Sustainability Expo 2024 to Spotlight Climate Action and Future Challenges
The 5th edition of the Sustainability Expo (SX2024), ASEAN’s largest sustainability trade show, is set to take place from September 27 to October 6 at Bangkok’s Queen Sirikit National Convention Centre. Operating under the theme “Good Balance, Better World,” the event aims to raise awareness and inspire immediate action on climate change. The expo will cover a wide range of topics, including the ageing population, circular economy, and social inclusion, said Tongjai Thanachanan, director of the SX Organising Committee. Organisers anticipate a substantial increase in attendance, targeting 500,000 visitors compared to 300,000 last year.
The expo will span 70,000 square meters and feature 10 zones highlighting various sustainable practices. With the participation of international exhibitors and partners, SX2024 continues to build on the success of the past four editions. The event, founded by five leading companies in partnership with the Thailand Supply Chain Network, has evolved into a business-to-consumer-to-business (B2C2B) platform, offering companies an opportunity to enhance their visibility and engagement with a broader audience.
https://www.nationthailand.com/business/corporate/40041428
Editor’s Note: The 5th edition of the Sustainability Expo (SX2024) will be held from September 27 to October 6 at Bangkok’s Queen Sirikit National Convention Centre, aiming to inspire climate action under the theme “Good Balance, Better World.” With a target of 500,000 visitors, the expo will showcase 10 zones dedicated to various sustainable practices, featuring international exhibitors and fostering engagement between businesses and consumers.
WHA Corp Gears Up for ASEAN Investment Boom, Expands Land Sales Target
WHA Corp, Thailand’s largest industrial estate developer, has announced an aggressive plan to attract foreign investment in the second half of 2024, expecting a surge in demand driven by global relocation trends and geopolitical shifts. CEO Jareeporn Jarukornsakul outlined the company’s strategy, citing an upcoming “golden era” for ASEAN over the next 1-2 years, with significant investments from China, Taiwan, and the U.S. in industries like EVs, semiconductors, and supply chains. WHA has raised its land sales target for 2024 to 2,500 rai and is negotiating deals covering over 1,000 rai of land by year-end.
In addition to its industrial estate expansions, WHA is pursuing major initiatives in logistics, utilities, clean energy, and digital transformation. The company plans to develop six new industrial estates and is expanding its green logistics solution, Mobilix, which includes EV rentals and charging stations. WHA also aims to increase its clean energy capacity to 472 megawatts and expand its water and wastewater treatment plants, particularly in Vietnam. Jareeporn stressed the need for the Thai government to promote investment beyond the Eastern Economic Corridor, highlighting the potential of the Southern Economic Corridor and the Land Bridge project.
https://www.nationthailand.com/business/corporate/40041426
Editor’s Note: WHA Corp, Thailand’s largest industrial estate developer, is ramping up efforts to attract foreign investment, setting a land sales target of 2,500 rai for 2024 in anticipation of a “golden era” for ASEAN. CEO Jareeporn Jarukornsakul emphasized the importance of diversifying investment promotion beyond the Eastern Economic Corridor, highlighting upcoming initiatives in logistics, clean energy, and digital transformation.
TrueBusiness and Intel Partner to Revolutionize Thai Healthcare with AI and 5G
TrueBusiness has partnered with global tech leader Intel to transform Thailand’s healthcare sector into a fully digital ecosystem. Announced by Pichit Thanyodom, True Corporation’s chief business officer, the collaboration will leverage True’s 5G network and Intel’s advanced AI technologies to introduce seven new smart healthcare solutions aimed at improving diagnosis, treatment, rehabilitation, and patient data management. These innovations are set to enhance the efficiency and cost-effectiveness of Thailand’s healthcare system, positioning the country as a competitive medical hub in Southeast Asia and improving health outcomes for Thai citizens.
