THAILAND woos Chinese Start-Ups

THAILAND is beckoning Chinese start-up companies to invest in the Kingdom in such high-tech industries as information and communications technology, automobiles, aviation and electronics.

Deputy Prime Minister Somkid Jatusripitak took representatives of the private sector to China to seek more investment. The delegation will be there until Thursday, visiting Beijing and Shanghai.

He will talk with eight to 10 start-ups about setting up in Thailand as part of their overseas expansion. The Board of Investment of Thailand will offer them incentives.

Somkid is scheduled to meet with more than 300 Chinese investors tomorrow at a conference on “Thailand: Moving Forward |to Sustainable Growth”.

Southeast Asia, including Thailand, is now well positioned for more investment from China because of the current uncertainty in Europe, the government believes.

From 2010-14, 172 investment projects worth Bt85.3 billion from China were approved. The top destinations were the machinery, automotive and solar-cell industries.

Last year, the government approved 81 projects worth Bt28 billion, up from 40 projects in 2014.

From January to April this year, 27 projects valued at Bt5.9 billion received approval.

This year, Thailand is targeting more investment in high-end endeavours such as natural rubber, machinery and parts, automotive, rail, aviation maintenance, biotechnology, tourism, software parks, data centres and cloud service.

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