The IoT Institute will be an anchor tenant at the Digital Park Thailand that is now being constructed in the country’s Si Racha district in Chonburi, according to the Digital Economy Promotion Industry (DEPA).
Digital Park Thailand is a flagship project under Thailand’s Eastern Economic Corridor, which is aimed at creating an ecosystem conducive the development of technology-oriented innovations.
It is envisioned to become the digital and innovation hub of the ASEAN sub-region.
The President and CEO of DEPA noted that Park seeks to attract more than 100,000 digital ecosystem developers into Thailand to help with the movement.
It was also noted that digital ecosystem developers don’t only mean programmers and developers, but also cover non-tech business and enablers that will help drive the digital ecosystem.
Thailand 4.0 is the country’s goal and target of how to move forward and progress the economy; from its traditional OEM (Original Equipment Manufacturer) to a nation that produces higher-value services and products.
With an earmarked invested of US$160 million, Digital Park Thailand is now on the second phase of the four-year construction that ends in 2021.
The park with a total area of approximately 160,000 square metres will be a complete community that will include a planned transportation network (airport, seaport, high-speed rail etc), a technology-oriented university and new cities.
Thailand Digital Valley
The planned IoT Institute will be located inside the park’s Thailand Digital Valley, a 48,000 square meter area managed by DEPA which will serve as the centre of innovation for the whole Thailand Digital Park.
IoT, as well as artificial intelligence, will be the key technologies for development at the digital valley. The IoT Institute hopes to nurture a community of start-ups and tech investors that will take the product of Thai R&D into the global stage.
Besides The IoT Institute, the Thailand Digital Valley is comprised of five buildings:
- Building 1: office building
- Building 2: 1st IoT building (Digital Startups and Co-Working Centre)
- Building 3: 2nd IoT building (Digital Innovation and Co-Creation Centre)
- Building 4: 3rd IoT building (Digital Edutainment Complex)
- Building 5: 4th IoT building (Digital Global Connect)
If all goes as planned, least 30,000 jobs for the community will be generated.
According to another report, DEPA is pushing on with the future of Thailand’s digital innovation, spearheading its efforts with Thailand Digital Park and IoT Institute.
A government agency under the Ministry of Digital Economy and Society, DEPA aims to provide tactical promotions to help support, develop, and drive the overall Digital Development Master Plan and infrastructure plan of the country.
DEPA will anchor this mega project with its own four buildings (named the IoT Institute) in the Thailand Digital Park and will act as the main facilitator to help drive innovation to the area. The first building’s tenants from various industries are a direct result of last year’s Ministry of Digital Economy and Society’s and DEPA’s international roadshows to the USA, China, Korea, Japan, India, and Taiwan.
The aim of the IoT Institute is to house and showcase innovation from Thailand and Thailand’s joint partners for international investors to come in and work with us to develop it further.
With the assistance of DEPA, innovators and investors can implement successful businesses, to be able to access the local Thai market and expand to other ASEAN markets as well.
The Director of IoT and Digital Innovation Institute shares DEPA offers the monetary tax incentives, such as 8 to 13-year corporate tax exemption, plus the flat 17% personal tax rates for expats, it is believed that the intangible incentives are what set this project apart.