Smart nation and Smart city plans pushing forward with public investments in many areas
Since the updated Smart Thailand 2020 plans have been released, the Thai public sector is pushing forward with the launch of new initiatives to create a modern and digital society. One of the initiatives is to digitalize the public sector with several ongoing E-government investments. Thailand is also launching several smart city pilot projects to promote digital investments in areas such as energy, transport, security, healthcare and even hospitality. One of the biggest initiatives is the Smart Grid Network currently in development, with a total budget of 5.3 billion USD.
Increasing investments in Fin Tech and digital technologies in the private sector
The investments within ICT and digital technologies are not only seen within the public sector. The Thai manufacturing industry, the regions largest hub for automotive and electronics production, is seeing a clear move towards Industry 4.0 with increased automation and the use of IoT technologies in manufacturing,
The Fintech sector is also high on the agenda for digitalization with commercial banks, telecom providers as well as retailers modernizing to meet with demands from tech-savvy Thai consumers.
Swedish companies should have local presence or establish a strong partnership with Thai companies
Thailand is currently undergoing a fast development within digital technologies and for Swedish companies with solutions in this sector it is important to closely monitor the trends and investment plans, both for public enterprises and private conglomerates and enterprises. As it is important to have people on the ground, it will be key for Swedish companies to find good partners or establish local presence in Thailand. Moreover, a thorough understanding for public procurement processes and mapping of key stakeholders will be important to be successful on the Thai market.