Somkid in China zeroes in on Guangdong innovators
Deputy Prime Minister Somkid Jatusripitak gave a speech on Wednesday (October 23) during an official visit to Shenzhen, China, on the topic “Strategic Partnership through the Belt and Road Initiative and the EEC”, which highlighted improving relations with southern Guangdong province.
“Guangdong is now an innovation leader producing modern entrepreneurs in many technology-oriented industries,” he said. “Its advances prompted President Xi Jinping to initiate the Great Bay Area [GBA] project to promote Guangzhou, Hong Kong and Macao as a strategy gateway connecting modern China to the rest of the world.”
Prior to the visit, Somkid met his Chinese counterpart Han Zheng and State Councillor Wang Yong to discuss establishing economic collaboration between Thailand and the GBA.
“In the past five years Thailand’s economy has expanded continually, with this year’s GDP predicted at 2.7-3.2 per cent,” he said. “Our competitive index was ranked eighth globally by the International Institute for Management Development, while ease of doing business ranked 27th for the past two years."
“These factors attract foreigners to bring their business to Thailand, not to mention that many business owners in Thailand have Chinese ancestors, which strengthens future relations between our countries.”
Somkid noted several cultural similarities, such as in food and religion.
“This plays to our advantage, since many Chinese tourists are already visiting Thailand. The government is aiming to increase their number by two or three times and is promoting future Sino-Thai joint ventures in related infrastructure, such as high-speed railways.”
Board of Investment (BOI) secretary-general Duangjai Asawachintachit, accompanying Somkid on the trip, said the board had prepared several “privileges” for overseas investors, including a five-year extension of those privileges for those in technology and startup industries investing in the EEC and remote areas.
“This year the BOI attracted more than Bt680 billion worth of investment, a 130-per-cent increase from last year, while investment from China in the EEC up to June stood at Bt59 billion,” she said.
