Amazon’s (AMZN) cloud unit, Amazon Web Services (AWS), has announced a new cloud region in Thailand, marking a $5 billion investment to help businesses grow in the Asia Pacific. This new AWS Asia Pacific (Thailand) Region will strengthen Thailand’s position as a digital hub, providing local cloud infrastructure to meet increasing demand for cloud services.
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Prime Minister Paetongtarn Shinawatra praised AWS for its role in advancing Thailand’s digital future. She emphasized the need for more digital access across the country and welcomed AWS’s investment to support Thailand’s digital economy.
Creating Jobs and Boosting the Economy
The new AWS region is expected to create thousands of jobs in Thailand. It is projected that it will contribute over $10 billion to the economy in the next 15 years. Many new roles will be in areas such as construction, technology, and support services, benefiting local businesses.
With the new AWS region, Thai companies will be able to run apps and store data locally, reducing delays and boosting digital growth and innovation.
Meanwhile, AWS’s investment in Thailand reflects Amazon’s ongoing commitment to Asia Pacific, following other regional developments, including AWS Outposts and Local Zones in Bangkok.
What Is the Price Target for AMZN?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 46 Buys and 1 Hold rating assigned in the past three months, as indicated by the graphic below. The average AMZN price target of $249.62 per share implies 12.39% upside potential.
