The paper aims to drive Thailand 4.0 initiatives to pave the way for major digital and infrastructure development in Phuket, one of Thailand’s pilot smart cities, and to provide insights and guidance on an integrated framework needed for a successful and sustainable urban transformation.

Developed in collaboration with Roland Berger, the white paper was created in alignment with the government’s initiatives to enable digital economy and enhance the wellbeing of Thai people. Inspired by Thailand 4.0 economic development programme launched in 2016, the paper focuses on a practical roadmap that helps empowering communities for digital future.

Realizing that an end-to-end development can be achieved through public-private partnerships, Huawei conducted an assessment and case studies on the services and utilities required for a fully-developed smart city. The resulting white provides comprehensive insights into action plans to transform this vibrant city into a smart one by 2020.

The white paper features Phuket-focused Smart City frameworks consisting of 5 service verticals and 8 service enablers for Smart City development at Phuket and the national level. The services include smart energy and utilities, smart mobility, smart environment, smart living and smart economy while the enablers are smart governance, smart infrastructure and smart people.

In his opening address, Digital Economy Promotion Agency (Depa)’s president Dr. Nuttapon Nimmanpatcharin noted that thanks to the support from the National Smart City Committee and organizations from both public and private sectors, the smart city developments have already begun in 6 prioritized cities: Phuket, Chiang Mai, Khon Kaen and 3 EEC provinces. “As one of our pilot cities, Phuket needs a clear development plan and a sustainable management model in order to fully transform into a smart city in 2020, this white paper will surely help facilitate smart city project for Phuket and other smart city candidates as well,” he said.

Chanchai Tanatkatrakul, Principal, Roland Berger Thailand added: “We looked at global best practices and analysed local issues and requirements to develop this Smart City Framework for Phuket. Talking to various stakeholders helped us tailor our recommendations that can address the needs of Phuket and its people very well:”

Deng Feng, Managing Director of Huawei Thailand agreed, saying: “At Huawei, we promote industry development at all levels. As Thailand embarks on the journey to become one of the first countries in the region to develop a smart city scheme, we will provide practical recommendations and solutions to ensure a smooth and complete city development for Phuket and the rest of Thailand.”

Since 2010 both companies have been partners in the alliance, which is part of Mitsubishi Electric’s e-F@ctory Concept.

The concept supports companies with measures within the framework of digital transformation, such as the integration of machine and plant data into MES (manufacturing execution systems) and ERP (enterprise resource planning systems).

“To provide Industry 4.0 solutions with substantial added value for the customer, we need collaboration across different companies,” said Stefan Spindler, CEO of Schaeffler’s industrial division. “With the technological expertise and systems know-how of Schaeffler and Mitsubishi Electric, we will be able to offer intelligent solutions tailored to customer and market requirements to optimise manufacturing operations and equipment lifecycle costs.”

Noriyuki Shimizu, corporate executive vice president for Mitsubishi Electric’s Factory Automation Systems Group, said: “We have successfully carried out joint projects in various countries in Europe and Asia over the years. Now we intend to intensify and expand our collaboration on a global level.”

Mitsubishi Electric and Schaeffler are collaborating to boost connectivity and to create Industry 4.0 solutions that reduce machine downtime and maximise productivity for customers, the firms said.

Schaeffler contributes concepts that combine mechatronic products, condition monitoring systems, and digital services to form application-specific 4.0 solution packages. These provide the basis for the creation of customised products and services, with the main focus on the effectiveness of the overall system.

Mitsubishi Electric offers a vast range of factory automation and processing technologies, including programmable logical controllers, inverters, robots, servo drives and human-machine interface, helping to bring higher productivity and quality to the factory floor.

IFC, a member of the World Bank Group, and DEG (Deutsche Investitions und Entwicklungsgesellschaft) have agreed to subscribe the Women Entrepreneurs Bonds to be issued by Bank of Ayudhya in the amount of up to US$220 million.

The pioneering investment is supported by the Women Entrepreneurs Opportunity Facility, a joint initiative of IFC and Goldman Sachs 10,000 Women, to expand access to capital for women entrepreneurs globally.

The aim of this offering is to boost lending to women-led small and medium-sized enterprises (WSMEs) in Thailand.

Bank of Ayudhya (Krungsri) expects to issue the bonds to IFC and DEG in October. Their subscriptions will be up to $150 million and $70 million, respectively. MUFG Securities Asia Ltd is the sole social-bond structuring adviser, arranger and placement agent.

This will be the first private-sector “gender” bond issuance in the Asia-Pacific region and the first social bond issuance in Asian emerging markets in compliance with the International Capital Markets Association Social Bond Principles and the Asean Social Bond Standards.

“Krungsri holds strong to our conviction in continuing to grow our business, while fulfilling the broader goal of financial inclusion for the underserved, including the WSME segment,” said Seiichiro Akita, Krungsri’s President and CEO.

“This issuance reaffirms our commitment to corporate citizenship practices and our broader ambition to meet the UN Sustainable Development Goals.”

More than half of the SMEs in Thailand, and especially those owned by women, lack adequate access to finance. The finance gap for WSMEs in the country is estimated to be $25 billion, accounting for 61 per cent of the overall micro and SME finance gap in Thailand.

