Thai Government Attracts 70 Billion Baht Chinese Investment

Thansettakij•Economy•14h ago

Reader Briefing

The Thai government expects to attract 70,000 million baht in investment from four major Chinese EV and high-tech companies following a roadshow in Chengdu.

•Anutin Charnvirakul and the Thailand team held one-on-one negotiations with four leading Chinese companies in Chengdu.
•Estimated investment totals 70,000 million baht, consisting of 50,000 million baht in existing base expansions and over 20,000 million baht in new investments.
•Changan Automobile has selected Thailand as its first right-hand drive production base outside China, located in Rayong.
•Innolight Technology and Eoptolink Technology are expanding AI data processing equipment production in Thailand.

Overview

•Geopolitical conflicts have acted as a catalyst for investment groups to move production bases from China to ASEAN, with Thailand being a top target.
•Anutin Charnvirakul and the Thailand team conducted a roadshow and one-on-one negotiations with four major Chinese EV and high-tech companies in Chengdu.
•Total expected investment is 70,000 million baht, comprising 50,000 million baht for existing bases and over 20,000 million baht for new investments.
•The Board of Investment (BOI) will organize a business matching activity for Thai entrepreneurs in Chengdu on July 19.
•Changan Automobile is establishing a factory in Rayong to serve as an export hub, aiming to double production capacity to 200,000 units per year.
•Innolight Technology's expansion in Thailand is expected to create over 20,000 jobs and involve over 1,500 Thai engineers in research and development.
•Eoptolink Technology has opened its first factory in Rayong and is currently expanding a second factory.
•The Thai government has negotiated with Xiaomi Corporation to use Thailand as a production base for Smart Home devices (IoT).

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Key Quotes

Ekniti Nitithandprapas

"This phenomenon is considered a new wave of investment that can be compared to the 1980s when Japanese capital flocked to establish production bases in the Eastern Seaboard."

ปรากฏการณ์นี้ถือเป็น คลื่นการลงทุนลูกใหม่ ที่สามารถเทียบชั้นได้กับยุคทศวรรษที่ 1980 ซึ่งกลุ่มทุนญี่ปุ่นแห่เข้ามาตั้งฐานผลิตในพื้นที่อีสเทิร์นซีบอร์ดจนเกิดเป็นยุคโชติช่วงชัชวาล

Key Entities

Person

Ekniti Nitithandprapas(เอกนิติ นิติทัณฑ์ประภาศ)

Deputy Prime Minister and Minister of Finance.

Anutin Charnvirakul(อนุทิน ชาญวีรกูล)ℹ️

Prime Minister and Minister of Interior who led the investment roadshow in Chengdu.

Place

Chengdu(เฉินตู)ℹ️

A city in the People's Republic of China where the investment roadshow took place.

People's Republic of China(สาธารณรัฐประชาชนจีน)ℹ️

The country where the target investment companies are based.

Rayong Province(จังหวัดระยอง)ℹ️

The location where Changan Automobile and Eoptolink Technology are establishing factories.

Organization

Board of Investment (BOI)(สำนักงานคณะกรรมการส่งเสริมการลงทุน (บีโอไอ))

The agency organizing business matching activities and opening an office in Chengdu.

International Monetary Fund (IMF)(กองทุนการเงินระหว่างประเทศ)

The organization that assessed Thailand as a rising global technology star.

Changan Automobile(บริษัท ฉางอาน ออโตโมบิล)

A top-tier Chinese EV company establishing a right-hand drive production base in Rayong.

Innolight Technology(บริษัท อินโนไลท์ เทคโนโลยี)

The world's number one company in optical transmission devices expanding its production base in Thailand.

Eoptolink Technology(บริษัท อีออปโตลิงก์ เทคโนโลยี)

The world's number two company in optical transmission devices with factories in Rayong.

Xiaomi Corporation(บริษัท เสียวหมี่ คอร์ปอเรชัน)ℹ️

A big tech company holding the 3rd largest smartphone market share in Thailand being recruited for IoT production.