ASEAN Biweekly News Updates Nov 1 – Nov 14

MacBook Named Thailand’s Top Brand in 2024 Superfans Survey; Experts Highlight AI's Expanding Role in Thailand’s Smart City Development; Thailand Attracts THB60 Billion Investment in Data Centres from US and China; Fitch Maintains Thailand’s 'BBB+' Rating, Forecasts 3.1% Economic Growth by 2025; Thai Finance Minister Urges Greater Use of Local Materials in Production; Thailand Eyes Digital Economy Growth Amid Global Tech Investments; Call for Increased Thai Investment in Next-Gen Wireless Infrastructure; Thailand Approves $2 Billion in Data Centre, Electronics Investments; Vietnam's Green Strategies to Attract More Foreign Investment in Industrial Parks; Vietnam and Taiwanese Tech Firms Explore Smart City Cooperation; Indonesia Plans 75 GW of Renewable Energy by 2039

MacBook Named Thailand’s Top Brand in 2024 Superfans Survey
MacBook 在 2024 年超級粉絲調查中被評為泰國最佳品牌

Apple Inc.’s MacBook has emerged as the top brand in Thailand, securing the highest Superfans Index (SPI) score of 57.72% in the Thailand Brand Superfans 2024 survey. The results were announced at the Bangkok International Branding Festival (BIBF) 2024, showcasing the laptop’s popularity over other strong contenders, such as Dettol shower cream (50%) and HP laptops (49.3%).

The survey, conducted by Baramizi Group, assessed 21 product groups and gathered responses from 24,000 consumers aged 18-65, based on indicators including business performance, brand power, and industry growth. Meanwhile, in the property sector, AP Thailand led the rankings with an estimated brand value of 11.27 billion baht, followed by SC Asset and Sansiri.

https://www.nationthailand.com/business/corporate/40043024

小編點評:蘋果 MacBook 在 2024 年超級粉絲調查中被評為泰國最佳品牌,獲得了 57.72% 的最高超級粉絲指數得分,領先於滴露沐浴露和惠普筆記型電腦等競爭者。這項由 Baramizi Group 進行的調查根據品牌影響力、業務績效和行業增長對 21 個產品組進行了評估,其中 MacBook 在消費者忠誠度方面處於領先地位。.

Experts Highlight AI’s Expanding Role in Thailand’s Smart City Development
專家強調人工智慧在泰國智慧城市發展中不斷擴大的作用

During the “Thailand Smart City Expo 2025” seminar hosted by PostToday and Springnews, experts emphasized that smart city initiatives must prioritize eco-friendliness, transparency, and enhanced quality of life. Chula Sukmanop, secretary-general of the Eastern Economic Corridor Office (EECO), highlighted plans to integrate AI and digital platforms in developing the EEC Capital City to foster an environmentally friendly ecosystem and attract foreign investment in bio-circular-green industries.

Bangkok governor Chadchart Sittipunt noted the successful use of AI in the Traffy Fondue app to improve administrative efficiency and transparency in the capital. Digital Economy and Society Minister Prasert Jantararuangthong discussed the government’s commitment to digital growth and smart city projects, including the City Data Platform, which will support the development of 175 cities nationwide through AI-driven advancements in transport, energy, and planning.

https://www.nationthailand.com/business/tech/40043236

小編點評: 在「2025年泰國智慧城市博覽會」上,專家強調人工智慧在塑造生態友善、透明、宜居的智慧城市方面發揮越來越大的作用。 EECO 的 Chula Sukmanop 概述了將人工智慧和數位平台整合到 EEC 首都的計劃,以吸引對永續產業的投資。同時,曼谷市長 Chadchart Sittipunt 強調了人工智慧在改善城市管理方面的成功,部長 Prasert Jantararuangthong 也分享了政府利用人工智慧促進全國 175 個城市城市發展的承諾。

Thailand Attracts THB60 Billion Investment in Data Centres from US and China

The Board of Investment (BOI) has approved investments worth over 60 billion baht for two major data centre projects in Thailand. Quartz Computing, a subsidiary of Alphabet Inc., will invest 32.76 billion baht to build a data centre in Chonburi province, aligning with Google’s plans for regional cloud services. This facility, set to open in early 2027, will be Google’s fifth in Asia.

