News Forum - Southeast Asia’s internet economy boosted by record investments

[Thaiger]

Southeast Asia’s internet economy is being boosted by a record number of investments. In the first half of this year, global investments amounted to US$11.5 billion into tech companies, with the bulk of funds being directed at e-commerce and the digital financial services sector. The number of deals during the same time period rose by 65% compared to the same time last year, making it quite a positive outlook for rebounding after the Covid-19 pandemic. In 2020, the investments dropped to US$11.6 billion from US$12 billion in 2019, according to Singapore’s state investor Temasek, management consultancy Bain & Company, and […]

The story Southeast Asia’s internet economy boosted by record investments as seen on Thaiger News.

Read the full story

[Jason]

65%......ok.....remember what conditions were like this time last year.....

[Shade_Wilder]

 

Interesting article, and it is hard to argue with the basic premise that the Internet-based economy will grow.

That said, there are a few negatives that I see rearing their ugly heads, but perhaps more knowledgeable members can set me straight.

Are the region's poor and/or less well-educated able to take advantage of this properly? Or, at least as well as those who received a slightly better education? As I travel around Thailand, and before as I traveled and/or lived in various SE Asian countries, I could not help but notice the gap between those educated/wealthy and those less so. Will this lead to a two-tiered economy, and if not, how will the less fortunate be able to access it and use it properly?

As a regular consumer of news in Thailand and beyond, I remember many data breaches here and in neighbouring countries. My question is quite simple and blunt; is it safe enough to trust with massive amounts of e-commerce? Who here in Thailand hasn't read about leaks, hacks, stupid mistakes, etc. on a regular basis? Just today the Thai court was hacked. Is Internet security in Thailand and/or the region good enough? Or, would security have to be out-sourced to either Western and/or Chinese companies?

Finally, a shift to e-commerce requires a legal and regulatory framework to operate within. Simple question; does Thailand and/or the larger region have it? If not, is there any hope that it will emerge in the next few years? If someone steals and uses my credit card, my bank in my native country won't charge me for it; does that kind of consumer protection exist here? If a site is hacked and data stolen, who is liable for the consequences? Are SE Asian financial networks hack-proof? If not, what will be needed to make them so?

What other questions should I ask?

I don't know the answers; anyone willing to help?

TIA

 

[King Cotton]

19 minutes ago, Shade_Wilder said:

Interesting article, and it is hard to argue with the basic premise that the Internet-based economy will grow.

That said, there are a few negatives that I see rearing their ugly heads, but perhaps more knowledgeable members can set me straight.

Are the region's poor and/or less well-educated able to take advantage of this properly? Or, at least as well as those who received a slightly better education? As I travel around Thailand, and before as I traveled and/or lived in various SE Asian countries, I could not help but notice the gap between those educated/wealthy and those less so. Will this lead to a two-tiered economy, and if not, how will the less fortunate be able to access it and use it properly?

As a regular consumer of news in Thailand and beyond, I remember many data breaches here and in neighbouring countries. My question is quite simple and blunt; is it safe enough to trust with massive amounts of e-commerce? Who here in Thailand hasn't read about leaks, hacks, stupid mistakes, etc. on a regular basis? Just today the Thai court was hacked. Is Internet security in Thailand and/or the region good enough? Or, would security have to be out-sourced to either Western and/or Chinese companies?

Finally, a shift to e-commerce requires a legal and regulatory framework to operate within. Simple question; does Thailand and/or the larger region have it? If not, is there any hope that it will emerge in the next few years? If someone steals and uses my credit card, my bank in my native country won't charge me for it; does that kind of consumer protection exist here? If a site is hacked and data stolen, who is liable for the consequences? Are SE Asian financial networks hack-proof? If not, what will be needed to make them so?

What other questions should I ask?

I don't know the answers; anyone willing to help?

TIA

Thanks, @Shade_Wilder! No answers to your 'other questions' question, sadly, but I do enjoy your thread-opening posts!