Global Infrastructure Partners (GIP) and BlackRock have formed a strategic alliance to invest up to $5 billion in Thailand’s digital infrastructure sector, focusing on data centers. This partnership, including CP–True IDC, aims to upgrade Thailand’s capability to manage modern technological needs like AI, big data, and cloud services. It is expected to significantly boost job creation in the engineering and technology sectors, enhancing Thailand’s role in the global digital economy.
The Southeast Asian data center market is burgeoning, with projected growth reaching $3.81 billion by 2029. This surge is driven by technological trends like edge computing and AI. Thailand is anticipated to see a compound annual growth rate (CAGR) of 7.5-8.5% over the next three years, representing a critical opportunity to position itself as a key technology hub in the ASEAN region.
A high-ranking delegation from GIP and BlackRock, led by Adebayo Ogunlesi, visited Thailand recently, engaging with top government officials. These talks highlighted mutual goals to strengthen Thailand’s digital infrastructure. The Thai government remains committed to supportive measures, ensuring fast, transparent procedures to facilitate private investments, while encouraging collaboration with academic institutions to boost human capital development.
Emphasizing Thailand’s potential as ASEAN’s digital and AI hub, CP Group CEO Suphachai Chearavanont reiterated the group’s commitment to infrastructure development and innovation. Ogunlesi noted GIP’s expertise in global infrastructure projects and emphasized Thailand’s advantageous strategic position in Southeast Asia. This collaboration not only presents a business venture but forms a strategic partnership aimed at establishing a sustainable digital economy foundation across the region, redefining Thailand’s path in the emerging digital economy era.