China’s GDS, through its subsidiary Digitalland Services, plans to invest 28 billion baht in another data centre also located in Chonburi, aiming to commence operations in 2026. Both hyperscale data centres are expected to boost data processing capabilities and expand cloud services across ASEAN. BOI secretary-general Narit Therdsteerasukdi stated that these projects would strengthen Thailand’s digital infrastructure and facilitate the digital transformation of the public and private sectors.

https://www.nationthailand.com/business/tech/40042890

Editor’s Note: Thailand has secured over 60 billion baht in investments for two major data centre projects, with Quartz Computing (a subsidiary of Alphabet Inc.) investing 32.76 billion baht and China’s GDS investing 28 billion baht, both in Chonburi. These hyperscale data centres, set to boost cloud services across ASEAN, will enhance Thailand’s digital infrastructure and support the country’s broader digital transformation goals.

Fitch Maintains Thailand’s ‘BBB+’ Rating, Forecasts 3.1% Economic Growth by 2025

Fitch Ratings has affirmed Thailand’s long-term foreign-currency issuer default rating (IDR) at ‘BBB+’ with a stable outlook, highlighting the country’s robust external financial position and sound macroeconomic policy. However, it pointed out challenges such as lower per capita income and weaker World Bank Governance Indicator scores compared to peers. The ratings agency foresees a gradual stabilization of Thailand’s government debt metrics, contingent on the government’s commitment to fiscal consolidation after FY25.

Fitch predicts that Thailand’s economy will grow by 3.1% in 2025, up from an estimated 2.6% in 2024. This growth is expected to be driven by a full recovery in tourism, increased government spending, and stronger private consumption. The firm noted that an increase in budget expenditure for FY25 and improvements in capital budget disbursement will support domestic demand. Nonetheless, downside risks such as weaker global demand, geopolitical tensions, and potential US trade policy shifts remain concerns for future growth.

https://www.nationthailand.com/business/economy/40043129

Editor’s Note: Fitch Ratings has affirmed Thailand’s ‘BBB+’ rating with a stable outlook, citing the country’s strong external financial position and sound macroeconomic policies, though noting challenges like lower per capita income. The agency forecasts a 3.1% economic growth in 2025, driven by a recovery in tourism, higher government spending, and stronger private consumption. However, Fitch also highlighted risks such as weaker global demand and geopolitical tensions that could impact future growth.

Thai Finance Minister Urges Greater Use of Local Materials in Production

Finance Minister Pichai Chunhavajira, in his role as Board of Investment (BoI) chairman, is advocating for businesses to increase the use of Thai raw materials and promote Thai ownership in supply chain companies in exchange for BoI privileges. Pichai emphasized the need to strengthen the existing local content requirements, particularly in downstream industries, to ensure that products made in Thailand are classified as domestically produced. He highlighted that while many foreign investors, especially from China, have been drawn to Thailand due to the US-China trade war, it is crucial to enhance local content and ownership in production to maximize the benefits.

The BoI recorded a 43% surge in investment applications in 2023, reaching 848 billion baht, with China leading as the largest investor. Efforts are underway to boost the local content ratio in production from 40% to over 60%, particularly in the electric vehicle (EV) sector. Initiatives like the recent partnership between the BoI and Chinese EV manufacturer GAC AION aim to integrate Thai parts manufacturers into the EV supply chain, positioning Thailand as a key EV production hub in ASEAN and fostering joint ventures and technology transfers that benefit both local and foreign stakeholders.

https://www.bangkokpost.com/business/general/2900517/investors-urged-to-use-more-thai-raw-materials-in-production

Editor’s Note: Thailand’s Finance Minister Pichai Chunhavajira is urging businesses to increase the use of local materials and promote Thai ownership in production to strengthen the country’s supply chain and qualify for Board of Investment (BoI) privileges. With a 43% rise in investment applications in 2023, the BoI aims to boost local content, especially in sectors like electric vehicles, positioning Thailand as a key EV hub in ASEAN while fostering joint ventures and technology transfers.

Thailand Eyes Digital Economy Growth Amid Global Tech Investments

Thailand’s Prime Minister Paetongtarn Shinawatra announced plans to implement new digital policies aimed at boosting the digital economy to comprise 30% of GDP by 2030 and enhancing cyber security. Speaking at the National Defence College, she emphasized that these measures are essential for addressing emerging security threats, including the economic impacts of US-China rivalry. The government is also focusing on applying artificial intelligence to bolster the agricultural sector and increase exports to China.

