China · Bangkok Post
China roadshow pays off
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Thailand has secured more than 70 billion baht in investment commitments from leading Chinese corporations following a high-level roadshow in Chengdu, Finance Minister Ekniti Nitithanprapas said on Sunday.
Key facts
- Thailand has secured more than 70 billion baht in investment commitments from leading Chinese corporations following a high-level roadshow in Chengdu, Finance Minister Ekniti Nitithanprapas said on Sunday.
- The Thai delegation to China engaged in direct, one-on-one negotiations with four of the country’s leading companies in the electric vehicle (EV) and advanced technology sectors, with the expected investment comprising 50 billion baht in
- Its factory in Rayong province will serve as an export hub for countries covered by Thailand’s free trade agreements, while the company plans to double annual production capacity to 200,000 vehicles.
- The investment is expected to create more than 20,000 jobs and include research partnerships with leading Thai universities involving about 1,500 Thai engineers.
Summary
The Thai delegation to China engaged in direct, one-on-one negotiations with four of the country’s leading companies in the electric vehicle (EV) and advanced technology sectors, with the expected investment comprising 50 billion baht in expanded existing projects and more than 20 billion baht in new investments.
“The investment drive exceeded expectations,” Mr Ekniti, who doubles as deputy prime minister, said, attributing the strong response partly to shifting geopolitical conditions that are prompting Chinese manufacturers to diversify production beyond the mainland, with Thailand emerging as one of the preferred destinations in Southeast Asia.