Thailand's Tech Advances: Facial Recognition in Airports, Electric Pickup Launch, and Economic Ambitions Amid Global Shifts
SEC urges digital asset operators to report suspicious activities amid iCon Group investigation; Thai airports to implement facial recognition technology to enhance security and passenger experience.
Starting off with a significant move, the Securities and Exchange Commission (SEC) has issued a call for digital asset operators to report any suspicious activity, especially in light of the ongoing probe into iCon Group's alleged laundering via the stablecoin USDT. This underscores the challenges highlighted by Upbit Exchange's Preecha Praipattarakul, urging collective efforts to control money laundering when switching cryptocurrencies to cash.
In related developments bolstering technological security, starting November 1, 2023, six major Thai airports, including Suvarnabhumi and Don Muang, will introduce facial recognition technology for domestic passengers, with international roll-out planned a month later. This innovative step, spearheaded by the Airports of Thailand’s president, Kirati Kitmanawat, is set to enhance the passenger experience by streamlining verification processes and providing more leisure time at airports.
Meanwhile, Thailand is taking strides towards electrifying its automotive sector with RIDDARA unveiling the RD6, the country's first all-electric pickup truck. Marketed under Geely Holding Group, the RD6 combines cutting-edge design and performance with sustainability and caters to modern family needs at a competitive starting price of 899,000 baht.
On a digital note, Thailand is pressing forward with its 'Cloud-First' policy in collaboration with Huawei Cloud Stack, aiming to establish itself as ASEAN's digital hub. This ambitious initiative, central to over 220 government departments, seeks to reduce costs while bolstering service quality and attracting global investments, fostering economic growth.
Speaking of economic prospects, Bangkok Bank's Kobsak Pootrakool remains upbeat about Thailand's economic outlook, forecasting a near 3% growth for 2024, with potential to surpass that by 2025. This optimism, despite recent flood-induced setbacks, is fueled by a strong rebound in tourism, drawing near pre-pandemic visitor numbers.
Finally, as the US-China trade tensions continue to mount, Thailand is poised to reap economic benefits by potentially attracting relocating Chinese manufacturers. Kasikorn Research predicts growth in seven key industrial sectors, including semiconductors and solar panels, positioning Thailand as a favorable hub amidst the shifting global trade landscape.
In related developments bolstering technological security, starting November 1, 2023, six major Thai airports, including Suvarnabhumi and Don Muang, will introduce facial recognition technology for domestic passengers, with international roll-out planned a month later. This innovative step, spearheaded by the Airports of Thailand’s president, Kirati Kitmanawat, is set to enhance the passenger experience by streamlining verification processes and providing more leisure time at airports.
Meanwhile, Thailand is taking strides towards electrifying its automotive sector with RIDDARA unveiling the RD6, the country's first all-electric pickup truck. Marketed under Geely Holding Group, the RD6 combines cutting-edge design and performance with sustainability and caters to modern family needs at a competitive starting price of 899,000 baht.
On a digital note, Thailand is pressing forward with its 'Cloud-First' policy in collaboration with Huawei Cloud Stack, aiming to establish itself as ASEAN's digital hub. This ambitious initiative, central to over 220 government departments, seeks to reduce costs while bolstering service quality and attracting global investments, fostering economic growth.
Speaking of economic prospects, Bangkok Bank's Kobsak Pootrakool remains upbeat about Thailand's economic outlook, forecasting a near 3% growth for 2024, with potential to surpass that by 2025. This optimism, despite recent flood-induced setbacks, is fueled by a strong rebound in tourism, drawing near pre-pandemic visitor numbers.
Finally, as the US-China trade tensions continue to mount, Thailand is poised to reap economic benefits by potentially attracting relocating Chinese manufacturers. Kasikorn Research predicts growth in seven key industrial sectors, including semiconductors and solar panels, positioning Thailand as a favorable hub amidst the shifting global trade landscape.