Intel’s country manager Chantana Suwannawong and regional Health and Life Sciences Sales Lead George Tai highlighted the deployment of Intel’s AI-powered solutions like OpenVino, enabling real-time patient care through 5G and edge analytics. The integration of AI will support diagnosis accuracy, streamline treatment processes, and reduce medical costs. The strategic partnership aims to bring scalable, secure, and sustainable AI applications to Thailand’s healthcare market, with AI being used in key areas such as medical data management, preventive care, and rehabilitation, ultimately improving patient outcomes and operational efficiency in hospitals.
https://www.nationthailand.com/business/corporate/40041218
Editor’s Note: TrueBusiness has partnered with Intel to revolutionize Thailand’s healthcare sector by leveraging 5G and advanced AI technologies, introducing seven smart healthcare solutions to enhance diagnosis, treatment, and patient data management. This collaboration aims to improve the efficiency and cost-effectiveness of the healthcare system, positioning Thailand as a competitive medical hub in Southeast Asia while significantly boosting health outcomes for its citizens.
EVAT Welcomes New Leadership to Drive Thailand’s EV Hub Ambitions
The Electric Vehicle Association of Thailand (EVAT) has appointed Suroj Sangsanit, vice president of SAIC Motor-CP, as its new president, succeeding Krisda Utamote. Under Suroj’s two-year term starting in July 2024, EVAT aims to strengthen Thailand’s position as a manufacturing and export hub for electric vehicles (EVs) in Southeast Asia. With over 390 members from various sectors, EVAT focuses on advancing EV technology, supporting regulatory standards, and fostering partnerships to enhance the country’s EV industry within the global supply chain.
Key leaders within EVAT, including Uthen Supatti and Siamnut Phanasorn, have emphasized the importance of developing skilled human resources and supporting the government’s 30@30 policy, which aims to ensure that 30% of Thailand’s auto production consists of EVs by 2030. The association is working closely with the Board of Investment (BOI) and the Thai Automotive Parts Manufacturers Association to attract foreign investment and support infrastructure development. With companies like PTT planning to expand the network of charging stations nationwide, Thailand is positioning itself to meet growing consumer demand for electric vehicles.
https://www.nationthailand.com/blogs/business/automobile/40041239
Editor’s Note: The Electric Vehicle Association of Thailand (EVAT) has appointed Suroj Sangsanit as its new president, aiming to enhance Thailand’s role as a manufacturing and export hub for electric vehicles in Southeast Asia. With a focus on advancing EV technology and developing skilled human resources, EVAT is collaborating with key stakeholders to support the government’s 30@30 policy and attract foreign investment for infrastructure development.
Thailand Braces for Virtual Banking Disruption as Five Consortiums Compete for Licences
As Thailand moves towards a new era of digital disruption in financial services, five consortiums are vying for three virtual banking licences, set to be awarded by the Bank of Thailand, with services expected to launch by mid-2026. Major players, including SCB X, TrueMoney (CP Group), and Gulf Energy in partnership with Krungthai Bank, are among the bidders. Despite the excitement, traditional banks like Kasikornbank and Kiatnakin Phatra Bank remain unfazed, arguing that their current mobile banking services are similar to those offered by virtual banks. Kasikornbank CEO Kattiya Indaravijaya stated the bank is not pursuing a licence, as it is already reaching underserved groups via digital subsidiaries.
The rise of virtual banks is expected to benefit Thailand’s 2.9 million small and medium enterprises (SMEs) and the estimated 63% of the population who are either unbanked or underbanked. While virtual banks promise increased financial access for these groups, traditional lenders, including TISCO Group, acknowledge the potential for greater competition and innovation in the market. However, they also highlight the significant financial risks involved in serving these high-risk segments, noting that virtual banks will require substantial capital to succeed.
https://www.nationthailand.com/business/banking-finance/40041526
Editor’s Note: As Thailand prepares for a digital transformation in banking, five consortiums, including SCB X and TrueMoney, are competing for three virtual banking licenses expected to launch by mid-2026. While traditional banks like Kasikornbank remain confident in their existing mobile services, the rise of virtual banks is anticipated to enhance financial access for underserved SMEs and populations, despite the substantial capital and risks involved in serving these segments.
