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China's rapid growth in investment in Thailand

From:Zoomhii Holdings    Date:2016-04-11

Data from the Thailand Board of Investment (BOI) showthat between January and August 2015, the number of new Chinese direct investment projects has reached 37 doubling that of the previous year. This amounts to 10.739 billion baht (0.31billion USD), making China Thailand’s second largest source of direct investment, behind Singapore whose investment is 13.143 billion baht.

The Secretary-General of Thailand’s Investment Promotion Commission, Mr. Xilun Ya, said Chinese investors are mainly interested in alternative energy, solar energy products, automotive manufacturing, rubber tires and other fields. Also, since many Chinese companies choose to invest via Singapore, the Commission believes that China is probably Thailand’s largest investor now.

China''''s rapid growth in investment in Thailand

At present, China''''s investment in Thailand is growing rapidly. In an interview with this reporter, Mr. Bin Huang, head of Chinese Department, Thailand Kaitai Research Center, pointed out that the Chinese government policy of “expanding the cooperation with countries along escalating capacity”and the deepening of bilateral friendly relations of the "Sino-Thai family" has made Thailand a favorite of Chinese investors.  According to reports, Chinese companies choose Thailand because its international trading system allows them to avoid trade barriers and the opportunity to expand to the local market. In addition, Thailand’s abundant production resources, especially raw materials, allows them to offer lower production costs.  For example, Chinese tire companies can take advantage of rich local resources such as rubber and sell to Thai auto manufacturers to achieve localization of production and marketing. Thailand, located in the center of Indochina with easy transportation, makes it an ideal bridgehead for expansion into the ASEAN market.

Huang believes that as the Thai infrastructure grows, Chinese companies are in a good situation to reap early harvest by helping to develop special trade zones and industrial clusters that the Thai government is promoting.  He points out that the future is bright, and there will be more developments similar to the Thailand Rayong Industrial Park, a Cluster Development project to promote Chinese investment.

 Dean Phi from the School of Economics, Thailand Chiang Mai University, told reporters that the market for Chinese investments is not only the 67 million Thais, but the nearly 600 million population of the ASEAN region. Companies like Huawei, ZTE and other high-tech enterprises have already settled in Thailand, creating new impetus, providing employment opportunities and promote innovation for  Thailand''''s continued economic development. To help in this transition, the Thai government has launched a series of economic stimulus plans and increased efforts to attract foreign investment. 

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