Government Spokesperson Chai Wacharonke disclosed that the demand for office building space in Thailand has steadily increased thanks to the policy of Prime Minister Srettha Thavisin to promote inward foreign investment and push forward Thailand as the region’s major investment hub. This has been done through implementing various investment promotion measures, and leveraging the country’s potential in wide-ranging dimensions. As a consequence, office building business is now booming with an increasing rental demand from foreign companies, coupling with another good news, that is, Microsoft has made an announcement to build its first regional data center in Thailand.
According to the report of IWG, a leading service provider of flexible workspace, demand of foreign companies for office building space in Thailand is on the rise, as these companies are well aware of Thailand’s potential and advantages as suitable location for their regional offices/headquarters, be it, general environment conducive to the well-being of employees, quality labors, appropriate minimum wages, English and digital skills of the Thai workers, and reasonable cost of living, among others. The rising demand of workspace comes fiercer competition in the business with more conditions beneficial to tenants, i.e., shorter term of rental contract, office design that is more responsive and suitable to working condition, and the growth of co-working space rental.
The Government Spokesperson added that Microsoft’s announcement to establish its first regional data center in Thailand and to provide AI skill training in the country and the region is another milestone which will benefit other related businesses, and lead to an opportunity for Thailand to become a perfect destination for regional offices. To affirm the Government’s full support for the growth of AI industry and data center, the Board of Investment (BOI) has earlier approved investment promotion for an establishment of data center in Thailand of Australia’s NEXTDC, and India’s CtrlS Datacenters (Thailand) Ltd.
The Thai Government stands ready to cooperate with foreign agencies and firms who are interested in establishing regional offices in the country through exchanging ideas to understand their needs, and accommodate their business growth in Thailand and the region. A number of investment promotion measures have been put in place, such as, long-term resident visa, one stop service for visa and work permit, and corporate tax exemption for international business center (IBC), etc.
According to the Government Spokesperson, the Prime Minister was confident with Thailand’s potential and readiness, and the fact that the country has become a popular destination for regional office establishment is a golden opportunity to further attract regional investment from large corporations and investment in the new S-Curve industries, which will benefit Thailand in the long run. (PRD)
