True sets Bt20 bn for first digital hub

It will also spend an additional Bt1.5 billion in the installation of telecommunications infrastructure in the park

Suphachai said the project would be the first digital hub in Southeast Asia established by the private sector.
It can accommodate 20,000 people working at the rented spaces, covering 200,000 square metres of the Whizdom 101 residential complex, a project of Magnolia Quality Development Corporation (MQDC) on Sukhumvit Road, which is currently under construction and expected to be complete by mid-2018.
The total area of the complex is 43 rai. MQDC’s total investment in the complex is Bt30 billion, but True has signed a contract to lease the 200,000sqm area for 15 years for a total of Bt20 billion.
MQDC is a property company run by some members of the Chearavont Chearavanont family.
Deputy Prime Minister Somkid Jatusripitak said at a True press conference yesterday on the True Digital Park that the digital-hub project would be part of the government’s plan to take Thailand to the forefront of the digital world.
“The government has only one year left, so we plan to invest in digital infrastructure networks to serve the digital projects in Thailand,” he said.
Suphachai said True was currently in talks with the Board of Investment to ask for tax support for the project.
The park project is expected to break even in its first year, as True itself will lease 30 per cent of total capacity for its innovation subsidiaries including True Lab and TrueVisions.
Suphachai said the True Digital Park would be a complete ecosystem, with the concept of open innovation highlighted to strengthen a new generation of start-ups and empower Thailand to become a regional centre for digital innovations and support the “Thailand 4.0” policy.
He said the park would also be a co-working space and centre for agencies and organisations to set up offices and data centres for the world’s largest multinational corporations, new tech start-ups, small and medium-sized enterprises and universities.
It will provide digital service platforms such as cloud, e-commerce and e-payment, providing rigorous support for running business.
It also has backup from government sectors to create an atmosphere and offer privileges that facilitate investment by foreign companies in the country.
Moreover, it has retained the service of an international consulting firm, Roland Burger, to offer services to businesses and a fundraising network through international crowd-funding.
True Digital Park focuses on creating an ecosystem for digital innovation under the open innovation concept that has been supported by government agencies, academics, private enterprises, as well as national and multinational companies.
This ecosystem will enhance the competitiveness of start-up entrepreneurs whose innovations benefit Thai society and the world, True says.