In a bid to cater to the growing demand for cloud services in the ASEAN region, the Thai Board of Investment (BOI) has approved two significant data center projects worth a combined $1.7 billion (60 billion baht). These projects, led by Quartz Computing, an affiliate of Alphabet Inc., and Digital Land Services, will play a vital role in supporting advancements in 5G technology, cloud computing, the Internet of Things (IoT), and artificial intelligence (AI). Quartz Computing will oversee a project valued at 32 billion baht, while Digital Land Services will undertake a project valued at 28 billion baht, both to be situated in Chon Buri province. Completion and operational status for these ventures are expected by 2027, marking a substantial investment in Thailand’s tech infrastructure.
Additionally, the BOI has received multiple applications for incentives covering 47 data center and cloud service projects, with significant investments originating from the United States, Australia, China, and other countries. This influx of foreign investment underscores Thailand’s strategic importance in the region’s digital economy. Industrial and governmental stakeholders view these incentives as pivotal for fostering technological advancements and economic growth. Moreover, in a separate move to boost its tech industry, the BOI has endorsed a Chinese company’s project focusing on precursor materials for printed circuit boards.
Furthermore, the BOI has also implemented measures to support businesses affected by recent flooding in the country. This commitment to aiding businesses through challenging times further strengthens Thailand’s position as a stable and attractive destination for foreign investment in the tech sector. The approval of these substantial data center projects and other tech-related initiatives highlights a positive trend towards increased foreign investment in Thailand’s burgeoning digital economy.