Thailand boosts Chinese investment with new roadshow in China
Thailand is actively promoting itself as an investment destination for Chinese businesses by organising a new roadshow in China. The initiative, led by the Board of Investment (BoI), aims to showcase the potential business opportunities available to Chinese investors, especially in the sectors of electric vehicle (EV) battery manufacturing and smart electronics.
Deputy Prime Minister Pichai Chunhavajira, who also serves as Thailand’s Finance Minister and chairman of the BoI board, will head a delegation to China for meetings with key officials and business leaders. During their visit from today, November 19 to 22, the delegation will meet with the mayor of Shanghai to explore avenues for trade and investment cooperation, said Narit Therdsteerasukdi, BoI Secretary-General.
The visit coincides with events celebrating the upcoming 50th anniversary of diplomatic relations between Thailand and China.
The BoI noted that several Chinese EV manufacturers have expressed interest in establishing facilities in Thailand, bolstered by the Thai government’s policies offering incentives such as tax reductions and subsidies for imported EVs.
On November 21, the BoI will co-host the 2024 Thailand-China Investment Forum in Shanghai. This forum is expected to attract a significant number of participants, with up to 500 investors already registered. These investors represent diverse industries, including EVs and components, electronics, electrical appliances, and machinery, reported Bangkok Post.
Chinese companies with existing operations in Thailand will also participate in the forum to share their experiences with the attendees. One such company is Haier Smart Home Co., which recently received BoI approval for a 13.5-billion-baht (US$390 million) investment project to construct a new factory in Chon Buri. This facility will produce and market smart air conditioners both locally and internationally.
In related news, at 10am local time in Lima, Peru, on November 15, Thai Prime Minister Paetongtarn Shinawatra engaged in a significant bilateral meeting with Chinese President Xi Jinping during the 31st APEC Economic Leaders’ Summit. The discussions highlighted the enduring partnership between Thailand and China, marking the year as the Golden Year of Thai-Chinese Friendship.
