Chinese Firms Eye $2.5 Billion Investment in Thai Industries

[snoop1130]

 

As potential high tariffs on Chinese exports loom under the incoming U.S. president, Chinese entrepreneurs are looking to Thailand for investment opportunities. According to Thailand's Board of Investment (BoI), investments worth 90 billion baht (approximately $2.5 billion) are anticipated in sectors like electric vehicle (EV) battery production, data center equipment, and biodegradable packaging.

 

Narit Therdsteerasukdi, the BoI Secretary-General, mentioned these investments could greatly boost Thai industries, especially with the rising demand for advanced electronic components. "This is an important time to attract large investment projects from companies specializing in high technology," he stated.

 

The comments came after a delegation led by Deputy Prime Minister Pichai Chunhavajira, including BoI officials, visited Shanghai from November 19 to 22. The goal was to showcase Thailand's investment incentives to Chinese business leaders.

 

At least six companies have shown interest in these opportunities, ready to commit a collective 90 billion baht. Two companies plan to establish battery cell factories to support the expanding EV, energy storage, and clean energy sectors.

 

 

Three others are focused on developing computer chips and crucial equipment for data centers and telecommunications, positioning Thailand as an export hub. This move is expected to create engineering jobs and strengthen Thailand's expertise in artificial intelligence (AI).

 

The final company plans to set up a bio-packaging facility to convert bagasse—sugarcane processing waste—into eco-friendly food packaging. Narit emphasized this project would not only recycle agricultural byproducts but also enhance the value of bagasse.

 

During the Shanghai visit, Pichai's team also met with representatives from the Chinese Energy and Battery Industry Association. They discussed the challenges of used batteries, highlighting the need for recycling technology and regulations to handle the expected rise in used batteries in Thailand.

 

"Effective management of this emerging issue is crucial," Narit concluded, stressing the need for battery recycling technology and regulatory laws.

 

File photo for reference only

 

-- 2024-11-26

 

 

[DonniePeverley]

Thailand has just sleep walked into being a colony of China. 

 

They've removed all restrictions for most Chinese to enter and essentially live here. They've built bullet trains into Thailand from China, which is solely to flood Thailand with cheap materials from China. 

 

Practically all neighbouring countries have had the same thing done. It's diluted local culture too.