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Alibaba Initiates $3Bln Partnership With Thai Gov In Support Of Thailand 4.0

Alibaba Initiates $3Bln Partnership With Thai Gov In Support Of Thailand 4.0

The e-commerce giant’s executive chairman, Jack Ma, was in Thailand this week and has become the first big name to join Thailand’s plan to upgrade its economy known as Thailand 4.0.

According to Jack Ma statement during a press conference held in Bangkok, the group’s investment in Thailand will be at least US$3 billion (93.6 billion baht) over the next five years.

The Government of Thailand and Alibaba entered into a strategic partnership to drive the development of Thailand’s digital economy and the Eastern Economic Corridor under the Thailand 4.0 policy.

Thailand 4.0 endeavours to transform the Kingdom’s economy from one reliant on manufacturing existing products designed by others to one driven by innovation, research and development, creativity and the development of higher technologies and green industries.