Thailand has attracted huge investment from China, with the value of investment projects submitted for tax privileges in the first seven months hitting Bt21.46 billion.

Industry Minister Atchaka Sribunruang said that in terms of value, China was the second only to Japan which applied for Board of Investment’s privileges for projects worth Bt27 billion.

“Chinese enterprises are attracted to the policy to promote 10 target industries and the Eastern Economic Corridor,” she said after welcoming a business delegation from Jiangsu, a coastal Chinese province north of Shanghai.

She was briefed that 87 Jiangsu enterprises have established presence in Thailand, including 37 enterprises which have applied for the BoI privileges for their investment projects valued around US$600 million (approximately Bt20 billion). A delegate is also prepared to submit a project worth about $30 million (about Bt1 billion).

Watcharee Tintani, director of Investment Promotion Section, Royal Thai Consulate-General in Shanghai, said the section targets to draw at least $25 billion investment from Shanghai to Thailand this year. She is confident of achieving the goal given companies in locomotive and train carriage manufacturing exploring investment opportunities in Thailand.

In 2017, the section targets the investment from at least 80 companies operating in the 10 target industries being promoted by Thailand.

Source:The National