May 20, 2020

Alibaba eyes Thailand for growth

Ant Financial
Alibaba Thailand
Thai SMEs
Alibaba founder and CEO Jack Ma
1 min
Alibaba eyes Thailand for growth

Keen to capitalise on Thailand’s potential for rapid growth, Alibaba founder and CEO Jack Ma has signed an agreement with Thailand's Deputy Prime Minister Somkid Jatusripitak to cooperate on e-commerce opportunities.

As part of the agreement, Alibaba will train 30,000 Thai SMEs, alongside 10,000 Thai individuals working in digital technology while also helping to enhance the supply chain and logistics capabilities in Thailand.

Alibaba's digital payment arm Ant Financial's November recently strengthened the company’s commitment to Thailand through an investment in the country’s premier payment and loan services company Ascend Money.

Thailand’s e-commerce sector is billed for double digit growth but is still largely dependent on communication through social media platforms to facilitate online shopping. Along with the Thai government, Alibaba aims to bring the system up to date. The government is also looking to transform the country into a cashless society.

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SOURCE: [The Street]

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