The country’s robust digital strategy has attracted significant foreign investment, positioning Thailand as a key tech hub in Southeast Asia. Investments include a regional data centre by Microsoft and a $1 billion investment from Google in cloud infrastructure. Additionally, Amazon’s cloud computing unit is set to invest $5 billion over the next 15 years. This wave of investment comes as global tech companies compete for market presence in a region characterized by its young, tech-savvy population and strategic economic opportunities.

https://www.business-standard.com/world-news/thailand-to-pursue-new-policies-to-boost-protect-digital-economy-124110800719_1.html

Editor’s Note: Thailand’s Prime Minister Paetongtarn Shinawatra has unveiled new digital policies aimed at making the digital economy 30% of GDP by 2030, with a focus on enhancing cybersecurity and addressing global economic challenges. The country’s strategic push to integrate AI into sectors like agriculture and increase exports to China has attracted major foreign investments, including Microsoft’s regional data centre and Google’s $1 billion cloud infrastructure project. With tech giants like Amazon also investing heavily, Thailand is positioning itself as a key tech hub in Southeast Asia, driven by its youthful, tech-savvy population.

Call for Increased Thai Investment in Next-Gen Wireless Infrastructure

Andres Vicente, head of Southeast Asia, Oceania, and India at Ericsson, has urged the Thai government to prioritize investments in next-generation digital infrastructure for 2.1GHz, 2.3GHz, and 3.5GHz wireless services to boost the telecom industry and economy. Vicente suggested a balanced approach to spectrum fees, proposing lower or zero fees with conditions on rapid infrastructure deployment to ensure widespread coverage. This strategy, he argued, would facilitate early technology adoption and generate incremental revenue from enhanced productivity that benefits the government.

Citing international examples, Vicente highlighted how low spectrum fees have driven 5G adoption in countries like China and the US. In Australia, telecom operators profit by providing services to rural schools, funded by local governments to ensure inclusivity. Implementing similar policies in Thailand could accelerate digital growth and ensure equitable access to advanced telecommunications.

https://www.bangkokpost.com/business/investment/2898296/call-for-more-thai-wireless-investments

Editor’s Note: Ericsson’s Andres Vicente has called on the Thai government to invest in next-gen wireless infrastructure and adopt a balanced approach to spectrum fees, including lower or zero charges tied to rapid deployment. Drawing on international examples, he emphasized that such policies could accelerate 5G adoption, boost productivity, and ensure equitable access to advanced telecom services across Thailand.

Thailand Approves $2 Billion in Data Centre, Electronics Investments

Thailand’s Board of Investment (BOI) has approved $2 billion in new investments to boost its data centre and electronics sectors. Notably, the approvals include a significant 32.8-billion-baht ($968.12 million) investment by a subsidiary of Alphabet Inc., aimed at establishing a hyperscale data centre in the country, enhancing its role as a digital hub in Southeast Asia.

Additionally, US-based cloud service provider Equinix announced plans to invest $500 million over the next decade to develop data centres in Thailand. This strategic move is expected to cater to growing customer demand across the CLMVT region, encompassing Cambodia, Laos, Myanmar, Vietnam, and Thailand, as the Mekong subregion continues to expand its digital infrastructure.

https://www.bangkokpost.com/business/investment/2894278/thailand-approves-2bn-worth-of-investments-in-data-centres-electronics

Editor’s Note: Thailand’s Board of Investment (BOI) has approved $2 billion in new investments to strengthen its data centre and electronics sectors, including a 32.8-billion-baht investment by an Alphabet Inc. subsidiary to build a hyperscale data centre. US-based Equinix also announced plans to invest $500 million over the next decade to expand its data centre presence in Thailand. These investments aim to meet growing demand in the CLMVT region and solidify Thailand’s position as a key digital hub in Southeast Asia.

Vietnam’s Green Strategies to Attract More Foreign Investment in Industrial Parks

Vietnam’s industrial parks are ramping up sustainable practices to maintain their appeal to foreign direct investment (FDI) amidst the global shift towards low-carbon economies. With 425 industrial parks covering approximately 89,200 hectares, the Ministry of Planning and Investment has proposed a draft law focused on modernizing these parks to align with green economic growth. Emphasizing the use of clean energy and smart technologies, this strategy aims to enhance the country’s competitiveness and attract investments in sectors like the digital economy and semiconductors.

