Thailand is hoping to receive a major investment boost of at least $5 billion from tech giants Tesla, Google, and Microsoft, according to Prime Minister Srettha Thavisin. The announcement comes after Srettha’s recent meetings with top executives from these companies during his visit to the UN General Assembly in New York.
Tesla eyes EV factory in Thailand
Tesla, the world’s leading electric vehicle (EV) maker, is considering setting up an EV manufacturing facility in Thailand, as part of its expansion plans in Asia. Tesla CEO Elon Musk reportedly discussed the possibility with Prime Minister Srettha, who offered various incentives and support for the project.
Thailand is keen to attract Tesla, as it aims to become a regional hub for EVs and batteries. The country has been offering tax breaks and subsidies for EV makers and buyers, as well as developing charging infrastructure and renewable energy sources. Thailand currently has several EV and battery manufacturers operating in the country, such as BMW, Toyota, Nissan, LG Chem, and Energy Absolute.
Google and Microsoft plan data centers in Thailand
Google and Microsoft are also exploring the option of establishing data centers in Thailand, which would enhance the country’s digital infrastructure and cloud services. Both companies have expressed interest in investing in Thailand’s Eastern Economic Corridor (EEC), a special economic zone that offers various benefits and incentives for high-tech industries.
Prime Minister Srettha said that he had fruitful discussions with Google CEO Sundar Pichai and Microsoft CEO Satya Nadella, who praised Thailand’s potential and readiness for digital transformation. Srettha also said that he invited both companies to join the Digital Government Academy (DGA), a platform for collaboration and innovation between the public and private sectors.
A potential game-changer for Thailand’s economy
The projected $5 billion investment from Tesla, Google, and Microsoft could be a game-changer for Thailand’s economy, which has been struggling with the impact of the COVID-19 pandemic and declining exports. The investment could create thousands of jobs, boost innovation and productivity, and diversify the country’s economic base.
Prime Minister Srettha said that he was confident that these tech giants would make their decisions soon, as they recognized the opportunities and advantages of investing in Thailand. He said that his government would do its best to facilitate and support their investments, as well as to attract more foreign investors to the country.
