Smith Banomyong, Chief Financial Officer and Chief Strategy Officer of Gulf Development Public Company Limited (SET: GULF), said Thailand should view data centers as critical infrastructure for strengthening its digital and AI capabilities, rather than assess their value solely through investment costs and direct employment.
At THE STANDARD ECONOMIC FORUM 2026 on November 4, Smith cited Singapore as an example of a country that first identified the digital capabilities it wanted to develop before determining the infrastructure required to support them.
Data centers are essential for applications requiring fast data processing and low latency, including healthcare information systems, digital identification and coordination among government agencies.
Thailand currently spends approximately US$1 billion a month on digital services from overseas providers, equivalent to around THB400 billion–500 billion (approx. $12-15 billion) annually, according to figures presented at the forum. Developing domestic data center and computing infrastructure could help retain more of this economic value within the country.
Smith also supported government screening of data center investors, saying some operators had previously reserved electricity capacity without having genuine investment plans. Such practices could prevent viable projects from accessing resources without delivering economic benefits.
He said project approvals should consider local procurement, Thai employment, technology transfers and the development of supporting businesses, while ensuring regulations do not undermine Thailand’s competitiveness.
On electricity network charges, Smith called for a review of the proposed THB1.40-per-unit wheeling charge for direct power purchase agreements (Direct PPA). He argued that calculations should reflect the actual cost of providing network services, rather than automatically allocating historical infrastructure investment costs across all users.
