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Chinese investment in Thailand on the rise

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At a seminar yesterday on cooperation between Thailand and Guangdong held by the Thai-Chinese Chamber of Commerce at the Shangri-La Hotel with over 1,000 participants, agreements were signed for investments in infrastructure, construction, hospitals and telecommunications as well as trading in rubber, agricultural crops and textiles.

Bilateral investment will grow by 40-60 per cent within two years after the Asean-Thailand Free Trade area goes into effect next year, Industry Minister Charnchai Chairungruang said.

The deals were another step towards tightening trade, investment and cultural ties with Guangdong, he said.

“At the seminar, there was one-on-one business matching. I expect that there should be agreements to invest at least Bt50 billion,” he said.

Wang Yang, secretary of the Guangdong Provincial Party Committee, emphasised expanding cooperation by promoting SMEs in the Chinese province to invest in Thailand and importing more fruit and rice from the Kingdom.

Chinese involvement in trade and investment in Thailand is on the rise, with investment projects worth US$733 million (Bt24.5 billion) in the pipeline.

Thailand was highlighted for investment in the electronic, telecommunication, textile and utilities industries, but he also welcomed Thai investors to the province.

Thai investors injected $547 million into Guangdong last year, or one-sixth of the total investment from Thailand to mainland China, he said.

Two-way trade climbed 10.4 per cent to $13.19 billion last year, or one-fifth of total trade between the two countries.

via Chinese investment on the rise – Nationmultimedia.com.

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