and built on submarine cables connected to a terrestrial network, which will make it a true data hub for the region. Finally, the establishment of a University 4.0 and Digital Academy, Smart Living Space and Innovation Workplace make Digital Park Thailand a destination for international digital talent to live, work, learn and play.
“Thailand’s strong internet connectivity, digital capabilities and sound infrastructure, as well as our superb quality of life, make it an excellent location for business leaders looking to relocate their digital businesses within ASEAN,” said Ms. Ajarin Pattanapanchai, Permanent Secretary of the Digital Economy and Society Ministry. “Digital Park Thailand brings everything our country has to offer tech innovators and digital leaders and consolidates it in one place.”
The digital sector is one of 10 incentivized industry sectors in Thailand’s “4.0” economic model, and as such, residents of Digital Park Thailand have access to the special economic zone’s distinct advantages. In terms of location, residents have access to key infrastructural and logistical resources such as Laem Chabang and Map Ta Phut deep seaports, U-Tapao, Don Mueang and Suvarnabhumi Airports, and the Bang Na Expressway. A double track railway from Map Ta Phut deep sea port, a high-speed train from Bangkok to Rayong, and an extended motorway to Map Ta Phut are also all currently under construction, which will add to the logistical connectivity features that Digital Park Thailand offers its residents.
Further enticing companies to establish operations in Thailand are recently announced expanded incentives within the country’s Eastern Economic Corridor. On top of the traditional incentives the EEC offers, the Thai government is also offering additional two years of corporate tax exemption (up to a total 10 years of exemption), as well as a 50% reduction for an additional two years. Digital Park Thailand also offers non-monetary incentives including the opportunity to co-partner with local companies and global players to catalyze innovation, cross border privileges for digital specialists, and the ability for startups to connect with existing industry sectors in the EEC.
Thailand was recently ranked #26 on the World Bank’s Ease of Doing Business 2018 report, up almost 20 spots, and is successfully attracting key global digital players due to the country’s status as one of the world’s leading digital nomad destinations. Global players such as Switch International, a data center company, established Supernap Thailand in 2017 also within the EEC, the same designated economic zone where Digital Park Thailand is located. Supernap Thailand is expected to be one of the most secure, stable and connected data centers in the world .
About BOI
The Thailand Board of Investment (BOI) is the investment promotion agency for Thailand that facilitates foreign direct investment. BOI’s services are free of charge and customized to help business succeed in Thailand. For more information, please visit http://www.boi.go.th and http://www.thinkasiainvestthailand.com.
David Margolis, Conway, Inc., +1 9173314855, [email protected]
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