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Thai PM meets Chinese tech firms to boost investment

Thai PM meets Chinese tech firms to boost investment

MGR Online•Economy•32m ago

Reader Briefing

Prime Minister Anutin Charnvirakul met with executives from four leading Chinese technology firms during a visit to the People's Republic of China to discuss investment and expansion in Thailand.

  • •Prime Minister Anutin Charnvirakul led a delegation to meet with Xiaomi Corporation, ChangAn Automobile, InnoLight Technology, and Eoptolink Technology.
  • •The discussions focused on electric vehicles, AIoT, smart devices, and high-speed optical communication equipment.
  • •The Thai government offered support through the Thailand FastPass mechanism and clean energy procurement.
  • •Thai authorities are pushing for the Thailand-EU FTA to be completed by the end of this year.

Overview

  • •Prime Minister Anutin Charnvirakul, along with Minister Ekniti Nitithanprapas and Minister Varawut Silpa-archa, held individual company meetings with four Chinese tech firms.
  • •Xiaomi Corporation currently operates an International Business Centre (IBC) in Thailand as a regional support base for ASEAN.
  • •ChangAn Automobile has invested 10,000 million baht in Thailand for its first full-scale production line outside China, aiming for 200,000 cars per year by 2030.
  • •Prime Minister Anutin Charnvirakul invited ChangAn Automobile and InnoLight Technology to consider listing on the Stock Exchange of Thailand.
  • •InnoLight Technology, operating as TerraHop (Thailand) Co., Ltd., has invested over 35,800 million baht with production bases in Saraburi and Phra Nakhon Si Ayutthaya.
  • •InnoLight Technology invested in Thailand to respond to customer demands for production base diversification and supply chain flexibility.
  • •Eoptolink Technology has invested over 10,000 million baht in factories located in Chonburi and Rayong.
  • •Narut Tedsthirasak stated that the Prime Minister's personal engagement helps elevate relations and build confidence for companies to bring R&D to Thailand.

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Key Quotes

Narut Tedsthirasak
"These leading companies are global technology leaders that do business with technology companies such as Google, Microsoft, NVIDIA, and Amazon."
บริษัทชั้นนำเหล่านี้เป็นผู้นำเทคโนโลยีระดับโลกที่ทำธุรกิจกับบริษัทเทคโนโลยีอย่าง Google, Microsoft, NVIDIA และ Amazon

Key Entities

Person

Anutin Charnvirakul(อนุทิน ชาญวีรกูล)ℹ️
Prime Minister who led the team to meet Chinese investors.
Ekniti Nitithanprapas(เอกนิติ นิติทัณฑ์ประภาศ)ℹ️
Deputy Prime Minister and Minister of Finance.
Varawut Silpa-archa(วราวุธ ศิลปอาชา)ℹ️
Minister of Industry.
Narut Tedsthirasak(นฤตม์ เทอดสถีรศักดิ์)
Secretary General of the Board of Investment (BOI).

Organization

Board of Investment(บีโอไอ)
The agency providing investment promotion for companies like Xiaomi in Thailand.
Xiaomi Corporationℹ️
A global technology company and the world's third-largest smartphone manufacturer.
ChangAn Automobile
China's fourth-largest automaker that established its first full-scale production line outside China in Thailand.
InnoLight Technology
The world's number one market share holder in Optical Transceivers.
Eoptolink Technology
The world's second-largest Optical Transceiver manufacturer founded in Chengdu in 2008.
TerraHop (Thailand) Co., Ltd.(เทราฮอป (ไทยแลนด์) จำกัด)
The Thai entity under which InnoLight Technology invested.

Place

People's Republic of China(สาธารณรัฐประชาชนจีน)ℹ️
The country visited by the Thai Prime Minister to meet investors.
Thailand(ประเทศไทย)ℹ️
The destination for investment in electric vehicles and AI technology.
Saraburi(สระบุรี)ℹ️
A province where InnoLight Technology has production bases.
Phra Nakhon Si Ayutthaya(พระนครศรีอยุธยา)
A province where InnoLight Technology has a production base.
Chonburi(ชลบุรี)ℹ️
A province where Eoptolink Technology has a factory.
Rayong(ระยอง)ℹ️
A province where Eoptolink Technology has a factory.

Policy

Thailand FastPass
A government mechanism used to support investment.

Law

Thailand-EU FTA(FTA ไทย-อียู)
A free trade agreement being negotiated to be completed by the end of the year.