Thailand aims to be among top five Asian tech ecosystems

Aspiring to rank among Asia’s top five tech ecosystems within the next decade, Thailand is currently focusing on the development of smart industries, particularly in tourism, healthcare, agriculture, and manufacturing, according to a statement by a corporate innovation accelerator.

Dr Kid Parchariyanon, CEO and co-founder of RISE, the accelerator, insisted that the adoption of artificial intelligence (AI), along with nurturing a skilled digital workforce, will be key to achieving this potential. He highlighted several advantages Thailand has over its neighbours, including geopolitical factors linked to the US-China relationship, a substantial economy, and a robust capital market within ASEAN nations.

Thailand’s economic resurgence has favoured strong sectors like tourism and healthcare, making the country an attractive destination for travel, living, and long-stay work, added Dr Kid.

“Thailand’s reputation is well established in those sectors, but there are still many areas that need to be accelerated for further development, such as agriculture, in which Thailand has a lower yield per rai than Vietnam.”

The country’s progress in developing fundamental infrastructure and economic zones, such as the Eastern Economic Corridor, coupled with policies promoting ease of doing business to attract foreign investment, was also praised by Dr Kid, reported Bangkok Post.

“Thailand is a wide margin from Silicon Valley in terms of development, but through the Thailand Digital Valley we can build on our strengths and potential with tech support.”

Tech ecosystem ranking

Dr Kid also commented on the existing fundamental structure and related digital agencies that could further aid the development of the country’s tech ecosystem ranking. He suggested that policymakers should persist in offering incentives to attract investors while also emphasising the importance of sustainability and green energy as essential trends for corporates.

RISE, which started operating in 2017, works to connect tech startups with leading corporates and the government sector to expedite corporate innovation growth via the company’s framework.

In a related development, marketing consultancy McFiva is teaming up with global partners such as Denso International Asia, Singha Venture, Gaysorn Group, RISE, and SO (Siam Rajathanee) to organise the Southeast Asia Technology Conference (SEAT 2024) from March 20 to March 21 at The Crystal Box, Gaysorn Urban Resort, Bangkok. The event aims to unite top-level executives and leaders in frontier technologies and promote Thailand as a regional tech ecosystem, said Warachaya Urupongsa, Chief Digital Officer of McFiva (Thailand).

“We continue to strive towards our primary goal of positioning Thailand among the top five countries for tech ecosystems in Asia.”

The event is designed to showcase potential in areas such as marketing technology, venture capital, climate technology, fintech, health technology, food technology, the Internet of Things, and hardware.