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How Is Thailand Using Big Data?

The government of Thailand is keen on considering another dimension of the Thailand 4.0 plan: Big Data

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The big data industry in Thailand is expected to reach Bt17.7 billion in 2019, a growth of 16.4 per cent from this year’s Bt15.45 billion.

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With the second year of the “Thailand 4.0” two-decade plan coming to an end, the groundwork required to transform it into a value-based economy is almost equipped and set.

Thailand launched its arduous plan in the year 2015 that involved implementing fiber–optic broadband in all of its 75,000 villages.

Despite certain hindering and impediments, the plan has finally taken its step towards accomplishment.

If you aren’t trying out online betting with the Betway88 Android app, you would love to know how Thailand is using Big Data to gain leverage.

It is expected that by the time 2019 comes to an end, high–speed broadband Internet will be accessible in all villages, according to the head of the Ministry of Digital Economy and Society, Pichet Durongkaveroj.

The government of Thailand is keen on considering another dimension of the Thailand 4.0: data, once Internet is made accessible to all after being set up.

While specifying about the significance of data, Nuttapon Nimmanphatcharin, the President and CEO of Thailand’s Digital Economy and Promotion Agency (DEPA), stated that it would benefit the momentum for “strategic thinking” among entrepreneurs proceeding into new business and new innovations.

70% of Thai firms plan to use big data in the near future

Big Data are likely to play much bigger role in the Thai private sector during the next three years.

A Siam Commercial Bank survey finds that among the Thai firms that do not already use Big Data, some 70% plan to do so in the near future.

The government of Thailand is keen on considering another dimension of the Thailand 4.0 plan: Big Data

The government of Thailand is keen on considering another dimension of the Thailand 4.0 plan: Big Data

Putting Big Data into Action

The Thai government’s first step to initiate the plan is to collect data from all 20 ministries into the centralised data management system.

Each ministry will be given three tasks to fulfill : inspection of lists of their data sets, distinguishing data sets, and interpretation of the prime focus of usage for public benefit.

According to Durongkaveroj, converting most of the “traditional and unstructured” data sets into electronic data will be a mammoth-task.

But if immediately the system becomes coherent, every government agency will be able to obtain the data, enact policies and administer to the country’s digitalization.

Since the data sets will be shared with the public, new investors and those embarking upon new businesses can utilize government data to generate solutions.

Big Data in Farming

In spite of employing almost one–third of the country’s human resources, according to the CIA World Factbook, Thailand’s agrarian sector has poor yields and contributes a meager 10% of the nation’s GDP.

By making use of data analysis, Thailand can decide on which crops to grow for the given year and can improve the industry’s output.

Under the leadership of the Ministry of Agriculture and Cooperatives, the project is headed by the Department of Agricultural Extension (DOAE).

Although the scheme is in the prime stage, the next step would be to provide the farmers with information about plants and crops via a mobile application.

This would help them to know which crop would improve their productivity.

Big Data in the Government

Big data will be efficient for government functions like planning, budgeting and resolving the problems of the citizens.

Firstly, the Government will be able to send budget to the appropriate avenues.

Secondly, because of everyone’s access to the data sets there will be transparency, and finally, citizens can also perform in sectors along with the Government with access to important knowledge.

Big Data for the Future

‘Thailand Big Data’ was South-East Asia’s biggest digital exhibition.

Students from rural areas could compete with students from the urban places in the contests that were held simultaneously.

Durongkaveroj asserts that it will be these young people who would make Thailand decisive and determining by the next twenty years.

 

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How will oil prices shape the Covid-19 recovery in emerging markets?

Oxford Business Group

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How will oil prices shape the Covid-19 recovery in emerging markets?

– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability

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A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.

Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.

The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.

Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.

In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.

While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.

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How the Rural-Urban Divide Plays Out on Digital Platforms

It is one thing for entrepreneurs, whether urban or rural, to create and operate an online store, as some digital platforms have made it relatively easy to manage an e-store – even by using just a smartphone.

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In the West, villages are emptying out due to the lack of economic opportunities. Consider Italy where, in a bid to attract newcomers, a handful of municipalities have turned to selling houses for €1.

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Will South-east Asia’s tech giants turn to SPACs to boost post-pandemic growth?

Oxford Business Group

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Will South-east Asia’s tech giants turn to SPACs to boost post-pandemic growth?
– SPACs have become a hot-button topic in global finance
– The vehicle is widely used to help tech start-ups go public
– Both Singapore’s and Indonesia’s exchanges are set to allow SPACs
– Several South-east Asian tech unicorns may use SPACs to list publicly

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South-east Asia is seeing a wave of interest in special purpose acquisition companies, or SPACs, with various major tech players considering them as a means to fast-track public listings. In parallel to this, several exchanges in the region are moving to allow SPAC listings, with a view to boosting post-coronavirus growth.

SPACs are shell companies set up by investors and then listed on a given stock exchange. Their sole function is to acquire a private company, enabling it to go public without having to go through a traditional initial public offering (IPO).

A SPAC does nothing beyond its essential function – it neither produces nor sells anything, and a SPAC’s only assets are the funds raised from its own IPO.

Crucially, people who buy into a SPAC do not know what its eventual acquisition target or targets will be. This is why SPACs are often referred to as “blank cheque companies”: they give the founders a free rein to back their choice of private company. A key feature of SPACs is that they are often headed by big-name business executives or fund managers, who trade on past successes to inspire trust in investors.

While they are far from a novel phenomenon, SPACs have become a hot button topic in recent times: SPAC initial offerings quadrupled last year, with the vehicles raising a record $80bn.

Merging with a SPAC enables a company to go public and raise capital more quickly and painlessly than with a traditional IPO, circumventing some of the volatility that Covid-19 unleashed on global markets. At the same time, they function rather like venture capital, helping investors to buy into high-growth start-ups on the ground floor.

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