At the end of May, 2016, Thailand and the Republic of Singapore made a new agreement about cooperating in communications and technology niches. They formalised this agreement when representatives for both nations added their signatures to a memorandum of understanding. In terms of what this new spirit of cooperation actually entails, it’s all about making the electronic services of governments better, supporting start-ups which are centered on digital technology, sharing data about cyber security breakthroughs and creating impressive development programs which benefit both sides.

This type of collaboration is designed to broaden shared experiences between Singapore and Thailand, as they relate to ICT. It’s also about making the overall bond between the two countries stronger. On Singapore’s side, the Ministry of Communications and Information was responsible for making this new agreement a reality.

Another facet of this ground-breaking agreement is that the two nations will work to implement ASEAN (Association of Southeast Asian Nations) into new ICT initiatives, thereby building the power and benefits of ASEAN within the digital realm. This will definitely have an impact on the economy of the region, which will – in turn – impact the global economy for years and years to come.

As you may know, Singapore is currently a very prosperous nation and its government is working hard in order to ensure an even brighter future for Singapore residents and entrepreneurs. This latest agreement is just one example of how the responsive government of Singapore is working to support tech, business and citizens. This shouldn’t come as a surprise to anyone, however, as the government of Singapore has almost always been business friendly, This prosperity is likely to continue for the foreseeable future – even if the global economy dips and wanes.

Known for its very low murder rate, its physically-fit citizens and its business opportunities, Singapore is a great place to live, work and play. In addition to creating this agreement, along with Thailand, the government of Singapore is committed to a range of other modern initiatives which will make it easier for entrepreneurs in the tech field to get new, tech-oriented business up and running. The agreement was signed on May 31, 2016 will benefit the tech industry in Singapore overall. It will also benefit Thailand and its tech entrepreneurs. It’s win-win!

Stay Tuned for Updates

In the future, more information about this interesting development may be released. To date, an official announcement from the Ministry of Communications and Information will have to suffice.

As the two nations begin to implement the agreement into their processes and operations for digital technology, shared knowledge should positively impact both countries. This attitude of sharing is designed to strengthen each country’s ICT approach. It’s a modern way to get more from digital technology. After all, two heads are better than one.

Though it will be difficult to really asses the success (or failure) of this program for some time, the projections are very favorable. This agreement may turn out to be the first step on a long journey to continued prosperity.