Thailand is on the verge of a major financial investment from three of the world’s tech giants, Amazon Web Services (AWS) AMZN, Google GOOGL GOOG, and Microsoft MSFT. The investment, worth a staggering $8.5 billion, is set to significantly advance the nation’s digital infrastructure and economy.
What Happened: As reported by Reuters, each of these three tech behemoths will contribute 100 billion baht towards the total investment of 300 billion baht ($8.46 billion). Government spokesperson, Chai Wacharonke, made the announcement, highlighting the potential impact on Thailand’s digital landscape.
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Why It Matters: This considerable investment follows a series of strategic moves by Thailand to attract foreign investments. In October 2023, the Thailand Board of Investment (BOI) approved investment applications totaling 41 billion baht ($1.1 billion) in various sectors, including renewable energy, data centers, and travel infrastructure.
Moreover, the Prime Minister of Thailand had previously engaged with executives from influential tech companies including Google, Microsoft, and Tesla, during the 78th session of the United Nations General Assembly in New York. This initiative was aimed at promoting investment in Thailand, as reported by the Bangkok Post.
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