Australia and Thailand collaborate to accelerate digital economy growth

Australian businesses also showcased their capabilities at Southeast Asia’s largest tech conference.

The inaugural Australia-Southeast Asia Business Exchange to Thailand focused on aligning Australian digital technology capabilities with Thailand’s priority agenda of digital transformation.

Led by Austrade CEO, Xavier Simonet, the “Connecting Australia and Thailand in the digital economy” mission showcased Australian capabilities in key tech sectors to business and government stakeholders.

‘I was excited to lead the first Australia Southeast Asia Business Exchange to Thailand,’ says Mr Simonet. ‘The business exchange is a key initiative in the Australian Government’s Southeast Asia Economic Strategy to 2040, which aims to increase two-way trade and investment between Australia and Southeast Asia.

‘This business exchange to Thailand supported collaboration between Australia and Thailand where digitalisation and innovation are priorities for economic development,’ says Mr Simonet.

Australian capabilities on show at Techsauce conference

The delegation comprised 29 delegates from 18 Australian tech companies across key sectors. They ranged from:

• artificial intelligence (AI)
• health tech
• agtech
• climate tech
• regtech
• software development/software-as-a-service
• digital technologies for business innovation.

Highlights from the business mission included the Techsauce Global Summit 2024, Southeast Asia’s leading tech conference. The conference attracts over 20,000 attendees from top-tier corporates, startups, SMEs, tech and business communities across Asia.

The Australia Pavilion at the Techsauce Global Summit welcomed 80 representatives from leading Thai and international companies and accommodated 113 business meetings. The delegation participated in business-matching meetings and the Aussie Tech Showcase – a pitching session on the Techsauce showcase stage.

Other highlights included:

• Meeting Thailand’s Ministry of Digital Economy and Society to discuss digital transformation for economic growth
• Visiting 3 leading Thai private hospitals: MedPark Hospital, Ramkhamhaeng Hospital and Synphaet Ramintra hospitals
• A site visit to True Digital Park, Thailand’s first and Southeast Asia’s largest tech and startup hub
• Participation in 3 networking events: Australian Thailand Digital Economy Forum networking reception, AustCham Sundowners and Finnovate VC networking event.

Mission delegates at the Techsauce Global Summit conference.

Southeast Asia’s digital gateway

Thailand’s ambition to establish itself as the digital gateway to Southeast Asia is opening up opportunities for Australian technology companies looking to expand their businesses to the region.

There is strong support from the Thai Government and local innovators Translucia, True Digital, SCBX and Krungsri Finnovate. Global tech giants such as Amazon, Google and Microsoft are also investing in the country. This support is creating many new opportunities for Australian companies in Thailand.

‘Thailand is Southeast Asia’s second largest economy,’ says Rohan Brammall, Infocus Analytics’ General Manager and one of the mission delegates. ‘The country has a fast-growing middle class and an educated, innovative and open-minded younger generation poised to take over businesses.

‘There’s real potential for growth in coming years.’

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