EGAT Highlights Digital Platform’s Role in Expanding Thai EV Ecosystem
The Electricity Generating Authority of Thailand (EGAT) has emphasized the importance of its digital platform, BackEN EV, in supporting the country’s growing electric vehicle (EV) ecosystem. The platform, combined with the EleXa smartphone app, allows EV charging station operators to manage real-time data, financial reports, and billing while enhancing station visibility for customers. EGAT, which currently operates 190 EleX charging stations and supports an additional 90 stations, is working with partners to expand the nation’s EV infrastructure. Entrepreneurs can invest between 200,000 and 2 million baht to set up charging stations, depending on their size and type.
EGAT’s head of EV business solutions, Pichit Phongprasert, noted that while current profits from charging stations remain modest, the situation is expected to improve as awareness of charger availability increases. He added that EGAT’s platforms help reduce the cost burden for entrepreneurs, especially as competition has driven down the price of EV chargers from China and Europe. However, Pichit warned that low-quality chargers, typically covered by only a two-year warranty, pose risks for operators, stressing the importance of high-quality chargers for long-term reliability.
https://www.nationthailand.com/business/tech/40041441
Editor’s Note: The Electricity Generating Authority of Thailand (EGAT) is highlighting its digital platform, BackEN EV, as crucial for expanding the country’s electric vehicle ecosystem by enabling charging station operators to manage data and enhance visibility for customers. While current profits from charging stations are modest, EGAT’s head of EV business solutions, Pichit Phongprasert, anticipates improvements as charger awareness grows, emphasizing the need for high-quality equipment to ensure long-term reliability amidst competitive pricing pressures.
Thailand Competes with Vietnam and Singapore for Semiconductor Dominance in Southeast Asia
As competition intensifies in Southeast Asia’s semiconductor industry, Thailand is gearing up to attract global chip manufacturers, vying against Vietnam and Singapore. The Thai Board of Investment (BOI) has proposed new measures to fast-track investments in the semiconductor and battery sectors, aiming to lure major players from the US and Europe. BOI Secretary-General Narit Therdsteerasukdi revealed plans to establish a “Semiconductor Board” to oversee industry growth and secure foreign investments. Meanwhile, Vietnam is pushing its Digital Technology Industry law, offering significant incentives, such as tax rebates and free land use, to entice chipmakers like Nvidia and Besi.
Singapore, already a regional leader in semiconductors, is further strengthening its position following discussions with Indian Prime Minister Narendra Modi. The two nations signed agreements to boost cooperation in semiconductors, with Singapore supporting India’s chip industry while deepening its foothold in global supply chains. Despite its small size and higher operational costs, Singapore contributes 10% of global chipmaking output and 20% of semiconductor manufacturing equipment production, maintaining its competitive edge in the rapidly evolving market.
https://www.nationthailand.com/business/investment/40041227
Editor’s Note: As Thailand competes with Vietnam and Singapore for semiconductor dominance in Southeast Asia, the Thai Board of Investment (BOI) is implementing measures to attract global chip manufacturers, including the establishment of a “Semiconductor Board” to facilitate foreign investments. Meanwhile, Vietnam is leveraging significant incentives to entice chipmakers, and Singapore continues to solidify its leadership in the sector through strategic agreements, highlighting the intensifying competition in this critical industry.
Vietnam and U.S. Strengthen Partnership to Boost Semiconductor Industry
Vietnam and the United States have joined forces to propel Vietnam’s semiconductor sector, marking a significant step toward making it a core industry for the nation. The collaboration was launched at the ‘ITSI Semiconductor ATP Workforce Accelerator Kick-Off Session’ held in Ho Chi Minh City from September 16 to 18. Organized by the U.S. International Technology Security and Innovation (ITSI) Fund and the U.S. Department of State, the event focused on workforce development, highlighting the importance of building a high-quality talent pool to meet the needs of Vietnam’s rapidly growing semiconductor industry.
