Thailand’s Digital Economy Promotion Agency (DEPA) expects Thailand’s digital industry to see double-digit growth this year, boosted by a strong digital service sector.
DEPA president Nuttapon Nimmanphatcharin said the digital industry is projected to reach 727 billion baht in value this year, up from 650.5 billion baht in 2020. The sector will achieve double-digit growth this year, as users continue to migrate to using digital services.
He said Thailand needs to ease the legal burden to attract foreign investment to continue momentum and innovation, as well as to support the Employee Stock Ownership Plan (ESOP) and amend the Foreign Business Act, to encourage the establishment of joint ventures by overseas companies.
Mr. Nuttapon added that the digital services sector has shown exponential growth, reflecting a consumer behavior shift under the “new normal”. Thailand’s digital industries are moving towards a more service-based economy. Meanwhile the workforce in the industry increased by 17.9% year-on-year to around 86,000 people mainly in the e-logistics business. (NNT)