BOI joins forces with IEAT road show to attract Chinese investment Penetrate the target company Confirmed to continue investing in the EV industry. and electronics reveals that China has applied for investment promotion in the first quarter of more than 25 billion baht
Mr. Narit Therdsateerasak The secretary-general of the Board of Investment (BOI) revealed the results of the investment roadshow in the People's Republic of China. In important business cities, including Shanghai, Hangzhou, Shenzhen and Guangzhou between April 3-7, 2023, that the BOI along with the Industrial Estate Authority of Thailand (IEAT) traveled to organize a big seminar at Shanghai Along with meeting with electric vehicle (EV) manufacturers and major Chinese electronic components manufacturers, totaling more than 10 companies, this is the first road show in China in 3 years since the outbreak of COVID-19.
in the electric vehicle industry The Thai delegation met with five major Chinese manufacturers: Changan Automobile, Geely, BYD, JAC and Jiangling Motors (JMC). Both JAC and JMC are leading electric pickup and truck manufacturers. All of them expressed their interest in investing in EV production in Thailand and supporting Thailand as a regional electric vehicle production base. It is seen that Thailand has a proactive policy to promote integrated EVs, has a supply chain of parts ready to support EV production, and has quality infrastructure and logistics systems. and the domestic market tends to grow high. In addition, everyone is interested in expanding EV or EV 3.5 support measures that have already been approved by the National Electric Vehicle Board (EV Board). Investment from this group is not less than 20 billion baht in the next 1 year, not including BYD, which has applied for investment promotion in the production of EV cars and parts in Thailand for 6 projects with a total value of over 30 billion baht.
“Chinese EV manufacturers affirm Thailand as their first target in the region. Because there is ready in every For building an EV industry base, both manufactured for domestic sales and exported around the world. Moreover, seeing examples of the growth of other Chinese companies that have entered the Thai market earlier, such as MG, Great Wall Motor, BYD and NETA, gives confidence to invest more, ”said Mr. Narit.
electronic group The delegation met with major electronic components and printed circuit board (PCB) manufacturers, namely WUS Printed Circuit (Kunshan) and ASKPCB, both of which have a combined investment plan of more than 12,000 million baht in Thailand. Moved to invest in more than 200 companies in Thailand to efficiently manage production costs and delivery of goods. This time, we met with more than 10 important suppliers such as Yiyang Jindong Technology, Haoyue New Materials Technology and Guangdong Dtech, as well as It also manages the China Printed Circuit Board Manufacturers Association.
“China Electronics Group It is necessary to find a second production source outside China or China + 1 in order to diversify risks and manage production costs. Thailand is one of the target countries. However, investment in this group will require a large number of suppliers to support production. Therefore, the BOI will encourage some suppliers to invest in Thailand. Along with pushing potential Thai companies into this supply chain. through industrial linkage activities in order to maximize the benefit of the country The Chinese side is also willing to support, ”said Narit.
In addition, the BOI also cooperates with the Shanghai Municipal Commission of Commerce. Organize a big seminar "Thailand's New Investment Promotion Measures: NEW Economy, NEW Opportunities" to publicize new investment promotion measures. and the potential of Thailand both in terms of being a production base and a regional office Including Long-term Resident (LTR Visa) to attract high potential personnel.
In 2022, China was the number one foreign investor applying for investment promotion, with 158 projects worth 77,381 million baht, most of them in the electrical and electronic industry. Automotive and parts, chemicals and digital. In the first quarter of this year (Jan. – Mar. 2023), there are 38 projects from China applying for investment promotion worth more than 25,000 million baht
Source: Thai News Agency