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Thailand risks remaining primarily a host for the physical infrastructure of data centres unless the country develops stronger domestic capabilities in higher-value industries, such as cloud services, artificial intelligence (AI) and cybersecurity, warns Tris Rating.In a recent research report, the credit rating agency noted Thailand's ability to gain lasting economic benefits from the rapid expansion of data centres will depend on how much of the value created by these investments stays within the country.
Execution risk is rising as project requirements become more demanding, with the country attracting foreign investments in data centres.
"Large investment commitments confirm the country's rising role as a regional digital infrastructure hub, but long-term credit benefits will depend on project execution, power and water readiness, tenant quality, utilisation ramp-up, and the ability of domestic participants to capture higher-value digital services," Tris said.
Thailand's data centre investment pipeline is large by regional standards, supported by commitments from global hyperscalers and co-location operators, said the agency.