Key workshops, including ‘Crafting Vietnam’s Semiconductor ATP Workforce Strategy,’ brought together leaders from various ministries, universities, and global tech companies to discuss the training and skill development necessary to support Vietnam’s semiconductor goals through 2030 and beyond. By 2025, the ITSI Fund aims to train 120 instructors and 4,000 students, equipping Vietnam with a skilled workforce to meet the industry’s future demands. U.S. Ambassador Marc Knapper emphasized the program’s importance in fostering long-term partnerships between the two nations, helping Vietnam’s semiconductor sector thrive on the global stage.
Editor’s Note: Vietnam and the United States have launched a partnership to enhance Vietnam’s semiconductor industry, focusing on workforce development during the ‘ITSI Semiconductor ATP Workforce Accelerator Kick-Off Session’ in Ho Chi Minh City. With the aim of training 120 instructors and 4,000 students by 2025, this collaboration emphasizes building a skilled talent pool to support Vietnam’s semiconductor goals and strengthen long-term ties between the two nations.
U.S. Launches Innovation Fund in Vietnam to Boost Semiconductor Industry
The United States has officially launched the International Technology Security and Innovation (ITSI) Fund in Vietnam, marking a key milestone in the countries’ growing partnership. Announced in Hanoi on September 11, 2024, the initiative aims to foster workforce development and public policy improvements in Vietnam’s semiconductor industry. Organized in collaboration with the U.S. Department of State, the U.S. Embassy, and Arizona State University, the launch commemorates the first anniversary of the U.S.-Vietnam Comprehensive Strategic Partnership. U.S. Ambassador Marc Knapper expressed confidence in the collaboration, predicting that Vietnam would become a significant player in the global semiconductor market in the coming years.
Vietnamese Minister of Planning and Investment Nguyen Chi Dung underscored the importance of the ITSI Fund in strengthening Vietnam’s role in the global semiconductor supply chain, emphasizing that semiconductors could become a cornerstone of U.S.-Vietnam relations. As one of eight strategic countries selected for this initiative, Vietnam aims to attract more international partners by developing its talent pool and innovation policies. The U.S. has awarded $13.8 million to Arizona State University to support talent development and provide policy recommendations in Vietnam and other nations.
Editor’s Note: The United States has launched the International Technology Security and Innovation (ITSI) Fund in Vietnam to enhance workforce development and public policy in the country’s semiconductor industry, commemorating the first anniversary of the U.S.-Vietnam Comprehensive Strategic Partnership. With a $13.8 million commitment to Arizona State University, the initiative aims to position Vietnam as a significant player in the global semiconductor market and strengthen its role in the international supply chain.
Indonesia’s CarbonEthics Secures $2.1M to Expand Climate Solutions
CarbonEthics, an Indonesian developer of natural climate solutions, has raised $2.1 million in a seed funding round led by Intudo Ventures, with additional backing from angel investors. The company plans to use the funds to acquire more carbon projects and bring in technical experts, aiming to manage 8 million hectares of land by 2030. Founded in 2019, CarbonEthics focuses on restoring blue carbon, peatland, and green ecosystems to help businesses lower their carbon emissions.
The new financing follows a $220,000 pre-seed round in 2023 supported by Spiral Ventures and Ecoxyztem. CarbonEthics has already conducted pre-feasibility studies for carbon projects across 4.2 million hectares, with the potential to offset over 1 million tonnes of CO2 emissions annually. The company’s efforts are a critical part of Indonesia’s push to address climate change and promote sustainable business practices.
https://www.techinasia.com/news/indonesias-carbonethics-secures-21m-climate-solutions
Editor’s Note: CarbonEthics, an Indonesian developer of natural climate solutions, has raised $2.1 million in a seed funding round led by Intudo Ventures to expand its efforts in managing carbon projects and restoring ecosystems. With plans to manage 8 million hectares of land by 2030, the company aims to help businesses reduce their carbon emissions, following a successful pre-seed round that established its capacity to offset over 1 million tonnes of CO2 annually.