2023 September

In 2022, Thailand’s digital industry soared to a value of Bt2.6tn, a remarkable 14% surge from the previous year, as revealed by a joint survey conducted by the Digital Economy Promotion Agency (Depa) and the IMC Institute. This thriving sector comprises five key segments: software, hardware and smart devices, digital services, telecommunication, and digital content, collectively underpinning Thailand’s dynamic digital economy.

Consumer confidence improved after a new government was finally formed months after the May 14 general election, increasing to 56.9 from in August from 55.6 in July, according to the University of the Thai Chamber of Commerce.

In August, the year-on-year inflation rate experienced a notable uptick, climbing by 0.88%. This increase can be attributed to the significant rise in fuel prices, which subsequently had a cascading effect on the cost of food. During the same period, FETCO, the Federation of Thai Capital Market Organizations, conducted a comprehensive survey revealing a remarkable surge of 69.3% in investor confidence.

The IEAT has partnered with six Thai and Japanese companies to explore hydrogen fuel applications in the Map Ta Phut and Smart Park industrial estates in Rayong. This collaboration supports global climate change mitigation efforts, promotes carbon neutrality, and attracts investors interested in clean energy solutions for electricity and transportation. The IEAT plans to import hydrogen for use in transportation and logistics within these industrial complexes, covering 6,949 rai in Map Ta Phut and 1,383 rai in Smart Park, serving the Eastern Economic Corridor’s S-curve industries.