Somkid meets US envoy to woo investors for Thai Silicon Valley, EEC

[webfact]

Somkid meets US envoy to woo investors for Thai Silicon Valley, EEC

By THE NATION

 

Somkid Jatursripitak

 

Deputy Prime Minister Somkid Jatursripitak met US Ambassador Michael George DeSombre on Thursday (July 2) to talk about developing an economic collaboration between the two countries.

 

“I told him [DeSombre] to focus on our country, because geographically we are at the centre of the region, and once the Eastern Economic Corridor [EEC] is ready in 2021, our nation will be even more outstanding,” Somkid said.

 

The deputy PM also told the envoy that Thailand’s capital market was similar to that of Singapore, because the Stock Exchange of Thailand has built connections with China and Hong Kong’s stock markets.

 

“I also told him that our nation is focusing on improving service and technology industries, and we want the US to invest in our version of the Silicon Valley, which will be located in the EEC,” Somkid said, adding that Washington should also consider investing in start-ups, research centres and educational institutes.

 

DeSombre responded by commending Thailand’s ability to build a huge supply chain for industrial production.

 

Michael George DeSombre (left) and Somkid (right)

 

Meanwhile, the Board of Investment (BoI) reported that the government has launched the “Thailand Digital Valley” project covering 30 rai in Chonburi’s Sri Racha district. This operation aims to build another national digital hub apart from Bangkok, Chiang Mai and Phuket, and will also serve as a platform for smart cities as well as help digitise the EEC industrial section.

 

In order to draw investment for the digital valley, BoI is offering special privileges such as 50 per cent reduction in corporate tax for two years. BoI is also promoting the valley as a digital ecosystem, complete with 5G, as well as offering investors opportunities to collaborate with the Geo-Informatics and Space Technology Development Agency (GISTA).

 

Source: https://www.nationthailand.com/news/30390694

 

-- © Copyright The Nation Thailand 2020-07-03

 

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[Darkside Gray]

I did not know Thailand had a silicon valley lots of silicon humps but not a valley!

[DrTuner]

The thing that powers silicon valley is immigrants. So how about them PR's and waiving work permits and land ownership and and and ..

 

Or just call it Somchai Valley.

[natway09]

This may be attractive to the US at present as they want to reduce their reliance on China.

Heard yesterday that one of the elaborate control digital panels on some weapons in the US arsenal

are made solely in China. Interesting 

 

[KhaoNiaw]

The US ambassador, a political appointee, also refused to wear a mask.

[RichardColeman]

With Thailand close links to China now, I think this is dead in the water before it even starts if minor components have to come from China

[sammieuk1]

Think he means Mr Woo but got the wrong country ????

[StayinThailand2much]

On 7/3/2020 at 3:20 AM, webfact said:

Thai Silicon Valley

'Thai Silicon Valley' - is that a thing? Oh, maybe he meant 'Silicone Valley'... ????

 

[Redline]

There is no good reason to invest in Thailand 

[timendres]

Thai Silicon Valley. How will they manage the coming tsunami of investors?

[timendres]

[CGW]

On 7/4/2020 at 2:59 AM, KhaoNiaw said:

The US ambassador, a political appointee, also refused to wear a mask.

Good to see the "mask" police are awake and on duty, great observation ????

[Redline]

15 hours ago, timendres said:

Thai Silicon Valley. How will they manage the coming tsunami of investors?

I’m not sure, but they better make sure the early warning system is working properly 

[Oziex1]

I hope they can work something out as the dependence on tourism is not working too well at present.