“Sustainability is an important agenda for MUFG,” noted Augusto King, co-head of Debt Capital Markets Loans and Bonds Asia Pacific at MUFG. “This issuance will give women entrepreneurs across Thailand the chance to take their businesses to the next level and unleash fresh growth impetus in the country.”

This inaugural certified social bond issuance will help expand credit lines to WSMEs and promote the transparency and integrity of Asia’s nascent social bond market.

“The transaction demonstrates DEG’s commitment to promoting greater participation of women in the Thai economy to raise productivity, boost the living standards of families, and foster social cohesion,” said Monika Beck, a member of DEG’s Management Board.

Social bonds raise funds for projects that help improve social outcomes. This novel asset class provides investors with an attractive investment proposition as well as an opportunity to support projects with positive social impact.

Krungsri’s Women Entrepreneurs Bonds will introduce WSME loans as an attractive asset class for investors and pave the way for the issuance of future capital markets instruments that benefit socially-responsible initiatives in Thailand and the region. Through this offshore bond issuance, Krungsri will become a pioneer of women’s financing in Thailand.

“We are focused on closing gaps in access to finance and education for women entrepreneurs. That is why we support innovative capital solutions such as the first private-sector gender bond in the region,” said Cristina Shapiro, Global Director of 10,000 Women.

“Goldman Sachs research shows that closing the credit gap for women-owned SMEs in emerging markets could push income per capita an average of 12 per cent higher by 2030. Women entrepreneurs have real potential to impact Thailand’s future growth.”

“Instruments like the Women Entrepreneurs Bonds will allow investors to experience what IFC has observed for years – namely, that women entrepreneurs are a source of growth and sustainability for banks, communities, and countries,” said Philippe Le Houérou, the Chief Executive Officer of IFC. “Investing in women can improve the lives of families and drive business, thereby ensuring Thailand’s growth trajectory is inclusive and sustainable.”

A Nielsen 2018 survey of Chinese mobile payments in outbound tourism shows that about 60 per cent of Chinese tourists travelling to various countries relied on mobile payment, while about 90 per cent of them asked local shops whether they would accept payment for products via smartphones. The survey shows that the behaviour of today’s Chinese tourists reflect the fact that their society has become largely cashless.

“Ksher is a fintech company that started with providing financial transaction services between Thai shops and Chinese e-wallet applications WeChat Pay and Alipay,” said Ksher Payment president Premchai Kusolrerkdee. “Ksher solutions make it easy for Thai shops to receive payments from their Chinese customers. Chinese tourists can pay in yuan while merchants receive baht.”

In addition, Ksher has promotion campaigns to boost sales all year around, such as bonus and rebates to customers to encourage Chinese buyers to make purchases more easily or increase per-bill amounts, he said.

“Ksher has also developed a new system that includes e-wallet payment platforms used by Thai customers such as PromptPay and TrueMoney, with the aim of supporting SMEs amid an increasingly cashless society,” Premchai said.

According to the company, Ksher provides six types of payment services in the country, based on current platforms and needs of the retail business:

1. Static QR code signs for customers to scan and make instant payments.

2. Ksher’s EDC machines, which are best for medium-sized shops with many branches that need to print out receipts for customers.

3. A POS integration system that manages operations at point of sale and other front-office tasks of the shop in a convenient way with reduced errors. The system also allows for an easy management of multiple outlets of the shop chain.

4. A dynamic QR code solution that connects APIs with shop websites, allowing customers to make online payments by scanning QR codes on the websites.

5. An API integration and mobile payment system that caters to shops with their own mobile applications. Customers make purchases by clicking the payment button and entering a password without having to scan a code.

6. A Ksher Boss mobile application for the back-office cashier system.

Ksher said it provides financial transaction solutions to a host of businesses, including large shopping malls such as King Power, MBK, Premium Outlet and Asiatique the Riverfront, as well as renowned retail shops and restaurants such as Jim Thompson, Boyy, Charles & Keith, Anello, Miniso, Godiva, Iberry, Kub Kao Kub Pla and After You.

The first six will be condominiums worth Bt11 billion, chief operating officer Uthai Uthaisangsuk said on Thursday.

He said the company’s ambitious goal is to be Thailand’s top developer of single-detached houses within three years and its No 3 developer of townhouses.

The plan is to build up a broad product portfolio to cater to all consumer segments and strengthen all of its housing brands with “industry-defying features and functions”, Uthai said.

Its Burasiri single-detached homes selling for between Bt8 million and Bt20 million will now include “the resort-style living experience of a true private sanctuary”, he said, with a feature called New Garden Connect that links interior to exterior.

Siri Place, a successful “best-in-class townhouse brand”, will be introduced in more locations to cater to younger purchasers and will now feature a Modern Loft design.

Uthai expressed confidence that Sansiri’s aggressive plan for the housing segment and its high service standards will generate sales of Bt15 billion, and, coupled with earnings from ownership transfers on new nine condominium projects, would boost its total revenue from ownership transfers to Bt32 billion by year’s end.