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Minister
of Industries, Royal Government of Thailand- Mr.
Phinij Jarusombat with Group CEO of Genovate Mr.
Anton Ravindran.
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Genovate Solutions Pte Ltd, a homegrown global provider
of IT consulting services, software development and professional
education, has set its sights on developing the software
industry in Thailand.
Genovate Solutions is the first foreign company to be
granted approval by the Thai government under a new initiative
to develop the Thai software industry and provide training
for IT professionals. Granted on 24 August 2004, Genovate
Solutions will start up software development operations
and set up training programmes to introduce its technologies
and expertise in SAP, BioInformatics, Web Services and
m-Commerce to the Thai software industry.
Under the new initiative, Genovate Solutions will stand
to enjoy 8 years of income tax exemption without needing
to locate operations within a specific economic zone. It
will also be able to set up a Wholly Foreign-Owned operation,
whereas it would previously have needed to enter the Thai
market with a local partner. The Ministry of Information
Communication and Technology and the Ministry of Industry
will jointly administer the new initiative.
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Minister
of Information and Communication Technology, Royal
Government of Thailand-Dr. Surapong Suebwonglee
with Group CEO of Genovate Mr. Anton Ravindran.
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As the first foreign company welcomed under the new initiative,
Genovate Solutions' CEO & Co-Founder, Mr Anton Ravindran,
was recently invited to witness and speak at the signing
of the Memorandum Of Understanding (MOU) between the Board
Of Investments of Thailand (BOI) and the Software Industry
Promotion Agency (SIPA) to support the development of the
Thai software industry and help Thai software entrepreneurs
go global with their solutions. In attendance were the
Thai Minister for Industry, Mr Phinij Jarusombat, the Thai
Minister for Information and Communication Technology,
Dr. Surapong Suebwonglee, the President of SIPA, Mr Manoo
Ordeedolchest, and the Secretary General of BOI, Mr Somphong
Wanapha. The BOI is the equivalent of the Singapore Economic
Development Board, while the SIPA is the equivalent of
the Infocomm Development Authority of Singapore.
Mr Ravindran had the honour of being one of a select group
of speakers at the signing ceremony, which included the
two signatories and the two Thai Ministers, demonstrating
the importance of the event to the Thai government, the
respect they have for Mr Ravindran, and the value they
place on the contribution by Genovate Solutions to their
software industry.
“We are delighted to be granted this status under
the new MOU,” said Mr Ravindran. “The MOU advances
the Thai government’s aims to bring in technologies
and expertise that are not widely available in Thailand,
and also supports their drive to promote technopreneurship
in Thailand. Genovate Solutions saw the opportunity to
contribute, and applied to the Ministries to enter the
Thai market under the new initiative.”
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Mr.Anton
Ravindran speaking on the ocassion.
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Continued Mr Ravindran, “The Thai software industry
is a sunrise industry with strong growth prospects and
the potential to be a world leader in software development.
The Thai government has also been firmly committed in its
support for the IT industry and has set in place policies
to provide good infrastructure and develop the skills of
its software developers to meet those of the global marketplace.”
“Hence, the signing of the MOU is a testimony to
the progress and advances made by the Thai government and
has given us the confidence to invest in Thailand.”