Key recommendations from energy experts, such as SP Group, highlight the importance of solar energy adoption, district cooling systems, and smart microgrid solutions. Harnessing Vietnam’s equatorial location for solar power could lower carbon emissions and reduce operational costs. District cooling systems centralize energy use to improve efficiency, while microgrids ensure reliable, optimized energy distribution. These initiatives are expected to advance Vietnam’s net-zero targets and strengthen its position as an attractive hub for FDI.

https://vccinews.com/news/58627/three-%E2%80%9Cgreen%E2%80%9D-keys-to-boost-fdi-for-vietnam%E2%80%99s-industrial-parks.html

Editor’s Note: Vietnam is enhancing its industrial parks with sustainable practices to attract more foreign investment, focusing on clean energy and smart technologies to boost competitiveness in sectors like the digital economy and semiconductors. Key recommendations, such as solar energy adoption and district cooling systems, aim to reduce carbon emissions, lower costs, and align with the country’s net-zero targets, positioning Vietnam as a leading FDI hub.

Vietnam and Taiwanese Tech Firms Explore Smart City Cooperation

HCM CITY — A seminar on “How Does Smart Tech Shape a Smart City” in HCM City brought together Vietnamese and Taiwanese tech firms to discuss the development of smart cities using advanced technologies such as 5G, AI, and IoT. Organized by the HCM City Computer Association (HCA) and the Taiwan Institute for Information Industry, the event focused on topics like intelligent environmental monitoring, carbon emission reduction, and customizable energy platforms. Võ Minh Thành, deputy director of the city’s Department of Information and Communications, highlighted the immense opportunities and challenges in creating smart cities, stressing the need for responsible technological integration to address urbanization impacts.

The seminar featured a delegation of seven leading Taiwanese tech companies and included discussions with two major Vietnamese firms, Viettel and VNPT, to explore collaboration opportunities. HCA vice chairman Hoàng Minh Anh Tú emphasized the transformative role of smart technology in urban development, particularly in sectors like transportation, healthcare, and education. The event aimed to strengthen cooperation and share practical solutions, fostering a sustainable ecosystem for smart city development in HCM City.

https://vietnamnews.vn/economy/1667067/vn-taiwanese-tech-firms-discuss-cooperation-for-smart-city-development.html

Editor’s Note: A seminar in HCM City brought together Vietnamese and Taiwanese tech firms to explore smart city development using technologies like 5G, AI, and IoT. Discussions focused on environmental monitoring, carbon reduction, and energy platforms, with input from companies like Viettel and VNPT, as well as Taiwanese firms. The event highlighted the transformative potential of smart technology in urban sectors such as transportation, healthcare, and education, aiming to foster sustainable solutions for HCM City’s smart city initiatives.

Indonesia Plans 75 GW of Renewable Energy by 2039

Indonesia is set to offer international investors opportunities to build 75 gigawatts (GW) of renewable energy capacity over the next 15 years, according to Hashim Djojohadikusumo, the country’s climate envoy. This commitment was announced during the COP29 summit in Baku, Azerbaijan, and aligns with Indonesia’s broader plan to reach carbon neutrality by 2060. The renewable projects will encompass solar, hydro, geothermal, and nuclear energy, marking a significant shift away from coal power, which currently accounts for over half of the country’s energy supply.

Indonesia, one of the world’s largest greenhouse gas emitters, intends to develop a total of 100 GW of new energy capacity, with 75 GW dedicated to renewables. Additionally, state-owned utility Perusahaan Listrik Negara is working on a new 70,000 km green transmission line to support this transformation. Despite the country’s renewable energy potential, analysts have pointed out that subsidies for coal have made it difficult for renewables to compete, hindering previous progress. Indonesia also plans to introduce carbon offset projects to reduce millions of metric tons of carbon emissions, though details remain unclear.

https://www.reuters.com/business/energy/indonesia-build-75-gw-renewable-energy-next-15-years-cop29-envoy-says-2024-11-12/#:~:text=JAKARTA%2C%20Nov%2012%20(Reuters),sidelines%20of%20the%20COP29%20summit

Editor’s Note: Indonesia plans to develop 75 GW of renewable energy capacity by 2039, as part of its broader goal to achieve carbon neutrality by 2060. The projects, spanning solar, hydro, geothermal, and nuclear energy, will help shift the country away from coal, though challenges like coal subsidies and competition with renewable energy remain.