Page 124 - ASEAN ICT Masterplan 2020

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Measures Rationale Timeframe Related Domestic Agendas
Strategy 2: Assist SMEs in finding new markets and adopting technologies for business efficiency, and create a start-up ecosystem that fosters new entrepreneurs (Cont’d)
2.3) Create a database that contains specifics Adequate information for buyers on goods and products, which include their properties, origin, price and other 2019 – 2020  Digital Thailand Plan,
and origins with regard to Thailand’s certificates, can be a decisive factor that influences purchases. Thus, a reliable database of information on Strategy 2
exports goods and products is an important steps towards the globalization of Thai goods and products.

Recommendation
The government should therefore create a database of Thai exports that contains the information previously
outlined. In essence, this database should allow buyers to verify their purchase via the internet. Furthermore,
the government should provide assistance for Thai business to convert information on their goods and products
into English or other languages that satisfy the demand of the consumers.
2.4) Improve the legal and regulatory A report by the Thailand Tech Startup Association in 2016 concluded that several institutional and legal factors 2017 – 2018  Digital Thailand Plan,
environment to attract start-up investment are compromising the start-up ecosystem in Thailand, demeaning its investment attractiveness in relation to Strategy 2
from both domestic and foreign other neighboring countries. These factors include: the collection of the capital gains tax; relatively higher
entrepreneurs income tax and value added tax; ambiguous tax calculation principles; nonexistence of an internationally
recognized legal framework on instruments such as convertible notes; lack of mobility in capital movement (a
transfer of cash of more than 50,000 USD requires notification to the Bank of Thailand) and the visa granting
process for foreign expatriates still requires a significant amount of time.

Office of the Permanent Secretary Ministry of Digital Economy and Society