Foreign minister: China’s banking giant to boost tech investment

Thailand’s Minister of Foreign Affairs Maris Sangiampongsa met with Ge Haijiao, Chairman of the Bank of China, on Wednesday, July 10, during his official visit to China.

The meeting, held to bolster Thai-Chinese economic ties, saw the presence of Pongsarun Assawachaisophon, Deputy Secretary-General to the prime minister.

In a strategic pitch, Maris extended an invitation to the Bank of China to participate in Thailand’s upcoming investment roadshow in China. The aim is to lure significant investments in the burgeoning semiconductor and electric vehicle (EV) sectors. Maris emphasised that such collaborations would not only enhance bilateral economic cooperation but also position Thailand as a key player in the tech industry.

“Thailand is eager to strengthen its economic relationship with China. The participation of the Bank of China in our roadshow could catalyse substantial growth in our semiconductor and EV industries.”

Bank of China, with its prestigious status as the longest continuously operating bank in China, boasts a vast global presence. Known as China’s most globalised and integrated bank, it operates across the Chinese mainland and in 64 countries and territories worldwide.

This invitation signifies a strategic effort by Thailand to attract foreign investment and technological expertise, aiming to transform the nation into a hub for high-tech manufacturing and innovation, reported Pattaya Mail.

In related news, during a meeting between the Thai and Chinese foreign ministers to discuss the consultation mechanisms between the two nations, Chinese Foreign Minister Wang Yi emphasised the importance of upholding the ASEAN-centered East Asian regional cooperation framework and rejecting exclusive small circles.

In other news, flights between Thailand and China have surged to 55,000 in the past eight months, following the signing of a mutual visa exemption agreement, according to the Ministry of Transport. Deputy Transport Minister Surapong Piyachote reported that the 55,433 flights from October last year to May marked a 213% increase compared to the same period the previous year.