Thai delegation’s visit to Riyadh strengthens business ties with Saudi Arabia
Thailand and Saudi Arabia have further strengthened cooperation in many business and trade areas, Thai Chamber of Commerce chairman Sanan Angubolkul said on Monday.
He made the remarks after visiting Saudi Arabia from June 6 to 9 as part of a Thai delegation led by caretaker Foreign Minister Don Pramudwinai.
The visit was part of the Thai government's efforts to strengthen economic relations between Thailand and Saudi Arabia, he said.
He revealed that a Saudi business group has invited PTT Oil and Retail Business to set up filling stations in Saudi Arabia, which include retail areas, toilets and other facilities similar to Thailand.
He added that PTT is currently in discussions on joint investment in large projects, such as enabling Thailand to become a supply chain for green hydrogen.
The Siam Cement Group is expected to open its office in Saudi Arabia by September this year, he said, adding that the company is interested in expanding its supply chain in Saudi Arabia, in the packaging and polyvinyl chloride businesses.
He said Charoen Pokphand Foods is currently in discussions with Saudi food company "Neom" on joint investment in aquaculture and chicken farming.
In healthcare, Thailand's Health and Wellness Management Consultant has cooperated with Saudi Arabia's Quality of Life Tourism Company on investment in a health and wellness centre.
Thailand and Saudi Arabia have investment projects worth up to 17.5 billion baht, he said.
Thailand and Saudi Arabia's e-sports federations organised a friendly match in Pattaya in April this year, with the second match to be organised in Riyadh in July.
Apart from enhancing e-sport players' potential, the cooperation is also the beginning of game business development in Thailand, he said.
He added that the Thailand E-Sports Federation plans to discuss with Saudi Savvy Games Group on further development of the game business.
On agriculture, Saudi Basic Industries Corporation (SABIC), which has up to 45% market share in Thailand's fertiliser business, is interested to expand investment in Thailand in other businesses, such as automotive, chemicals, electronics and healthcare.
SABIC views Thailand as a good partner, he said, adding that the company has continued to supply fertiliser to Thailand since the Russian-Ukrainian war last year.
On tourism, he said Thailand aims to attract up to 200,000 Saudi tourists to the country, expecting to generate 80,000 baht per person per trip in tourism revenue.
He added that Saudi Arabia plans to add flight routes between Riyadh and Phuket and operate the airline, Riyadh Air, with a fleet of 200 aircraft.
On Saudi Vision 2030 to grow 10 billion trees by importing trees worldwide, he said Thailand had exported more than 200,000 trees to Saudi Arabia, adding that Thailand still has opportunity to export more trees to Saudi Arabia.
He said Saudi Arabia is ready to support Thailand as business incubator and venture capital.
Saudi Arabia has sought Thailand's support for its bid to host World Expo 2030 in Riyadh, he said, adding that Thailand had also asked Saudi Arabia to be a country host at the Specialised Expo 2028 in Phuket.
